How should a licensee proceed if their broker passes away?

In the event that a broker passes away, it is important for the licensee to cease all real estate activities immediately. This is because the broker typically holds the license for the brokerage and is responsible for the oversight of all transactions conducted under that license. When the broker dies, the authority and responsibility associated with the brokerage may no longer exist, leading to potential legal and ethical complications for the licensee.

Stopping all dealings allows the licensee to ensure compliance with the legal requirements and to avoid any misunderstandings or liabilities that could arise from continuing to operate without proper oversight. It also provides the licensee time to consider their options moving forward, such as transferring their license to another broker, while ensuring that they do not inadvertently engage in unauthorized practice during that transitional period.