What is the timeframe for reporting a change of name or address?

What is the timeframe for reporting a change of name or address?

• A. 5 days
• B. 10 days
• C. 30 days
• D. 60 days

Answer: (C)

The requirement to report a change of name or address within a specific timeframe is crucial for maintaining accurate records with regulatory bodies. Reporting a change within 30 days ensures that all communications and documentation can be updated accordingly, which aids in compliance with state regulations. This timeframe is designed to ensure that licensees keep their contact information current, facilitating effective communication between the real estate professional and the governing agency. In Virginia, having an accurate name and address on file is important for licensing and regulatory purposes, including the receipt of important legal notifications and renewal information. By requiring updates within 30 days, the state can minimize the risk of issues arising from outdated information, such as missed deadlines for renewals or notifications about rule changes.

The requirement to report a change of name or address within a specific timeframe is crucial for maintaining accurate records with regulatory bodies. Reporting a change within 30 days ensures that all communications and documentation can be updated accordingly, which aids in compliance with state regulations. This timeframe is designed to ensure that licensees keep their contact information current, facilitating effective communication between the real estate professional and the governing agency.

In Virginia, having an accurate name and address on file is important for licensing and regulatory purposes, including the receipt of important legal notifications and renewal information. By requiring updates within 30 days, the state can minimize the risk of issues arising from outdated information, such as missed deadlines for renewals or notifications about rule changes.