Legal Question in Real Estate Law in California

Saving paid off mortgage documents

I have refinanced my house several times. How long do I need to keep the paid mortgage loan documents? Including the original purchase loan?

Amber


Asked on 12/30/06, 5:20 pm

1 Answer from Attorneys
Anthony Roach Law Office of Anthony A. Roach

Re: Saving paid off mortgage documents

Once the power of sale has been reconveyed to you, I can absolutely see no need to keep loan documents except for tax purposes. From a real estate perspective, if the reconveyance has been recorded, it will be a matter of public record kept on microfiche at the county recorder's office.

For a tax perspective, I think you need to save something like that for seven (7) years, but I could be wrong as I do not handle detailed tax matters like that.

Very truly yours,

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Answered on 12/30/06, 9:30 pm


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