Question

Colorado Real Estate Commission Rule E-4 and E-5 give direction about retaining the needed contracts after closing a transaction. Which copies are exceptions to the rules?

Answer 1

Answer:

According to Colorado Real Estate Commission Rule E-4 and E-5, copies that are exceptions to the rule include; notes, mortgages, deeds and trust deeds.

Furthermore, settlement sheets, listings, and any other document that it is required for the parties to impend their signatures, have to be retained for a period of four years even after closing a transaction or a contract.

Explanation: