LIEB BLOG

Legal Analysts

Showing posts with label Lawful Source of Income. Show all posts
Showing posts with label Lawful Source of Income. Show all posts

Monday, June 03, 2019

Real Estate Brokerage Regulatory Updates - 5/31/19 NYS Board Of Real Estate Meeting Summary

On 5/31/19 the NYS Board of Real Estate continued its mission of optimizing the regulation of real estate brokers in our state by holding its meeting in NYC, Rochester and Albany. To remind real estate brokers and salespersons, the public is welcome at these meetings where the public can bring comments from the floor. It's encouraged that Lieb School students attend these meetings to have your voices heard. 

"[T]he Board has general authority to promulgate rules and regulations affecting real estate brokers and salespersons in order to administer and effectuate the purposes of Article 12-A of the Real Property Law."

A complete video of the meeting is available here.

In summary, the following was discussed:
  1. Complaints: From 1/1/19 to 4/30/19, the Department of State received 241 complaints about licensees. For perspective, there are 134,964 licensees in New York State.
  2. Testing: In 2018, of the 27,209 individuals who sat for the salesperson exam, 14,172 passed, which is roughly a 52% pass rate; of the 2,215 individuals who sat for the brokers exam, 1,447 passed, which is a 55% pass rate.
  3. Regulations: The Board is considered updating advertising regulations as to web based advertising where lead generation will be specifically addressed. Additionally, corporate titles was raised as a concern and a committee was assigned to study the issue. The simple solution stated was increased enforcement. 
  4. Discrimination: Lawful source of income was discussed and the Department, while working with the Division of Human Rights, is hopefully going to issue guidance. 
Remember, to take Lieb School's online classes to stay ahead of your profession. 


Wednesday, April 17, 2019

Source of Income Discrimination now banned in all of New York State


Source of income discrimination is now prohibited in all of New York State as a result of Governor Cuomo’s signing of the New York State FY 2020 Budget. The Budget amends the New York State Human Rights Law or Section 292 of the Executive Law to add and define “lawful source of income” as a protected class.

The term “lawful source of income” shall include, but not be limited to, “child support, alimony, foster care subsidies, income derived from social security, or any form of federal, state, or local public assistance or housing assistance including, but not limited to, section 8 vouchers, or any other form of housing assistance payment or credit whether or not such income or credit is paid or attributed directly to a landlord, and any other forms of lawful income.” Exec. Law §292(36).

Prior to Governor Cuomo’s signing of the Budget, source of income discrimination was already prohibited in New York City, Nassau, Suffolk and Westchester Counties, among others. It is important to note that as a result of the new law, the cooperative and condominium exemptions in Westchester County are no longer applicable.