Michigan License Law
A Michigan broker must keep real estate transaction records for a minimum of:
A1 year
B3 years✓ Correct
C5 years
D7 years
Explanation
Michigan requires real estate brokers to retain transaction records, including offers, contracts, agency disclosures, and trust account records, for a minimum of 3 years.
Related Michigan Michigan License Law Questions
- In Michigan, the Bureau of Professional Licensing (BPL) under LARA is responsible for:
- A Michigan broker who knowingly allows an unlicensed person to perform acts requiring a license faces:
- A Michigan real estate salesperson must complete which portion of continuing education each cycle?
- A Michigan real estate licensee must provide the Consumer Protection Notice:
- Under the Michigan Occupational Code, a real estate salesperson must be affiliated with:
- What is the minimum passing score on the Michigan real estate salesperson exam?
- LARA may initiate disciplinary action against a Michigan licensee for which of the following?
- Under Michigan law, a licensee who fails to renew their license by the renewal deadline is considered to have a(n):
Practice More Michigan Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Michigan Quiz →