US Laws, Codes, Statutes & Cases

§ 54.1-2109. Death or disability of a broker.

Upon the death or disability of a licensed real estate broker who was engaged in a proprietorship or who was the only licensed broker in a corporation or partnership, the estate, an adult family member, or an employee of the licensee may be granted approval by the Real Estate Board to carry on the business of the deceased or disabled broker for 180 days following the death or disability of the broker solely for the purpose of concluding the business of the deceased or disabled broker. In the event no such person is available or suitable, the Board may appoint any other suitable person to terminate the business within 180 days.

(1984, c. 283, § 54-731.3; 1988, c. 765.)