Agency
What is 'termination of agency' and what events can end an agency relationship in Nevada?
AAgency can only be terminated by court order in Nevada
BAgency terminates by: expiration of the listing/representation agreement, mutual agreement, completion of the purpose, revocation by the principal, renunciation by the agent, death or incapacity of either party, or destruction of the subject property✓ Correct
CAgency automatically continues for 6 months after the listing expires
DOnly the broker can terminate an agency relationship in Nevada
Explanation
Agency relationships in Nevada can end in several ways: the contract expires (most common — listing agreements have specified terms), both parties mutually agree to terminate, the transaction closes (purpose completed), the principal revokes the agent's authority (may owe damages if wrongful), the agent renounces (may owe damages), or events of law occur (death, incapacity, bankruptcy, property destruction). Understanding when agency ends is crucial for managing client relationships and professional obligations.
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