Pennsylvania Code
Title 49 - PROFESSIONAL AND VOCATIONAL STANDARDS
Part I - DEPARTMENT OF STATE
Subpart A - PROFESSIONAL AND OCCUPATIONAL AFFAIRS
Chapter 35 - STATE REAL ESTATE COMMISSION
Subchapter C - LICENSURE
STATUS OF LICENSURE
Section 35.252 - Termination of business of deceased broker with sole proprietorship

Universal Citation: 49 PA Code § 35.252

Current through Register Vol. 54, No. 44, November 2, 2024

(a) Within 15 days following the death of a broker with a sole proprietorship, the deceased broker's estate shall notify the Commission that the estate has appointed another licensed broker to supervise the termination of the deceased broker's business. The appointment is subject to verification that the appointed broker has a current license.

(b) The appointed broker shall observe the following rules during the termination period:

(1) New listing agreements may not be entered into.

(2) Unexpired listing agreements may be promoted unless the seller or lessor elects to cancel the agreement. Unexpired listings will expire automatically 90 days after the broker dies and may not be renewed.

(3) Pending agreements of sale or lease may proceed to consummation.

(4) New licensees may not be hired.

The provisions of this §35.252 issued under the Real Estate Licensing and Registration Act (63 P. S. §§ 455.101-455.902).

Disclaimer: These regulations may not be the most recent version. Pennsylvania may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.