Disclosure Documents Retention
- Thread Starter Artbuc
- Start date
PayrollHRGuy
Well-Known Member
Not that I can think of any reason to ever get rid of it but I'd keep it at least 8 years.
adjusterjack
Super Moderator
At least as long as the Statute of Limitations is for a lawsuit. 4 years for breach of contract. 2 years for torts generally.
Scan it to your computer and just leave it there forever. Then you don't have to worry about it. Takes up a just a few nanobytes. I would also scan your closing documents and deed and the mortgage release before disposing of them.
Scan it to your computer and just leave it there forever. Then you don't have to worry about it. Takes up a just a few nanobytes. I would also scan your closing documents and deed and the mortgage release before disposing of them.
Thx. Actually I do have the disclosure scanned into my desktop. Other docs are in paper files. I was getting organized for tax season and came across the file. I am a little OCD when it comes to getting rid of clutter and other unnecessary stuff. Seems like every time I chuck something I have not used for a long time, I immediately need it, lol. Yes, PA code says 2 year statute of limitations on real estate disclosure. I will keep it, for now.
adjusterjack
Super Moderator
Don't forget to back up the files on your computer.
Every week with Macrium Reflect. One new image on portable harddrive and another on salvaged harddrive I put in an enclosure. Sunday morning ritual.
adjusterjack
Super Moderator
Great minds think alike. Daily incremental backup automatically with NTI Backup EZ4. Frequent backup to separate hard drive that I keep away from the computer.
Tax Counsel
Well-Known Member
Keep them at least 7 year for tax purposes, and depending on the details of your transactions it could be more.
