Inactive Licenses - FAQs

What is the definition of "Inactive” status?

A license that is current (renewed), unsuspended or unrevoked, and is not affiliated with a broker, developer, or real estate company is an “Inactive” license. The inactive status does not allow the individual to conduct any real estate transactions until the license is placed on “active” status. NAC 645.040

 

How do I place my license on inactive status?

The Division requires the original Salesperson and broker Salesperson license to be returned with a signed termination notice form 505 from the broker. The Division must receive all original licenses within 10 days of termination or disassociation date.

The Broker returns their original license with the Location of Records form 512 and any real estate license on “active” status with form 505.

 

There are two types of “inactive” status:  Involuntary and Voluntary. What is the difference?

Involuntary- A license is placed on  inactive renewed status at the initiative of the Division. NAC 645.042

Voluntary-  A license is placed on  inactive renewed status at the initiative of the licensee. NAC 645.055

Within 30 days of the termination date, a  Salesperson or Broker-Salespersons may choose to place their license on “Voluntary Inactive” status form 506 or change brokers form 504. The broker has only 10 days to notify the division of “Voluntary Inactive” with form 506 or affiliate with a new company form 507. If neither option was chosen, the Division must place the license on “Involuntary Inactive” status. The license may not transact any real estate business until he reinstates his license to active status. The division retains the unaffiliated license.

 

Do I still need to renew my license if I am inactive and, if so, what is the fee?

Yes, the full renewal fee is due, whether your license is on an active or inactive status. Licenses on “inactive” status are not required to submit the continuing education certificates with the renewal transaction.

 

Will I lose my license if the renewal fee is not paid by the expiration date?  

Each licensee is responsible for renewing their license on time. If a license is not renewed, the license is placed on “Involuntary Inactive/Expired “ status after midnight of the renewal date. You may choose to renew your license within one year from the expiration date of your license. Late renewals pay the full renewal fee with an additional late penalty fee. Penalty fees are ½ of the renewal fee. When the payment of the renewal fee is neglected the result is the closure of the license and file. Please be aware of the expiration date on your license, as you are also considered unlicensed during the expiration period.

 

How long can my license remain inactive?

There is no time limit for how long a license can be on inactive status, however, you are still required to renew your inactive license or the result is closure of the license and file after one year from the renewal date.

 

What will I need to reinstate my inactive license?

Please review the application for reinstatement by using the following link: 

http://www.red.state.nv.us/Forms/544.pdf

 

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