(a)

Terms Used In Tennessee Code 62-13-318

  • Acquisition agent: means a person who by means of personal inducement, solicitation, or otherwise attempts directly to encourage any person to attend a sales presentation for a time-share program. See Tennessee Code 62-13-102
  • Affiliate broker: means any person engaged under contract by or on behalf of a licensed broker to participate in any activity included in subdivision (4). See Tennessee Code 62-13-102
  • Broker: means any person who, for a fee, commission, finders fee or any other valuable consideration or with the intent or expectation of receiving a fee, commission, finders fee or any other valuable consideration from another, solicits, negotiates or attempts to solicit or negotiate the listing, sale, purchase, exchange, lease or option to buy, sell, rent or exchange for any real estate or of the improvements on the real estate or any time-share interval as defined in the Tennessee Time-Share Act, compiled in title 66, chapter 32, part 1, collects rents or attempts to collect rents, auctions or offers to auction or who advertises or holds out as engaged in any of the foregoing. See Tennessee Code 62-13-102
  • Real estate: means and includes leaseholds, as well as any other interest or estate in land, whether corporeal, incorporeal, freehold or nonfreehold, and whether the real estate is situated in this state or elsewhere. See Tennessee Code 62-13-102
  • Time-share salesperson: means any person acting as a seller of any time-share interval under contract with or control of a licensed real estate broker pursuant to a registered time-share program. See Tennessee Code 62-13-102
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(1) Upon written request accompanied by the license and the fee for change of status, any real estate firm, real estate broker, affiliate broker, time-share salesperson, or acquisition agent may temporarily retire the license.
(2) If the retiree wishes to remain in retirement for any portion of a subsequent license renewal period, the retiree shall pay the required license renewal fee prior to the license expiration date.
(3) No retired licensee may engage in any act defined in § 62-13-102.
(4) The retiree is responsible for advising the commission of the retiree’s current mailing address.
(b)

(1) A licensee wishing to reactivate a license from retirement status shall submit the proper form and fee for a change of status.
(2) Reactivation of a temporarily retired license shall not be permitted until the licensee provides proof of completion of sixteen (16) classroom hours in real estate courses as specified in § 62-13-303 during the current license renewal period.
(c) Any license in inactive status with the commission on July 1, 2016, shall be transferred to retirement status on that date.
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