Washington License Law
Washington's license law requires designated brokers to maintain transaction records for a minimum of:
A1 year
B2 years
C3 years✓ Correct
D5 years
Explanation
Washington's RCW 18.85 requires designated brokers to retain transaction records, including purchase agreements and trust account records, for a minimum of three years.
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Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
State-Specific Concepts
Trust Account RulesLicense Law
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