                                 CODE OF VIRGINIA

DEATH OR DISABILITY OF A REAL ESTATE BROKER (§ 54.1-2109)

A. Any licensed broker who is engaged in a sole proprietorship or who is the
only licensed broker in a business entity listed in clause (i) of subsection A
of &#xA7; 54.1-2106.1 shall designate another licensed broker to carry on the
business for up to 180 days for the sole purpose of concluding the business of
such designating broker in the event of the designating broker&#8217;s death or
disability. Such designation shall be made at the time of application for broker
licensure.

B. Only in the event that the designated broker named pursuant to subsection A
is unable or unwilling to perform the act of concluding the business, the Real
Estate Board shall, within 30 days of receiving written notification of a
broker&#8217;s death or disability, grant approval to one of the following
individuals to carry on the business of the deceased or disabled broker for up
to 180 days for the sole purpose of concluding the business:

   1. A personal representative qualified by the court to administer the deceased
   broker&#8217;s estate;

   2. An agent designated under a power of attorney of the deceased or disabled
   broker, which designation expressly references this section;

   3. The executor nominated in the deceased broker&#8217;s will;

   4. An adult family member of the deceased or disabled broker; or

   5. An employee of, or an independent contractor affiliated with, the deceased
   or disabled broker.

C. In the event that none of the individuals in subdivisions B 1 through 5 is
available or suitable, the Board may appoint any other licensed broker, with the
written consent of such broker, within 30 days of receiving written notification
of a broker&#8217;s death or disability, to allow such appointed broker to carry
on the business of the deceased or disabled broker for the sole purpose of
concluding the business within 180 days.

HISTORY: 1984, c. 283, § 54-731.3; 1988, c. 765; 2014, cc. 24, 705; 2019, cc.
179, 395; 2020, c. 383; 2022, c. 725.