Menu

 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.

Featured Content

First quarter Legal Lines now available

The first quarter 2018 edition of NYSAR’s Legal Lines is now available online at NYSAR.com. This edition covers commission issues, a New York State Supreme Court ruling on unsigned letters not creating a contract, support animals and more. Learn more

legal-NYSAR-180x150-2016
Legal