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The document outlines the procedure for terminating a real estate salesperson or broker-salesperson's license in Nevada. It specifies that the broker or authorized representative must complete and sign the Real Estate Termination Form 505, detailing the termination date, licensee information, and reason for termination. The form must be submitted to the Nevada Real Estate Division within ten days of termination, along with the original license or a letter of explanation if lost. All signatures must be original, and specific delivery protocols are outlined.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How long can a California real estate license be inactive?

If you dont renew your license before it expires, you are granted a two-year grace period for late renewal. During this period, you must refrain from any activities that require a valid real estate license until your renewal is processed and approved.

How to put a real estate license on inactive status?

There are three routes you can take to deactivate your real estate license. The first is asking your real estate broker to remove you from their license, the second is to do it yourself online, and the third requires you to send a paper application to your real estate commission.

What does it mean to put your real estate license in holding?

A real estate license holding company is a business that holds real estate licenses on behalf of agents. Essentially, it acts as a legal placeholder for your license when youre not actively using it.

What disqualifies you from getting a real estate license in Nevada?

Real Estate The Nevada Real Estate Commission is required to deny licenses to anyone convicted of certain crimes if less than three years have elapsed since the case closed. These include offenses involving theft, fraud, drug possession with intent to sell, and engaging in real estate business without a license.

What does the Nevada Real Estate Division do?

The Nevada Real Estate Division governs the real estate industry in Nevada through its power to enforce the Nevada Revised Statutes. Licensee oversight is one of the divisions most important responsibilities.

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Can I transfer my real estate license to Nevada?

Nevada Reciprocity Requirements If youre already a licensed real estate agent, The Nevada Real Estate Division may recognize your salesperson or broker status from a different state. This expedited licensing process is called reciprocity, and when used, will cost you less time and money becoming an agent in Nevada.

How do I activate my expired real estate license?

Most states have a cut off period by when your real estate license will expre. You can reinstate your real estate license by submitting an application for reinstatement. You will need to make sure you meet the licensing requirements, such as fulfilling your continuing education demands.

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How long can a California real estate license be inactive?

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Can I transfer my real estate license to Nevada?

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