The Tennessee Real Estate Commission is investigating a complaint filed against Affiliate Broker Devon for allegedly misrepresenting the condition of a property to a buyer. During the investigation, TREC requests Devon's transaction files and correspondence. Devon refuses to provide the documents, claiming they are private business records. Which of the following best describes TREC's authority in this situation under Tennessee law?
Correct Answer
B) TREC has the authority to subpoena documents and records as part of its disciplinary investigation under the Tennessee Real Estate Broker License Act.
Under Tenn. Code Ann. § 62-13-101 et seq., TREC has broad investigative and disciplinary authority, including the power to subpoena documents, records, and witnesses as part of its disciplinary proceedings. Devon cannot refuse to comply with a lawful TREC subpoena by claiming business privacy. TREC's subpoena power is a core element of its regulatory authority over Tennessee licensees.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
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