First Quarter 2018
Get up-to-date information on legal and regulatory issues affecting New York State’s REALTORS® and the latest on court decisions affecting the industry.
First Quarter 2018
Signed contract results in court awarding commission to broker
A dispute over whether a real estate broker was entitled to a commission occurred when a buyer claimed the broker was not his agent, and that he never agreed for the broker to be paid a commission for the purchase of a condo unit.
NYS Supreme Court rules typed name in unsigned letter does not create contract
The New York State Supreme Court found that a typed name in an unsigned letter containing a counteroffer for a real property purchase did not create a contract in New York State, even when the other party signed said letter upon receipt.
Commissions governed by both license law and contractual agreement
Questions about commission splits between real estate brokers and their real estate salespersons and associate real estate brokers are frequently asked by callers to the NYSAR Legal Hotline. This article will address common questions and misconceptions on this topic.
Read the latest articles of interest from the National Association of REALTORS®:
CFPB reversed on RESPA
The United States Court of Appeals for the D.C. Circuit has upheld an earlier decision that the Consumer Financial Protection Bureau had incorrectly rejected a long-standing RESPA interpretation that payments between settlement service providers are permissible so long as those payments are for goods or services actually provided and are for fair market value.
Possible contamination a material fact
A Maryland appellate court upheld real estate commission’s sanctions for a licensee’s failure to disclose information about a possible gas station leak into well water but reverses a sanction for failure to disclose the existence of an HOA when in fact the entity was not an actual HOA.
No accommodation for aggressive pet
Vermont’s highest court affirmed a trial court ruling that a landlord did not have to accommodate a tenant’s request for a support animal because the animal in question had exhibited aggressive behavior.
Click here for the most recent DOS decisions.