How long must records of real estate transactions be retained in New Jersey?

In New Jersey, records of real estate transactions must be retained for at least six years. This requirement is in place to ensure that there is a comprehensive record of transactions for both regulatory compliance and potential audits. Retaining records for this duration supports the ability to resolve disputes, verify transactions, and maintain transparency in the real estate market. The six-year time frame aligns with the statute of limitations for certain legal actions related to real estate transactions, allowing for a reasonable period for any claims or issues to surface after a transaction has occurred. This retention period reflects a best practice for professionalism and accountability in the real estate industry.