Keep the following real estate records for the duration of ownership: deeds, title papers, mortgage documents, tax assessment notices, papers showing the price you paid for property, and those showing the price when you sold. This would include all papers from former lenders. Also keep records of capital improvements to your property, including bills and receipts, for the duration of ownership plus an additional six years for tax purposes. You will want to keep these records in a safe deposit box or a safe at home. As a rule, anything you can't replace, or that would be costly or troublesome to replace, should go in a safe deposit box. We would like your feedback on this Personal Finance Frequently Asked Question.

Browse related Faqs by tag: personal finance, recordkeeping, mortgagepapers