The DRE requires that transaction files be retained for three years. This retention period begins as of the date of the closing of the transaction, or if there is no closing from the date of the listing.
How many years must a broker keep all the records from the date of the conclusion of a transaction or listing of the transaction does not close?
Correct Procedure: A licensed broker must retain for three years copies of all listings, deposit receipts, canceled checks, trust account records, and other documents executed by or obtained by the broker in connection with any transaction for which a license is required.
How long must all records be kept in Florida?
¶61-260, Record-Keeping Requirements
Usually, this time is three years. If a taxpayer makes a substantial underpayment of tax or files a substantially incorrect return, however, the time period is six years.
Who inspects brokers records in Florida?
How long must an agent keep their transaction records?
Lesson Summary. In California, real estate records must be maintained for a minimum of three years, and must include copies of listings, contracts, deposit receipts, canceled checks and other normal real estate transaction records.
How long do real estate brokers have to keep records in Florida?
Each broker shall preserve at least one legible copy of all books, accounts, and records pertaining to her or his real estate brokerage business for at least 5 years from the date of receipt of any money, fund, deposit, check, or draft entrusted to the broker or, in the event no funds are entrusted to the broker, for