New York — Disclosures (PCDA) — New York Real Estate — State Law Practice Test

This New York Real Estate — State Law New York — Disclosures (PCDA) practice set has 12 practice questions based on the official exam materials, each with an instant explanation.

Sample questions

Three questions from the New York — Disclosures (PCDA) bank with the correct answer and an explanation. The practice quiz above draws 12 questions at random from the same bank.

1. Under New York's Property Condition Disclosure Act (RPL Article 14), who is required to complete and deliver the Property Condition Disclosure Statement (PCDS)?

   • The seller of a one-to-four-family residential dwelling — Correct answer
   • The listing broker on behalf of the seller
   • The buyer's attorney
   • The New York Department of State

   Explanation: The PCDA requires the SELLER of residential real property — a one-to-four-family dwelling — to complete and deliver the PCDS to the buyer. It is the seller's statutory duty, not the listing broker's; the agent only assists. Property Condition Disclosure Statement（房屋状况披露声明）: a seller-completed form disclosing known conditions of a 1-4 family home. Source: NY RPL §461-462.

   Handbook: New York Disclosures — Property Condition Disclosure Act, who delivers (RPL Art.14 §461-462)

2. When must the New York seller deliver the Property Condition Disclosure Statement to the buyer?

   • Before the buyer signs a binding contract of sale — Correct answer
   • At the closing table
   • Within three days after the contract is signed
   • Only if the buyer requests it in writing

   Explanation: RPL §462 requires the PCDS to be delivered to the buyer PRIOR to the buyer signing a binding contract of sale; a copy signed by both parties is then attached to the contract. Delivery after signing does not satisfy the statute. Binding contract of sale（具约束力的买卖合同）: the executed purchase agreement. Source: NY RPL §462.

   Handbook: New York Disclosures — timing of PCDS delivery before contract signing (RPL §462)

3. What major change did the 2024 amendment (S5400, effective March 20, 2024) make to New York's Property Condition Disclosure Act?

   • It eliminated the seller's option to give a $500 credit in lieu of delivering the disclosure statement — Correct answer
   • It raised the credit-in-lieu amount from $500 to $1,000
   • It exempted all condominiums from disclosure
   • It moved the disclosure deadline to the closing date

   Explanation: Effective March 20, 2024, S5400 ELIMINATED the former option for a seller to give the buyer a $500 credit at closing in lieu of delivering the PCDS. Now nearly all sellers of 1-4 family homes must actually complete and deliver the statement; the old '$500 credit instead' advice is outdated. Credit-in-lieu（替代信用额度）: the now-repealed $500 closing credit option. Source: NY RPL Art.14, 2024 amendment (S5400).

   Handbook: New York Disclosures — 2024 PCDA amendment eliminating the $500 credit (RPL Art.14, S5400)