Colorado License Law
In Colorado, a broker who changes their employing broker must:
AA. Wait 30 days before transferring
BB. Notify the Division of Real Estate of the change and transfer their license to the new employing broker✓ Correct
CC. Apply for a new license entirely
DD. Only inform their clients, not the Division
Explanation
When a Colorado associate broker changes employing brokers, they must update their license affiliation with the Division of Real Estate. Until the transfer is processed, the broker cannot lawfully practice under the new employing broker.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
State-Specific Concepts
License Law
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