New York License Law
Under New York Real Property Law, which entity may NOT hold a real estate broker's license?
AA licensed corporation
BA limited liability company (LLC)
CA limited partnership
DAn unlicensed individual acting as a sole proprietor✓ Correct
Explanation
In New York, a real estate broker's license may be issued to an individual, a partnership, or a corporation (including LLCs and LLPs). However, an unlicensed individual acting as a sole proprietor performing real estate brokerage activities without a license is prohibited and may not hold a license. The entity must have at least one licensed broker responsible for its real estate activities.
Related New York New York License Law Questions
- A New York broker who is also acting as a principal (buying or selling for their own account) must:
- A New York broker who wants to offer 'virtual' (online) real estate courses for continuing education must:
- Under New York law, which of the following is required to be disclosed to a buyer of residential property?
- Which state agency regulates real estate licenses in New York?
- In New York, a 'virtual office website' (VOW) operated by a real estate broker must comply with:
- A real estate salesperson in New York is considered an independent contractor for tax purposes when:
- In New York, the DOS may deny a license application if the applicant:
- Under New York law, a licensee who converts client funds from an escrow account to their own use has committed:
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 →