When the only broker in a real estate brokerage partnership dies or resigns, what must occur?

• A. Vacancy Must Be Filled Within 14 Days; No New Business Until New Active Broker Is Appointed and Registered; Ongoing Business May Be Concluded
• B. Partnership Immediately Dissolves
• C. DBPR Appoints Replacement
• D. All Partners' Licenses Are Automatically Suspended

Answer: (A)

When a real estate brokerage partnership has only one broker and that broker dies or resigns, the firm loses its supervising broker, which is required to conduct licensed real estate activities. The rule is that the vacancy must be filled within a short window—14 days—by appointing another qualifying broker who then registers with the DBPR. Until that new active broker is in place and registered, the firm cannot take on new business. However, any transactions already in progress can be concluded under the arrangements in place, so ongoing business may be finished.

This isn’t a mandate that the partnership dissolves immediately, nor does the regulatory body appoint a replacement for the brokerage. It also doesn’t suspend everyone’s licenses; the restriction centers on the brokerage’s need for a supervising broker and the timely replacement process.