Probate and Real Estate Sales Documents in Massachusetts Legal Matters
I just returned from a real estate closing involving a probate estate in Weymouth, Mass. It was a nice transaction where the buyers sold a property in South Weymouth (in the morning) and then turned around and bought a property from my sellers in North Weymouth. We had to scramble to pull it all together and obtain a temporary executor appointment and a license to sell real estate from the probate court, but that's another story -- it all worked out perfectly. During the closing, one of the sellers asked, "How long should I keep all these documents." Generally, the more important something is, the longer you should keep it. With today's technology I suggest keeping electronic copies of documents even beyond the times recommended. Depending on the documents, typical retention peiods range from 7-10 years for some items to 1-3 years for others. Nonetheless, from experience there are several probate and real estate documents I don't think you should destroy unless you are sure you won't need them:
- Discharge of mortgage (unless you are absolutely sure it's been recorded)
- HUD Settlement Statement
- Death Certificate
- Probate Appointments
- EIN Numbers or Taxpayer ID Documents (i.e. SS-4)
- Release of Liens
Remember, if you do make electronic copies, make sure you have a reliable backup system in place.
