Tennessee License Law
How long must a Tennessee principal broker retain transaction records?
A1 year
B2 years
C3 years✓ Correct
D5 years
Explanation
Tennessee requires principal brokers to maintain all transaction records, including contracts, agency disclosures, and closing documents, for a minimum of 3 years from the date of the closing or termination of the transaction.
People Also Study
Related Tennessee Questions
- A Tennessee affiliate broker who wants to upgrade to a principal broker license must have at least how many years of experience as an affiliate broker?Tennessee License Law
- A Tennessee licensee who changes principal brokers must:Tennessee License Law
- When a Tennessee principal broker retires or dies, affiliate brokers in the firm:Tennessee License Law
- A Tennessee affiliate broker's authority to bind the principal broker in contracts is called:Agency
- Tennessee's agency disclosure law requires the use of a form that is:Agency
- In Tennessee, the county register of deeds records documents in which public record system?Escrow & Title
- If a Tennessee licensee's principal broker is found guilty of license law violations, the affiliate brokers associated with the firm:Tennessee License Law
- A Tennessee commercial property manager collecting CAM charges must maintain detailed records of:Property Management
Key Terms to Know
State-Specific Concepts
License Law
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →