An Ohio broker is retiring and selling the brokerage to another licensed broker. Under Ohio Division rules, the transition process must include:
Correct Answer
C) Proper notification to the Division, transfer of all active licenses, transfer of trust account records, and notification to all clients with active transactions
Selling a brokerage requires an orderly transition: the Division must be notified, all salesperson licenses must be properly transferred, trust account records must be handed over, and clients with active transactions must be informed of the change. The new broker assumes responsibility for all ongoing obligations.
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