863-014-0063 Real Estate License Transfers, Managing Principal Brokers’ Responsibilities, Authority to Use Registered Business Name (1) As used in this rule , "License transfer application" means an online application that does one of the following: (a) Transfers a real estate broker or principal broker license to a receiving authorized principal broker in order to become associated with the managing principal broker, or (b) Authorizes a real estate broker or principal broker licensee to use a registered business name to conduct professional real estate activity. (2) An online license transfer application, available through the Agency’s website, includes: (a) The name of the licensee and license number of the licensee who is being transferred; (b) The receiving authorized principal broker’s name, license number, date, signature, and attestation authorizing the use of the registered business name. (3) The authorized managing principal broker who supervises the licensee remains responsible for the licensee’s professional real estate activity until the Agency receives one of the following: (a) An online inactivation application available through the Agency’s website; or (b) An online license transfer application and fee. (4) If neither the authorized principal broker who supervises the real estate licensee nor the real estate licensee complete s the online inactivation process, the authorized principal broker remains responsible for the licensee’s subsequent professional real estate activity until the Agency receives one of the following: (a) An online inactivation application; or (b) An online license transfer application and fee. (5) The Agency will document the registered business name under which a real estate licensee is authorized to conduct professional real estate activity when the Agency receives an online license transfer application, or a new registered business name application, and the transfer fee authorized by ORS 696.270. (6) Following a license transfer, a real estate broker may continue to engage in professional real estate activity on transactions that began while associated with the sending authorized principal broker under the following limitations: (a) Applies only to transactions involving the sale, exchange, purchase, or lease of real estate where there is a fully executed contract, an active written offer , or counter offer, or a letter of intent; (b) May only be done with the involved client’s documented approval; and (c) May only be done with written agreement between the sending authorized principal broker and the receiving authorized principal broker. The written agreement must: (A) Identify which authorized principal broker is responsible for supervision, including record retention; (B) Identify the transactions or transactions included in the written agreement; (C) State the effective date of the agreement; (D) Address agency relationships; (E) Specify how compensation will be handled; and (F) Be signed by the sending authorized principal broker, receiving authorized principal broker, and transferring broker. (7) Following a license transfer, a principal broker may continue to engage in professional real estate activity on transactions that began while authorized to conduct professional real estate activity for the previous registered business name under the following limitations: (a) Applies only to transactions involving the sale, exchange, purchase, or lease of real estate where there is a fully executed contract, an active written offer or counter offer, or a letter of intent; (b) May only be done with the involved client’s documented approval; and (c) May only be done with written agreement between the sending authorized principal broker and the receiving authorized principal broker. The written agreement must: (A) Identify responsibilities for supervision, as appropriate; (B) Identify responsibilities for record retention; (C) Identify the transaction or transactions included in the written agreement; (D) State the effective date of the agreement; (E) Address agency relationships; (F) Specify how compensation will be handled; and (G) Be signed by the sending authorized principal broker , receiving authorized principal broker , and transferring principal broker . Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS 696.020, ORS 696.022, Chapter 234, 2017 Laws & Chapter 389, (2025 Laws) History: REA 4-2025, amend filed 10/09/2025, effective 01/01/2026 REA 1-2017, amend filed 11/17/2017, effective 01/01/2018 REA 4-2014, f. 4-14-14, cert. ef. 4-28-14 REA 7-2011, f. & cert. ef. 11-15-11 REA 6-2011, f. 8-15-11, cert. ef. 9-1-11 REA 3-2011(Temp), f. & cert. ef. 6-22-11 thru 12-1-11 REA 1-2009, f. 12-15-09, cert. ef. 1-1-10 Renumbered from 863-015-0063, REA 5-2008, f. 12-15-08, cert. ef. 1-1-09 REA 4-2007, f. & cert. ef. 9-26-07