Retention of documents and records – HDB resale flat for sale
(1)HDB resale flat for sale. For the purposes of the Act, an estate agent shall retain the originals or keep copies of the following documents for at least 3 years:
(a) all applications to the Council in respect of estate agent’s licence and the registration of salespersons under the Act, including supporting documents;
(b) all estate agent and salesperson agreements;
(c) all estate agency agreements;
(d) all documents relating to property transactions, including —
(i) sale and purchase agreements, and options to purchase;
(ii) lease and lease agreements, and letters of intent to lease;
(iii) Housing and Development Board documents and forms, including Resale Checklists and approvals for the sub-letting of Housing and Development Board flats;
(iv) documents evidencing the receipt and payment of transaction monies;
(v) powers of attorney and letters of authorisation; and
(vi) declarations made by estate agents or salespersons of any conflict or potential conflict of interests; and
(e) all documents and correspondence in respect of claims or complaints, including the result of investigations and any action taken.
(2) Copies of documents retained for the purposes of paragraph (1) may be in electronic form.
(3) Paragraphs (1) and (2) do not affect any statutory obligation or requirement that may require the retention of documents or records for other purposes or for a different period of time.
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