NYLE - New York Law Exam NY Real Property Law 1

Question 1

Under New York's Statute of Frauds (General Obligations Law § 5-703), which of the following agreements concerning real property is unenforceable if made only orally?

Accepted Answer

A contract for the sale of real property

Answer

GOL § 5-703 requires that contracts for the sale, purchase, or exchange of real property — as well as leases exceeding one year — be in writing and signed by the party to be charged. An oral contract to sell real property is unenforceable under New York's Statute of Frauds.

Question 2

Under New York General Obligations Law § 7-108, a landlord of a residential building with six or more units who collects a security deposit must:

Accepted Answer

Deposit the funds in an interest-bearing account and annually pay or credit the net interest to the tenant

Answer

GOL § 7-108 requires landlords of buildings with six or more units to place security deposits in interest-bearing bank accounts, keeping them separate from personal funds, and to pay or credit the net interest annually to the tenant. The landlord may retain 1% per year as an administrative fee.

Question 3

Under New York Real Property Law, which form of co-ownership is available exclusively to married spouses and prevents either party from unilaterally conveying or encumbering their interest without the other's consent?

Accepted Answer

Tenancy by the entirety

Answer

Tenancy by the entirety is a form of co-ownership reserved for married couples under New York law. Because the spouses are treated as a single legal unit, neither can convey, mortgage, or encumber the property without the other's joinder, and creditors of one spouse generally cannot reach the property.

Question 4

Under New York law, mortgage foreclosure actions on residential property are conducted as:

Accepted Answer

Judicial proceedings requiring a court action, order of reference, and judicial sale

Answer

New York is a judicial foreclosure state. A lender must commence a court action, obtain a judgment of foreclosure and sale, and proceed through an order of reference and judicial sale overseen by a referee. This process provides significant procedural protections for borrowers and typically takes considerably longer than non-judicial states.

Question 5

Under New York Real Property Law § 223-b, a landlord is prohibited from retaliating against a residential tenant by commencing eviction proceedings, raising rent, or reducing services when the tenant has:

Accepted Answer

Complained in good faith to a governmental authority about a housing code violation

Answer

RPL § 223-b protects tenants who in good faith complain to a governmental authority about health, safety, or housing code violations, or who join or organize a tenants' union, from retaliatory evictions, rent increases, or service reductions. A landlord who retaliates within one year of such protected activity bears the burden of proving a non-retaliatory motive.

NYLE - New York Law Exam Practice Test

NYLE - New York Law Exam Practice Test

NYLE - New York Law Exam NY Real Property Law 1