All listing agreements and sales contracts are the legal property of the brokerage, not the individual salesperson who procured them. The broker of record is legally responsible for maintaining these original documents for a minimum of six years. Permitting a terminated salesperson to remove original contracts would be a direct violation of the New Jersey Real Estate Commission's record-keeping rules (N.J.A.C. 11:5-5.4) and a breach of the broker's fiduciary duty to their clients. The other options describe actions that are explicitly required of the broker upon a salesperson's termination.

A. This is incorrect because New Jersey regulations require the broker to provide the terminated salesperson with a complete written accounting of all monies due within 30 days of termination.

C. This is incorrect because the broker is required to pay any undisputed compensation from transactions closing after termination within ten days of the broker's receipt of the funds from the closing.

D. This is incorrect because in the event of a compensation dispute, the broker must provide the salesperson with a written explanation of their position regarding the disputed amount.

1. New Jersey Administrative Code, Title 11, Chapter 5 (New Jersey Real Estate Commission Rules), N.J.A.C. 11:5-4.3, "Termination of employment of salespersons."

Section (f): "Upon termination of the employment of any salesperson, the employing broker shall provide to the salesperson a complete written account of all monies due the salesperson..." (Supports the requirement in option A).

Section (e): "...the former employing broker shall pay the commission to which the terminated salesperson is entitled within 10 days of the receipt of the funds from the closing." (Supports the requirement in option C).

Section (g): "In the event of a dispute...the broker shall...provide to the salesperson a written explanation of the broker's position with regard to the disputed amount." (Supports the requirement in option D).

2. New Jersey Administrative Code, Title 11, Chapter 5 (New Jersey Real Estate Commission Rules), N.J.A.C. 11:5-5.4, "Records to be maintained by broker."

Section (c): "Every broker shall keep copies of all listings, contracts of sale...and other documents related to any real estate transaction wherein the broker may have an interest for six years." This establishes that these records belong to and must be maintained by the broker, making it improper to allow a salesperson to remove them.

3. Rutgers, The State University of New Jersey, Center for Real Estate. Course materials for the New Jersey Real Estate Salesperson license often cover the New Jersey Administrative Code, emphasizing that all business, including listings and contracts, is conducted in the name of the supervising broker and that all records are the property of the brokerage firm. This principle is foundational to real estate agency law.