All records required in this chapter to be kept and maintained by a real estate broker, including trust account and financial records, transaction files and other records are to be kept in the broker’s files according to this section. The following records must be kept by a broker for three (3) calendar years after the year in which the event occurred, the transaction closed, all funds were disbursed, or the agreement and any written extension expired:
(1)  The original or true copy of all accepted, countered or rejected offers;
lawyer at desk

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Idaho Code 54-2049

  • Real estate broker: means and includes:
Idaho Code 54-2004
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
    • (2)  Listing or buyer brokerage representation agreements and "consent to limited dual representation" forms;
    (3)  Transaction files and the contents required in section 54-2048(3), Idaho Code;
    (4)  Trust account ledger records; and
    (5)  All trust account reconciliation records, as defined in this chapter.