Ch$.21-$ Final Exam $>$ Pg$.4-$ Course Final Exam

CONTACT CUSTOMER SERVICE

The FREC is investigating a claim by a buyer that the broker had not given the proper disclosure to the buyer before the buyer purchased a home. The broker has paperwork dating back three years from the date of the signing of the document in question and one year after the legal action of the case. Is the broker protected?

Yes. Because the broker had the records at the time of the case, he is fine

Yes. Because the broker has records dating back three years, he is fine.

No$.$ The broker needs to keep the records five years from the date of the document and two years after any legal action.

No$.$ The broker is better off without any record of the disclosure; the buyer can't sue if there is no record.