Question

Brokers in Minnesota must retain copies of transaction-related documents, including listing and buyer representation agreements, agency disclosures, deposit receipts, and trust account records for at least ______.

(A) 1 year
(B) 2 years
(C) 3 years
(D) 5 years

Answer 1

Brokers in Minnesota must retain transaction-related documents for 5 years.

Step-by-step explanation:

In Minnesota, brokers are required to retain copies of transaction-related documents for a certain period of time. These documents include listing and buyer representation agreements, agency disclosures, deposit receipts, and trust account records. According to Minnesota law, brokers must retain these documents for 5 years.