Sec. 20-325m. Real estate brokers to retain certain real estate transaction records.
Sec. 20-325m. Real estate brokers to retain certain real estate transaction records. Any real estate broker licensed under the provisions of this chapter who engages
in the real estate business, as defined in section 20-311, shall retain the following records
for a period of not less than seven years after any real estate transaction closes, all funds
held in escrow for such transaction are disbursed or the listing agreement or buyer
or tenant representation agreement expires, whichever occurs later: (1) All purchase
contracts, leases, options, written offers or counteroffers drafted by such broker or on
behalf of such broker; (2) the listing agreement or buyer or tenant representation
agreement, any extensions of or amendments to such agreements and any disclosures
or agreements required pursuant to sections 20-325a to 20-325l, inclusive; and (3) all
canceled checks, unused checks, checkbooks and bank statements for any escrow or
trust account maintained pursuant to section 20-324k. Such records may be retained in
any format, electronic or otherwise, capable of producing an accurate copy in paper
format of the original document.
(P.A. 06-12, S. 1.)