Owner's title policy

[t74]

What is the name of your state? OK

Is ir necessary to save the owner's title policy once a house is sold? If so, for how long?

 

[FlyingRon]

I'd keep it for a while. If your buyer (or someone downstream) has an issue with the title, they can likely come after you for five years.

 

[t74]

I'd keep it for a while. If your buyer (or someone downstream) has an issue with the title, they can likely come after you for five years.

Thanks.

 

[adjusterjack]

Scan it on to your computer, keep it forever, and forget about it.

 

[LdiJ]

Scan it on to your computer, keep it forever, and forget about it.

Eh...how long is the computer going to work and be available to retrieve the item? I'd just keep the closing packet in a safe place.

 

[Zigner]

Eh...how long is the computer going to work and be available to retrieve the item? I'd just keep the closing packet in a safe place.

It depends on your backup & retrieval system

 

[LdiJ]

It depends on your backup & retrieval system

True, the backup and retrieval system matters but still, your backup and retrieval system only works as long as the software is still compatible with the hardware. We guarantee that we can store things for 10 years and still retrieve them, but we don't guarantee any longer than that, even though we are at about 14 years right now. I haven't had a computer last more than 5 years at home. Sure I could store things on memory sticks, but if ten years from now memory sticks are obsolete, I might have a hard time retrieving that data.

Computers are wonderful things but anything truely important goes into the safety deposit box in hard copy.

 

[t74]

Eh...how long is the computer going to work and be available to retrieve the item? I'd just keep the closing packet in a safe place.

I sis not considere the closing packages as I have not unearthed them from the non-filing system I have used for over 50 years df married life.

 

[Zigner]

True, the backup and retrieval system matters but still, your backup and retrieval system only works as long as the software is still compatible with the hardware. We guarantee that we can store things for 10 years and still retrieve them, but we don't guarantee any longer than that, even though we are at about 14 years right now. I haven't had a computer last more than 5 years at home. Sure I could store things on memory sticks, but if ten years from now memory sticks are obsolete, I might have a hard time retrieving that data.

Computers are wonderful things but anything truely important goes into the safety deposit box in hard copy.

I agree with you.

 

[FarmerJ]

When LdIJ mentioned computers dying , my favorite , my desk top had to go to the shop and as luck would have it a older desk top I used as a spare , the hard drive died. so now im using my glorified movie watcher (laptop) I have a few old floppy disk drive and it can be plugged in to read 1.44 disk BUT some day I imagine even those wont work SO Ive taken to making real paper copies with a printer that uses ink, laser type printers the print fades too easily.