Question

Escrow account records must be kept for at least three years at the brokerage office. (T/F)

Answer 1

Escrow account records must be kept for at least three years at the brokerage office.

Step-by-step explanation:

The statement is true. Escrow account records must be kept for at least three years at the brokerage office. An escrow account is a temporary account that holds funds until a certain condition is met. In the context of real estate transactions, escrow accounts are used to hold funds for the purchase of a property. Keeping records for a minimum of three years is important for record-keeping, auditing, and legal purposes.