How long do you keep old house closing documents?
Home Sale Records
|HOME SALE RECORDS|
|Document||How Long to Keep It|
|Home sale closing documents, including closing statement||As long as you own the property + 3 years|
|Deed to the house||As long as you own the property|
|Builder’s warranty or service contract for new home||Until the warranty period ends|
What documents should I keep after selling a house?
until you sell your home. Closing documents: Retain a copy of any document signed during your home’s closing as a backup. This may include the purchase agreement, addendums, disclosures and repair requests, escrow information, inspection reports, and a closing statement.
How long should you keep home purchase documents?
Keep Digital Copies Only and Shred the Hard Copies:
Home purchase, sale or improvement documents (keep for at least six years after you sell) Medical records and bills (keep for one year after payment in case of disputes)
Should I keep old property documents?
So, how long should you keep property records for? Temporary records should be kept for three to seven years, as this will help you keep on top of managing your mortgage (if you have one) and your property more generally.
How long after you sell a house are you liable?
Statutes of limitations are typically two to 10 years after closing. Lawsuits may be filed in small claims court relatively quickly and inexpensively, and without an attorney.
What documents should you keep after paying off your mortgage?
Although it might be tempting to shred the documents once the loan is paid off, homeowners should hold onto both the deed of trust and promissory note until the lien on the land is released. The homeowner should also keep the satisfaction note the bank sent that states the loan was paid in full.
How long should I keep credit card statements?
It’s a good idea to keep credit card statements for one year. That’s true for bank statements and your paycheck stubs too. Here’s why: You may need the documents to verify information, such as whether you were charged for or paid for a service.
How many years of tax returns should you keep?
Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
What papers to save and what to throw away?
What Documents Can I Throw Away—and When?
- Tax Returns. Old tax documents are probably the number one category of documents we’re asked about. …
- Bank Statements. …
- Explanation of Benefits (EOB) Forms. …
- Medical Bills. …
- Utility Bills. …
- Paycheck Stubs. …
- Credit Card Statements. …
- Wills and Estate Planning Documents.
What papers should I keep and for how long?
To be on the safe side, McBride says to keep all tax records for at least seven years. Keep forever. Records such as birth and death certificates, marriage licenses, divorce decrees, Social Security cards, and military discharge papers should be kept indefinitely.
What documents should I keep and for how long?
Knowing that, a good rule of thumb is to save any document that verifies information on your tax return—including Forms W-2 and 1099, bank and brokerage statements, tuition payments and charitable donation receipts—for three to seven years.