189 terms across 19 subjects
New York Real Estate Exam Glossary
This glossary defines 189 terms you need for the New York real estate salesperson exam, organized by the 19 subjects of the Department of State's 77-hour course. Each term opens into a short guide with a one-sentence definition, how the idea shows up in exam questions, an example, the trap students fall for and links to the official source.
How to use this glossary
Read the one-line definition first. Then open the term for the exam cue, an example and the trap that costs students points.
Filter by topic Condominiums and cooperatives
5 terms in Condominiums and cooperatives beginning with C
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C
Condominiums and cooperatives
Common charges
Common charges are amounts assessed against condominium unit owners for common expenses under the governing documents and budget.
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Common elements
Common elements are the parts of a condominium property owned collectively by unit owners rather than as part of one unit.
Open term guideCondominiums and cooperatives
Condominium
A condominium is a form of ownership in which a person owns an individual unit and an undivided interest in common elements.
Open term guideCondominiums and cooperatives
Condop
A condop is a property structure that combines a condominium framework with a cooperative component, often through separately owned condominium units.
Open term guideCondominiums and cooperatives
Cooperative
A cooperative is a housing arrangement in which a corporation owns the real property and occupants own shares tied to proprietary leases.
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