A real estate broker is accused of taking money from the company escrow account to pay personal expenses. The broker decides that she does not want to go through the hearing process so the broker turns over her real estate license to the DBPR. What term describes this situation?

Question

16-10-2019
Business

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A real estate broker is accused of taking money from the company escrow account to pay personal expenses. The broker decides that she does not want to go through the hearing process so the broker turns over her real estate license to the DBPR. What term describes this situation?

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enyo enyo · Answer 1 · 2019-10-17T08:38:50+02:00

Answer: Voluntary relinquishment for permanent revocation

Explanation:

From the following case/scenario, we can state that the terminology that best describes the situation is Voluntary relinquishment for permanent revocation. Under this situation licensee and respondent tends to choose to avoid the disciplinary hearing . The licensee might voluntarily tend to relinquishes his/her real estate license. There is also a possibility that they permanently might put licensee out of this business.