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Flashcards in Vocabulary Deck (6)
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1

Police Power

basic right of government to make laws (10th amendment)

2

Licensing Laws

require certification to verify ethical practices and protect the public

3

NYS Real Property Law

12A

4

Vicarious Liability

responsible for the actions or transgressions of another.
[BR responsible for SP, entirely and completely]

5

Reciprocity

NYS license may carry over to another state. However; state by case basis so review specific laws.

6

Escrow Account

Separate account for RE transactions of a specific client