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Sale of property paper work - how long should I keep??

kiwibird
kiwibird Posts: 4 Newbie
in House buying, renting & selling
How long should I keep records of the sale of a property? Any ideas?

Comments

  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    5 years? Maybe 10?

    I still hav mine from 3 properties ago (23 years).
  • dancingfairy
    dancingfairy Posts: 9,069 Forumite
    I believe you can be chased for mortgage debts for 12 years so I would keep it for 12 years plus the current year just to be on the safe side.
    df
    Making my money go further with MSE :j
    How much can I save in 2012 challenge
    75/1200 :eek:
  • cattie
    cattie Posts: 8,844 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I keep all of mine for the historic value. Have recently gone through all mine as I prepare to put this house on the market. It's interesting to see that I started off with a property costing £4,750 and gradually moved to higher priced properties over the years to my current £275k house.
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
  • mgdavid
    mgdavid Posts: 6,711 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    at least 10 years... what does the statute of limitations say?
    The questions that get the best answers are the questions that give most detail....
  • Worriedmummy
    Worriedmummy Posts: 355 Forumite
    With regards to the statute of limitations I think it's only 6 years. I don't know for sure, but I know that companies are advised to retain financial documents for 6 years.
    Nice to keep for personal reasons though.
    2012 wins = £933 :j
    2013 wins so far = £4,025 :j

    July wins: Holiday to Marbella :j
  • Worriedmummy
    Worriedmummy Posts: 355 Forumite
    Actually ignore what I just said- just tried to look into it and it's actually 12 years for property related debts.
    .. I really should get a life rather than googling that on a Friday night :)
    2012 wins = £933 :j
    2013 wins so far = £4,025 :j

    July wins: Holiday to Marbella :j
  • jazzalbart
    jazzalbart Posts: 2 Newbie
    As for documents related to investments and real estate, they should be kept for at least seven years past the date you sell them. That includes: Paperwork for the purchase of a home or rental property, such as your closing statement, purchase contract, deed, mortgage, appraisal, survey, title insurance, and inspection reports Or Records and receipts for improvements to real estate.
  • Jeffrey_Shaw
    Jeffrey_Shaw Posts: 512 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Worriedmummy wrote: »
    Actually ignore what I just said- just tried to look into it and it's actually 12 years for property related debts.
    It's both!
    6yrs. for a contract debt [even if reserved by Deed, e.g. ground rent in a lease].
    12yrs. for other actions 'based on a specialty' [= a Deed].
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