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This entry was published on 2014-09-22
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SECTION 440
Definitions
Real Property (RPP) CHAPTER 50, ARTICLE 12-A
§ 440. Definitions. 1. Whenever used in this article "real estate
broker" means any person, firm, limited liability company or
corporation, who, for another and for a fee, commission or other
valuable consideration, lists for sale, sells, at auction or otherwise,
exchanges, buys or rents, or offers or attempts to negotiate a sale, at
auction or otherwise, exchange, purchase or rental of an estate or
interest in real estate, or collects or offers or attempts to collect
rent for the use of real estate, or negotiates or offers or attempts to
negotiate, a loan secured or to be secured by a mortgage, other than a
residential mortgage loan, as defined in section five hundred ninety of
the banking law, or other incumbrance upon or transfer of real estate,
or is engaged in the business of a tenant relocator, or who,
notwithstanding any other provision of law, performs any of the above
stated functions with respect to the resale of condominium property
originally sold pursuant to the provisions of the general business law
governing real estate syndication offerings. In the sale of lots
pursuant to the provisions of article nine-A of this chapter, the term
"real estate broker" shall also include any person, partnership,
association or corporation employed by or on behalf of the owner or
owners of lots or other parcels of real estate, at a stated salary, or
upon a commission, or upon a salary and commission, or otherwise, to
sell such real estate, or any parts thereof, in lots or other parcels,
and who shall sell or exchange, or offer or attempt or agree to
negotiate the sale or exchange, of any such lot or parcel of real
estate. For purposes of this subdivision the term, "interest in real
estate" shall include the sale of a business wherein the value of the
real estate transferred as part of the business is not merely incidental
to the transaction, and shall not include the assignment of a lease, and
further, the transaction itself is not otherwise subject to regulation
under state or federal laws governing the sale of securities. In
connection with the sale of a business the term "real estate broker"
shall not include a person, firm or corporation registered pursuant to
the provisions of article twenty-three-A of the general business law or
federal securities laws.

2. "Associate real estate broker" means a licensed real estate broker
who shall by choice elect to work under the name and supervision of
another individual broker or another broker who is licensed under a
partnership, trade name, limited liability company or corporation. Such
individual shall retain his or her license as a real estate broker as
provided for in this article; provided, however, that the practice of
real estate sales and brokerage by such individual as an associate
broker shall be governed exclusively by the provisions of this article
as they pertain to real estate salesmen. Nothing contained herein shall
preclude an individual who elects to be licensed as an associate broker
from also retaining a separate real estate broker's license under an
individual, partnership, trade name, limited liability company or
corporation.

3. "Real estate salesman" means a person associated with a licensed
real estate broker to list for sale, sell or offer for sale, at auction
or otherwise, to buy or offer to buy or to negotiate the purchase or
sale or exchange of real estate, or to negotiate a loan on real estate
other than a mortgage loan as defined in section five hundred ninety of
the banking law, or to lease or rent or offer to lease, rent or place
for rent any real estate, or collects or offers or attempts to collect
rent for the use of real estate for or in behalf of such real estate
broker, or who, notwithstanding any other provision of law, performs any
of the above stated functions with respect to the resale of a
condominium property originally sold pursuant to the provisions of the
general business law governing real estate syndication offerings.

4. "Tenant relocator" means any person, firm, corporation,
partnership, limited liability company or any legal entity whatsoever,
which, for another and for a fee, commission or other valuable
consideration, supervises, organizes, arranges, coordinates, handles or
is otherwise in charge of or responsible for the relocation of
commercial or residential tenants from buildings or structures that are
to be demolished, rehabilitated, remodeled or otherwise structurally
altered.

5. "Association, associated; or associated with" whenever used in this
article shall be deemed to make reference to a salesman's relationship
with his or her broker. Nothing in this article shall be deemed or
construed to be indicative or determinative of the legal relationship of
a salesperson to a broker nor shall any provision of this article be
deemed or construed to alter or otherwise affect the legal
responsibility of a real estate broker to third parties for the acts of
anyone associated with such broker pursuant to this article.

6. "Office manager" means a licensed associate real estate broker who
shall by choice elect to work as an office manager under the name and
supervision of another individual broker or another broker who is
licensed under a partnership, trade name, limited liability company or
corporation. Such individual shall retain his or her license as a real
estate broker as provided for in this article; provided, however, that
the practice of real estate sales and brokerage by such individual as an
associate broker shall be governed exclusively by the provisions of this
article as they pertain to real estate salesmen. Nothing contained in
this subdivision shall preclude an individual who is licensed as an
associate broker who elects to work as an office manager from also
retaining a separate real estate broker's license under an individual,
partnership, trade name, limited liability company or corporation.