South Dakota License Law
In South Dakota, a real estate licensee must retain transaction records for:
A1 year after the transaction closes
B3 years after the transaction closes✓ Correct
C5 years after the transaction closes
D10 years after the transaction closes
Explanation
South Dakota real estate commission rules require licensees to maintain records of all real estate transactions for a minimum of 3 years. These records must be available for inspection by the Commission upon request.
Related South Dakota South Dakota License Law Questions
- In South Dakota, the SDREC may issue a 'consent order' to resolve a license law complaint. This means:
- When a South Dakota real estate broker dies or becomes incapacitated, what happens to affiliated salesperson licenses?
- Under South Dakota law, can a real estate salesperson be an independent contractor rather than an employee of the broker?
- A South Dakota real estate broker who advertises using a team name or trade name must:
- In South Dakota, which of the following is a valid reason for the Real Estate Commission to revoke a license?
- A South Dakota real estate broker who pays an unlicensed person a commission or compensation for real estate brokerage activities has:
- How many continuing education hours must a South Dakota salesperson complete each license renewal period?
- Commingling in South Dakota real estate refers to which prohibited practice?
Practice More South Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Dakota Quiz →