Prohibits real estate brokers from providing legal advice or preparing legal documents in real estate matters unless such person is a New York state licensed attorney; warning for first offense, $1,000 fine for second offense, $5,000 fine for each subsequent offense.
STATE OF NEW YORK
________________________________________________________________________
45
2011-2012 Regular Sessions
IN ASSEMBLY(Prefiled)
January 5, 2011
___________
Introduced by M. of A. LATIMER -- read once and referred to the Commit-
tee on Judiciary
AN ACT to amend the real property law, in relation to prohibiting real
estate brokers from providing legal advice or preparing legal docu-
ments in real estate matters unless such person is a New York state
licensed attorney
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The real property law is amended by adding a new section
2 440-c to read as follows:
3 § 440-c. Prohibitions on the provision of legal advice or preparation
4 of legal documents by real estate brokers. 1. A real estate broker,
5 associate real estate broker, real estate salesman or any other person
6 duly licensed to sell real estate shall be prohibited from providing
7 legal advice or preparing legal documents for real estate matters,
8 unless such person is an attorney licensed in the state pursuant to
9 article fifteen of the judiciary law.
10 2. Any real estate broker, associate real estate broker, real estate
11 salesman or any other person duly licensed to sell real estate shall
12 receive a warning upon the first violation of subdivision one of this
13 section. A second offense shall be punishable by a fine of one thousand
14 dollars and each subsequent offense shall be punishable by a fine of
15 five thousand dollars.
16 § 2. This act shall take effect on the sixtieth day after it shall
17 have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00304-01-1
