New York real estate glossary
Know the term. Understand the rule.
Search 189 exam terms from all 19 New York salesperson curriculum subjects. Every definition opens into a sourced guide with an exam cue, a practical example and the distinction students often miss.
How to use this glossary
Read the short definition first. Then open the term for the exam pattern, New York example and common mix-up.
Filter by topic All 19 topics
25 terms beginning with C
Showing 1 to 18
C
Income tax
Capital gain
Gain from the sale or exchange of a capital asset, calculated under tax law and subject to classification and exclusions.
Open term guideProperty management
Capital improvement
A significant addition or replacement that extends useful life, increases value or adapts property to a new use, depending on the accounting and tax context.
Open term guideValuation
Capitalization
The process of converting income into an indication of value.
Open term guideReal estate math
Capitalization rate
A rate that relates a property's net operating income to its value or price.
Open term guideCommercial and investment
Cash flow
Money remaining or changing hands during a period after the receipts and payments included in the stated calculation.
Open term guideLand use
Certificate of occupancy
An official document confirming that a building or space may be occupied for the approved use under applicable code and local requirements.
Open term guideLicensee safety
Check-in procedure
A planned communication process that confirms a licensee's status and triggers action when contact is missed.
Open term guideAgency
Client
A principal who is represented by a real estate agent.
Open term guideLicense law
Commingling
Mixing client funds or property with a broker's own funds or property.
Open term guideReal estate math
Commission
Compensation paid for brokerage services under an agreement.
Open term guideCondominiums and cooperatives
Common charges
Amounts assessed against condominium unit owners for common expenses under the governing documents and budget.
Open term guideCondominiums and cooperatives
Common elements
The parts of a condominium property owned collectively by unit owners rather than as part of one unit.
Open term guideValuation
Comparable
A property used as market evidence because it is sufficiently similar to the property being analyzed.
Open term guideValuation
Comparative market analysis
A broker's analysis of relevant market data to help a seller or buyer consider a probable price range.
Open term guideCondominiums and cooperatives
Condominium
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 property structure that combines a condominium framework with a cooperative component, often through separately owned condominium units.
Open term guideMunicipal government
Conservation advisory council
A local advisory body that may inventory natural resources and advise officials on environmental matters.
Open term guideContracts and leases
Consideration
Something of legal value exchanged as part of a contract.
Open term guide