What's happening
This bill requires real estate brokers and salespersons to write their name and license number on any signed transaction document.
Why it matters
Increases transparency and accountability. By requiring real estate professionals to print their name and license number alongside their signature, clients and regulators can more easily identify who is responsible for each transaction.
Facilitates consumer protection and complaint resolution. If issues arise, consumers and regulatory bodies will have a clear record of the specific agent or broker involved, making investigations and disciplinary actions more efficient.
Could deter fraudulent or unlicensed activity. The requirement to display a valid license number may help prevent unlicensed individuals from participating in real estate transactions, reducing the risk of fraud.
May introduce new compliance steps for professionals. Brokers and salespersons will need to update their document-handling practices, potentially requiring additional training or adjustments to standard forms.
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Who cares
Headline styles
Write Names on Realty Forms
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
1 Multi-sponsor
History
- Referred to judiciary
- Referred to judiciary
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Require Names on Realty Documents
In Senate Committee · Rules · Sponsor Brad Hoylman-Sigal
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
4192
2019-2020 Regular Sessions
IN ASSEMBLY
February 1, 2019
Introduced by M. of A. DenDEKKER -- read once and referred to the Committee on Judiciary
AN ACT to amend the real property law, in relation to requiring the secretary of state to promulgate rules or regulations requiring real estate salespersons and brokers to legibly write their name and license number on certain documents
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 1 of section 442-k of the real property law, as added by chapter 248 of the laws of 1995, is amended to read as follows:
1. (a) The state real estate board shall have the power to promulgate rules or regulations affecting brokers and sales persons in order to administer and effectuate the purposes of this article, except that matters pertaining to commingling money of a principal, rendering accounts for a client, managing property for a client, broker's purchase of property listed with him or her, inducing breach of contract of sale or lease, and records of transactions to be maintained are reserved for the exclusive regulatory authority of the secretary of state.
(b) The secretary of state, and not the state real estate board shall promulgate rules and regulations to administer or implement the provisions of sections four hundred forty-one and four hundred fortytwo-h of this article.
[In addition, the] (c) The secretary of state shall have exclusive regulatory authority to promulgate rules regarding the duties and responsibilities of real estate brokers and salespersons with regard to the handling of clients' funds.
(d) The secretary of state shall promulgate rules or regulations requiring that in every real estate transaction, any document which requires the signature of a real estate salesperson and/or real estate broker shall also require such salesperson or broker to legibly write his or her name and license number on the document along with the signature.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07817-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.