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Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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|---|---|
| Jan 06, 2010 |
referred to judiciary |
| Sep 30, 2009 |
referred to judiciary |
Assembly Bill A9161
2009-2010 Legislative Session
Sponsored By
LATIMER
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2009-A9161 (ACTIVE) - Details
2009-A9161 (ACTIVE) - Sponsor Memo
BILL NUMBER:A9161
TITLE OF BILL: An act to amend the real property law, in relation to
prohibiting real estate brokers from providing legal advice or preparing
legal documents in real estate matters unless such person is a New York
state licensed attorney
PURPOSE OR GENERAL IDEA OF BILL: This bill protects the purchasers and
sellers of real property from entering into real estate contracts that
may or may not be binding due to lack of legal training and experience.
SUMMARY OF SPECIFIC PROVISIONS: Since the purchase of a home is most
likely to be the most important legal transaction that the average
person undertakes, it should be done in such a manner that protects all
parties' best interests. Its intent is not to diminish nor take away
from the need to use a licensed realtor for the purpose of locating and
acquiring real estate. This bill however will deem it illegal for any
licensed Real Estate Broker, Associate Broker, or Agent to give legal
advice or prepare legal documents such as binders or contacts of sale
for the purchase of real property. Those that violate this law will be
subject to penalties subscribed. The first offence would constitute a
warning. The second offence would constitute a $1,000.00 fine. Each
subsequent fine after the second offense would constitute a fine of
$5,000.00 for each offense. This bill assures that when working with a
real estate broker, associate broker, agent and or any other person that
is duly licensed to sell real estate in New York State, a purchaser or
2009-A9161 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
9161
2009-2010 Regular Sessions
I N A S S E M B L Y
September 30, 2009
___________
Introduced by M. of A. LATIMER -- read once and referred to the Commit-
tee on Judiciary
AN ACT to amend the real property law, in relation to prohibiting real
estate brokers from providing legal advice or preparing legal docu-
ments in real estate matters unless such person is a New York state
licensed attorney
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The real property law is amended by adding a new section
440-c to read as follows:
S 440-C. PROHIBITIONS ON THE PROVISION OF LEGAL ADVICE OR PREPARATION
OF LEGAL DOCUMENTS BY REAL ESTATE BROKERS. 1. A REAL ESTATE BROKER,
ASSOCIATE REAL ESTATE BROKER, REAL ESTATE SALESMAN OR ANY OTHER PERSON
DULY LICENSED TO SELL REAL ESTATE SHALL BE PROHIBITED FROM PROVIDING
LEGAL ADVICE OR PREPARING LEGAL DOCUMENTS FOR REAL ESTATE MATTERS,
UNLESS SUCH PERSON IS AN ATTORNEY LICENSED IN THE STATE PURSUANT TO
ARTICLE FIFTEEN OF THE JUDICIARY LAW.
2. ANY REAL ESTATE BROKER, ASSOCIATE REAL ESTATE BROKER, REAL ESTATE
SALESMAN OR ANY OTHER PERSON DULY LICENSED TO SELL REAL ESTATE SHALL
RECEIVE A WARNING UPON THE FIRST VIOLATION OF SUBDIVISION ONE OF THIS
SECTION. A SECOND OFFENSE SHALL BE PUNISHABLE BY A FINE OF ONE THOUSAND
DOLLARS AND EACH SUBSEQUENT OFFENSE SHALL BE PUNISHABLE BY A FINE OF
FIVE THOUSAND DOLLARS.
S 2. This act shall take effect on the sixtieth day after it shall
have become a law.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14743-01-9
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