Answered

The number of personal financial records a household has to organize may seem overwhelming. How long should you keep
documents relating to the purchase and sale of real estate?
Multiple Choice
Indefinitely
Until the mortgage is paid off
Until you move out of the house



Answer :

GinnyAnswer

Final answer:

It is recommended to keep real estate documents indefinitely for legal, financial, and tax purposes.


Explanation:

Documents relating to the purchase and sale of real estate should generally be kept indefinitely for legal and financial reasons. These include records such as deeds, closing statements, mortgage documents, contracts, and any receipts for home improvements.

Keeping these documents indefinitely is important for proving ownership, tracking property value changes, addressing any legal issues that may arise in the future, and for tax purposes.

By holding onto these records, you can protect your investment and ensure smooth transactions if you decide to sell the property at a later date.


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