Legal Question in Real Estate Law in Massachusetts

How many years do I have to retain in MA all real estate transaction related documents? Is it 7 or 3 years?


Asked on 4/08/10, 9:07 am

1 Answer from Attorneys
Nicole Reeves Lavallee Reeves Lavallee, P.C.

For IRS purposes you should retain the records for 10 years. For any type of breach of contract action the statute of limitation is 6 years so you could throw them out after that. However if the IRS has questions and you do not have the records to support it then you not be able to claim the deductions.

Nicole

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Answered on 4/18/10, 7:04 am


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