After the death of a broker, who may be permitted to act as broker for up to 90 days?

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Multiple Choice

After the death of a broker, who may be permitted to act as broker for up to 90 days?

When a licensed broker dies, there’s a safety provision that allows continuity of service for a short time. Either the executor of the broker’s estate or the broker’s widow or other heir may act as broker for up to 90 days. This temporary authority helps ensure that ongoing deals can be wound up, client matters are protected, and escrow or trust accounts are properly handled while a new licensed broker is appointed or the license is transferred. It prevents abrupt disruption to clients and the business during the transition, giving time to line up a replacement and complete any pending transactions. After the 90 days, the arrangement must be formalized with a licensed successor or the estate’s affairs properly closed.

When a licensed broker dies, there’s a safety provision that allows continuity of service for a short time. Either the executor of the broker’s estate or the broker’s widow or other heir may act as broker for up to 90 days. This temporary authority helps ensure that ongoing deals can be wound up, client matters are protected, and escrow or trust accounts are properly handled while a new licensed broker is appointed or the license is transferred. It prevents abrupt disruption to clients and the business during the transition, giving time to line up a replacement and complete any pending transactions. After the 90 days, the arrangement must be formalized with a licensed successor or the estate’s affairs properly closed.

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