If a managing broker dies, how long can an associated broker continue business with existing contracts?

When a managing broker passes away, the Indiana Real Estate Commission provides a specific period during which an associated broker can continue to operate under existing contracts. This period is set at 90 days.

This provision is important because it allows for a smooth transition and continuity of service for clients who have ongoing contracts with the brokerage. During these 90 days, the associated broker can work to ensure that the business affairs of the brokerage are properly managed and transferred if necessary. It gives enough time to either finalize transactions or transfer management to another qualified broker, ensuring that clients are not left without support and that their contracts are honored.

Other time frames such as 30, 60, or 120 days are not aligned with the regulations outlined by the Indiana Real Estate Commission, which is why they do not apply in this scenario.