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Which of these is Minnesota broker Nancy NOT required to retain for six years?

A. Transaction records of all property management activities.
B. Records of all real estate sales transactions, including purchase agreements and closing statements.
C. Copies of all property listings and expired listings.
D. Emails and correspondence with clients.

User DFord
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1 Answer

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Final answer:

Minnesota broker Nancy is not required to retain emails and correspondence with clients for six years, as these do not fall under the formal transactional records retention requirements set by Minnesota real estate laws.

Step-by-step explanation:

The question concerns real estate regulations in Minnesota, specifically the record retention requirements for real estate brokers. According to Minnesota real estate laws and regulations, brokers such as Nancy are required to retain crucial documents related to real estate transactions. These documents generally include transaction records of property management activities, records of real estate sales transactions, including purchase agreements and closing statements, and copies of property listings, both active and expired. However, typical correspondence, such as emails and other routine communications with clients, is not generally mandated to be kept for as long a period as the more formal transactional records.

Thus, of the options provided, Minnesota broker Nancy is not required to retain option D, emails and correspondence with clients, for six years.

User Kimkevin
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