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 Commission Escrow Act- Effective January 1, 2009

Brokers in New York have a law to protect their earned commissions. The Commission Escrow Act, which took effect Jan. 1, 2009, is a legal provision requiring sellers to deposit disputed commissions into an escrow account maintained by the county clerk. Brokers must meet a number of requirements in order for the act to apply.

The following educational tools and forms are available to assist brokers in complying with the act.

Commission Escrow Act article by S.Anthony Gatto, Esq., NYSAR Legal Counsel

Individual Broker Form - Affidavit of Entitlement to Commission for Completed Brokerage Services

Corporate Broker Form - Affidavit of Entitlement to Commission for Completed Brokerage Services

Checklist for brokers: Complying with the Comission Escrow Act

Brokers who still have questions concerning the act and its applicability should contact the NYSAR Legal Hotline. The hotline is available Monday through Friday from 9 a.m. to 3 p.m. at 518-436-9727.

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Fourth quarter Legal Lines now available

The fourth quarter 2017 Legal Lines is now available. This edition covers the misclassification of employees, escrow deposits, agricultural district disclosures and more. Learn more

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