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 All 19 topics
8 terms beginning with F
Showing 1 to 8
F
Fair housing
Fair housing testing
Fair housing testing is a method of comparing housing experiences using people with matched profiles to identify possible discrimination.
Open term guideFair housing
Familial status
Familial status is a protected class under federal and New York law covering households with a child under 18, pregnant persons and people gaining custody of a child.
Open term guideProperty rights and title
Fee simple
Fee simple is the broadest private ownership estate, potentially lasting indefinitely and subject to government powers and private restrictions.
Open term guideAgency
Fiduciary
A fiduciary is a person who owes duties of trust, loyalty and care to another person within the scope of their relationship.
Open term guideAgency
First substantive contact
First substantive contact is the point at which a conversation becomes specific enough that agency disclosure may be required for the recipient and role involved.
Open term guideProperty rights and title
Fixture
A fixture is an item that began as personal property but is treated as part of the real property because of attachment, adaptation and intent.
Open term guideReal estate finance
Foreclosure
Foreclosure is the legal process used to enforce a mortgage lien after default and subject the property to sale or another court-ordered remedy.
Open term guideConstruction and environment
Foundation
A foundation is the part of a structure that transfers building loads to the soil or supporting material below.
Open term guide