Delaware License Law
Under Delaware law, if a broker dies, the affiliated licensees:
AMust immediately cease all real estate activities
BMay continue operating for up to 90 days under a designated surviving licensee to wind down transactions✓ Correct
CAutomatically become independent brokers
DAre transferred to the nearest broker's supervision automatically
Explanation
Delaware law provides for a temporary continuation of a brokerage for a limited period (typically up to 90 days) following the death or incapacity of a broker, to allow orderly wind-down or transfer of affiliation.
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Key Terms to Know
Joint Tenancy
Co-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
State-Specific Concepts
License Law
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