How long must an Ontario real estate brokerage retain its trust account records, unless the registrar specifies a different period?
Correct Answer
A) At least 6 years
O. Reg. 579/05 s. 19 requires a brokerage to retain all documents and records it must make under the Act and regulations, including trust records, for the period the registrar specifies or, if none is specified, for at least six years. Six years is a minimum, not a maximum.
Why This Is the Correct Answer
At least six years is correct because O. Reg. 579/05 s. 19 sets that minimum for records a brokerage is required to make, unless the registrar specifies another period.
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