Nevada License Law
A Nevada real estate broker is going on medical leave for 6 months. What must happen to the brokerage and affiliated licensees during this period?
AAffiliated agents may continue working without any change for up to 6 months
BThe broker must designate a licensed broker or broker-salesperson as the qualifying employee (broker of record) or close the brokerage during the leave✓ Correct
CAll affiliated agents automatically become independent contractors
DNRED automatically appoints a temporary broker for medical emergencies
Explanation
Under NRS 645, a licensed broker must supervise all affiliated licensees. If the broker is unable to do so due to medical leave, they must designate a qualified person to serve as the broker of record (qualifying broker or broker-salesperson who holds or qualifies for a broker license).
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Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
State-Specific Concepts
Broker Supervision
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