Licensing
Record Retention
A concise definition for the California Real Estate Exam study guide.
Definition
California brokers must retain transaction and trust-fund records for 3 years. Period begins from the date of closing (consummated) or the date of listing expiration (non-consummated).
Why it matters on the California real estate exam
Know the definition, recognize how the term appears in a fact pattern, and compare it with related concepts before choosing an answer.
Study this topic in context
Read the related chapter for the surrounding concepts, examples, and exam tips.
Chapter 14: Taxation, Licensing & DRE Regulation →