New York License Law
The New York Property Condition Disclosure Act applies to:
AAll commercial and residential property transfers
BSales of one-to-four family residential dwellings✓ Correct
CNew construction only
DAll property transfers except foreclosures
Explanation
The PCDA applies to transfers of one-to-four family residential dwellings. It does not apply to new construction, foreclosure sales, or certain other exempt transfers.
People Also Study
Related New York Questions
- In New York, the seller of a one-to-four family home who elects NOT to provide the Property Condition Disclosure Statement must:Contracts
- New York's disclosure of property condition law (the Property Condition Disclosure Act, PCDA) applies to:Environmental
- New York's Property Condition Disclosure Act requires sellers of one-to-four family residential dwellings to deliver the PCDS to the buyer:New York License Law
- A New York seller of a one-to-four family home must provide which environmental-related federal disclosure?Environmental
- A buyer in NYC purchases a condo for $875,000. The NYC RPTT rate for residential sales over $500,000 is 1.425%. NYC mansion tax at 1% applies since the price is between $1M and $2M — but here the price is $875,000 so mansion tax does NOT apply. RPTT only: what is the RPTT?Real Estate Math
- In New York, lead-based paint disclosure requirements under federal law apply to residential properties built before:Environmental
- In New York, the 'energy disclosure' requirement under the New York State Energy Law requires disclosure of energy consumption data for residential buildings as a condition of:Environmental
- In New York, which type of deed is most commonly used in arm's-length residential sales?Escrow & Title
State-Specific Concepts
License Law
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →