The Developer realized that it needed to create additional road access to one of the parcels, and so the Developer
retained licensed real estate broker Dennis F. Massimo («Broker») to obtain the necessary land to complete the project.
Not exact matches
357 DOS 02 Matter of DOS v. Elias - failure to appear at hearing; failure to pay judgment; proper business practices; deposits; DOS fails its burden of proof; restitution; ex parte hearing may proceed upon proof of proper service; respondent failed to fully satisfy a judgment obtained against him without showing that he was unable to do so; a rental
broker is entitled to compensation only after procuring a rental agreement between tenant and landlord;
retaining part or all of the deposit without obtaining a rental agreement demonstrates untrustworthiness and incompetency; restitution may be ordered as a condition to retention of the
broker's
license where he has received money to which he is not entitled; unlawful for
broker to operate
real estate brokerage business at an address other than that which was stated on his application;
broker operated his
real estate business out of an address prior to obtaining a
license for that address; DOS failed to prove that respondent commingled and converted deposits;
real estate brokers license suspended for four months and an additional period of time until respondent proves he has paid the balance of the judgment
287 DOS 98 Matter of DOS v. Uqdah Realty & Management Corp. — deposits; jurisdiction; fraudulent practices; failure to pay judgment; vicarious liability; notary public; disclosure of agency relationship;
broker violated 19 NYCRR 175.1 when he deposited escrow funds into his operating account;
broker committed conversion when his operating account fell below deposit amount;
broker engaged in fraudulent practices when he illegally
retained buyer's trust funds and attempted to qualify prospective buyer for mortgage by falsely stating their employment;
broker failed to disclose his agency relationship to his client; failure to pay judgment; corporate
real estate broker vicariously liable and charged with actual knowledge of violation of law because of representative
broker's cognizant misconduct as corporate officer;
broker is not required to deposit a refundable commission in an escrow account unless contractually demanded; corporate
broker and representative
broker's
license revoked; restitution of deposit of $ 12,000 plus interest; notary public commission revoked based on misconduct as a
real estate licensee
214 DOS 97 Matter of DOS v. Laymon - accounting to client; bad check; deposits; failure to pay judgments; proper business practices; jurisdiction; DOS
retains jurisdiction after expiration of
license (for failure to pay renewal fee) where acts occurred during licensure; violation of 19 NYCRR 175.1 by depositing clients» funds into operating account and failing to maintain special bank account; violation of 19 NYCRR 175.2 for failing to account to client;
broker engaged in fraudulent practices by accepting monies he was required to
retain in escrow, depositing said monies into his operating account, failing to return same to its rightful owner and by purporting to make refunds by issuing bad checks; in light of
broker's financial inability to do so, failure to promptly satisfy judgments was not a demonstration of untrustworthiness; there was no violation of 19 NYCRR 175.3 (b) where
broker was not managing rental properties;
real estate broker's
license revoked; reapplication for
broker's
license conditioned upon proof of payment of restitution with interest and proof of satisfaction of judgment with interest
960 DOS 03 DOS v. Vazquez - deposits; unlicensed activity; duty to supervise sales associate; failure to cooperate with DOS investigation; failure to pay judgment; sanction;
broker fails to reply to DOS's request for information;
broker allows two individuals to work in association with brokerage without being properly
licensed;
broker fails to pay judgment;
broker fails to return rental deposits in two transactions where the rental was not consummated;
broker fails to supervise sales associate and is accountable for monies received by salesperson and unaccounted for; in setting penalty, it is proper to consider licensees were found to have availed themselves of improper
licensed real estate salespersons and to have
retained an unearned commission; corporate
broker's
license and representative
broker's
license revoked and
brokers ordered to pay restitution in the amount $ 7,725.00 and judgment in the amount $ 740.37
7 DOS 00 DOS v. Flagship Marketing Group - availing of
license; failure to cooperate with DOS investigation; jurisdiction; proper business practices; ex parte hearing may proceed upon proof of proper service; DOS
retains jurisdiction over party not
licensed at the time of the hearing where, at that time the complaint was served, the party was (i)
licensed, (ii) an applicant for a
license or renewal, or (iii) was eligible to automatically renew; salesperson is prohibited both from owning, directly or indirectly, singly or jointly, any shares of voting stock in and from being an officer of any
licensed real estate brokerage corporation with which the salesperson is associated; representative
real estate broker availed the corporate
broker license to an associated salesperson where the office was operated by the salesperson without the direct supervision of the representative
broker and the salesperson conducted business as a
broker for his own benefit; representative
real estate broker engaged in fraud by availing the corporate
real estate broker license to a salesperson; representative
broker's availing of corporate
broker's
license for which the corporate
broker is vicariously liable; failure to provide business records constitutes failure to cooperate with DOS investigation; DOS fails to establish fraud, ignorance or negligence is not sufficient to prove mistake; pressure, regardless of how severe, is not undue influence; restitution denied where funds sought were received by an entity not named or charged in the complaint; corporate
broker fined $ 3,000.00, representative
broker's
license revoked and fined $ 3,000.00 and salesperson fined $ 5,000.00
79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents»
licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were
licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact;
broker fails to make it clear for which party he is acting;
broker violates 19 NYCRR 175.24 by using exclusive right to sell listing agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»;
broker breaches fiduciary duties to seller clients by misleading them as to buyer's ability to financially consummate the transaction;
broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for
broker to use listing agreements providing for
broker to
retain one half of any deposit if forfeited by buyer as such forfeiture clause could, by its terms, allow
broker to
retain part of the deposit when
broker did not earn a commission;
broker must conduct business under name as it appears on
license;
broker engaged in the unauthorized practice of law in preparing contracts for purchase and sale of
real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar /
real estate board committee;
broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission;
broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete;
broker failed to amend purchase agreement to reflect amendment to increase deposit amount;
broker demonstrated untrustworthiness in back - dating purchase agreements;
broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase;
broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish by substantial evidence that respondent acted as undisclosed dual agent; corporate
broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual
brokers»
licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully
retained