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.
What is the most important document in real estate?
What is the most important document in a real estate transaction and why? Contract of sale because it determines virtually all the important aspects of the transaction—price and other terms, property interest conveyed, grantee(s), conditions of the transaction.
Do I need to keep old house deeds?
It’s a good idea to keep the original deeds though, as they can hold extra information, about legal boundaries or who the previous owner was, for example. If your property isn’t on the register and you choose to apply for first registration, you’ll need to submit the original deeds to us.
How long should you keep old mortgage closing documents?
Actual contract papers detailing your home purchase and original loan should be kept for the life of the loan. Other loan paperwork, such as refinancing agreements, should be kept for at least three years; some recommend keeping these as long as ten years.
Do I need to keep closing documents?
When you close on your loans, you should have received a closing statement outlining all of the closing costs associated with the deal. You’ll want to keep these closing statements handy. By keeping them, you can keep track of what you paid to close each loan.
What are the property documents?
Here is an important checklist of property documents you need to have a look at!
- Sale Deed: …
- RTC Extracts: …
- Khata Certificate and Extracts: …
- Mutation Register Extracts: …
- Joint Development Agreement: …
- General Power of Attorney: …
- NOC: …
- Ratification Deed:
Who keeps title deeds?
Original title deeds are usually stored with a solicitor or conveyancer who acted on the last sale of the property. Alternatively, you may find they have been retained by your mortgage provider if you have a mortgage on the property.
How long should I keep credit card statements?
Credit Card Statements: Keep them for 60 days unless they include tax-related expenses. In these cases, keep them for at least three years. Pay Stubs: Match them to your W-2 once a year and then shred them. Utility Bills: Hold on to them for a maximum of one year.
What happens if I lose my house deeds?
You may apply for first registration of land if the title deeds have been lost or destroyed. … It is often more important to prove who held the deeds prior to their loss or destruction than to establish what they contained.
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 investment statements?
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.
What records 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.