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Saving Old Financial Paperwork

Discussion in 'Business, Careers & Education' started by PhilipJames, Oct 11, 2010.

  1. PhilipJames

    PhilipJames Member

    Messages:
    6
    Joined:
    Oct 13, 2009
    Location:
    Boston, MA
    Okay, this question is a little random, but I know there are a lot of lawyers and financial types on these forums so it seems as good a place as any to ask the question. I know the standard for keeping old financial documents (tax receipts, etc.) is seven years in case of an audit.

    However, I am wondering about some other documents. I have all the docs from buying a house five years ago which I have since sold. Now that I do not own the house anymore, do I still need to keep documents pertaining to the purchase until seven years have passed? I assume the lawyer who worked with on the closing for me would have copies of all of these anyhow.

    I am looking for any educated opinions...
     
  2. ArteEtLabore14

    ArteEtLabore14 Senior member

    Messages:
    557
    Joined:
    Oct 20, 2009
    Okay, this question is a little random, but I know there are a lot of lawyers and financial types on these forums so it seems as good a place as any to ask the question. I know the standard for keeping old financial documents (tax receipts, etc.) is seven years in case of an audit.

    However, I am wondering about some other documents. I have all the docs from buying a house five years ago which I have since sold. Now that I do not own the house anymore, do I still need to keep documents pertaining to the purchase until seven years have passed? I assume the lawyer who worked with on the closing for me would have copies of all of these anyhow.

    I am looking for any educated opinions...


    Assumption is the brother of all fuck-ups. Or the mother. And it also makes an ass of you and you.

    I don't have an "educated opinion" other than common sense which says to save something significant like the paperwork for the purchase/sale of a house for at least seven years, if not forever.
     

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