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Record-Keeping Under California Law. California Business and Professions Code 10148 maintains that real estate brokers must keep all real estate transaction-related documents for three years.
CPRA requires you to retain the data for no longer than necessary. It states that your retention shall be reasonably necessary and proportionate to achieve the purposes for which it was collected, processed, or for another disclosed purpose.
Section 2729 - Record Retention (a) A real estate broker may use electronic image storage media to retain and store copies of all listings, deposit receipts, canceled checks, trust records and other documents executed by the broker or obtained by the broker in connection with any transaction for which a real estate
Records Retention 2.0 For example, any financial records must be kept for seven years after they are created or received and should be stored securely. And all business tax records must be kept for five years after the filing due date.
If youve been practicing for a long time, you should also remember that California law requires you to keep not only official documents but also transaction-related emails, for three years.
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Communications pertaining to representation or agreement may implicate the agent well after escrow closing. Due to the fact that lawsuits can be filed after the three-year recordkeeping requirement, it is ideal to retain records of all documentation.
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.
Per California Business Professions Code 10148, licensed real estate brokers are required to retain copies of all listings, deposit receipts, canceled checks, trust records and any additional documents they execute or obtain whilst conducting real estate business for three years.

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