In Arizona, what is the minimum time a broker must keep transaction records?

In Arizona, what is the minimum time a broker must keep transaction records?

• A. 1 year
• B. 2 years
• C. 3 years
• D. 5 years

Answer: (B)

In Arizona, the law requires brokers to maintain transaction records for a minimum of three years following the completion of the transaction. This period is established to ensure that brokers have sufficient documentation for reference in case of disputes or inquiries from regulatory bodies. Keeping records for this duration helps uphold transparency in real estate transactions and allows for any necessary audits or investigations to be managed effectively. The retention of transaction records such as agreements, disclosures, and correspondence is crucial for compliance with state regulations.

In Arizona, the law requires brokers to maintain transaction records for a minimum of three years following the completion of the transaction. This period is established to ensure that brokers have sufficient documentation for reference in case of disputes or inquiries from regulatory bodies. Keeping records for this duration helps uphold transparency in real estate transactions and allows for any necessary audits or investigations to be managed effectively. The retention of transaction records such as agreements, disclosures, and correspondence is crucial for compliance with state regulations.