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Do we still have to keep bills and receipts FOREVER?


Ferret
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It's the Telmex and Telcel bills that are the fattest. After five years, my accordian file is busting its britches.

In the past, if you owned your own home and wanted to sell it, you had to have Telmex and Electric bills as proof that it was your primary residence. It had to do with Capital Gains. Is that still the case with computerization available? I'd really like to shred some of these. T.I.A.

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TelCel bills to my knowledge were never used nor requested by Notarios for proof of residence re: capital gains.

I would like to hear from realtors about what is required these days by Notarios.  In 2012 we had to provide hard copies of both CFE and TelMex.  

I keep CFE bills and print out of the payment page of my TelMex, but as @Ferret asks, do we still need to do so in this day and age where data can be verified at CFE and TelMex sites?

Also curious about names on bills---at our former house the CFE bill was in joint names.  When we bought this house in 2017 CFE told us we could only have ONE person's name on the account.  To cover ourselves, we put TelMex account in the other spouse's name. 

But what if we cancel TelMex...is there an issue for 2nd spouse's proof of residence at the time of house sale??

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Or you can get an account online and then download statements and keep on cloud, computer or email

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I do have my Telmex online BUT don't have cloud and don't really want cloud either. I want to know if Telmex and CFE can provide computer verification because computers can and do fail and lose information. OR is the hard copy still needed. I am assuming, of course, that Telmex and CFE have computers that don't and will never fail. ;)

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2 hours ago, Intercasa said:

Or you can get an account online and then download statements and keep on cloud, computer or email

Q remains, what will Notarios accept?  Even if I store on pc or in cloud, are they still going to want them printed out?  If so, I'd rather print monthly now than print 5+ years worth of bills in one fell swoop!

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Ferret if you do not have an answer I will ask the notario on the third. I do not keep the receipts more than one year and now I save the statementss on the cloud. I had 20 years of records I just through in the fire, I am tired of all this paper we have to keep for ever... IIll post what the notario says.

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I have often joked that if you live in Mexico, you'd better keep every piece of paper you've been issued since the day you were born, along wiith a dozen copies of each. Which isn't that far from the truth.

I don't know the answer to your question, Ferret. I certainly haven't kept all my CFE bills. What I kept is the original first bill, to show when I first got my contract. Other than that, I only keep the current year's bills.

I'll be interested to see what bmh finds out if she asks her notary.

 

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We sold our Ajijic primary residence in 2004, and our subsequent Chapala primary residence in 2014. I do not remember having to present stacks of receipts to prove that both homes qualified. They did. Talk to your notario if you are worried. He, and/or the real estate agent, will tell you what you need for closing.

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In late 2012 we consulted with a Notario prior to listing our first Ajijic house for sale and he said we wouldn't owe the capital gains tax based on what we told him.  Prior to settlement he asked for the TelMex and CFE bills to support our eligibility. 

Notarios are personally on the hook for the capital gains tax if upon review of the paperwork (by Hacienda, I believe) that s/he should not have exempted a seller from it. 

 

 

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Keep all receipts, more likely to need them if someone tries to steal your property than exempt capital gains.

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2 hours ago, RVGRINGO said:

We sold our Ajijic primary residence in 2004, and our subsequent Chapala primary residence in 2014. I do not remember having to present stacks of receipts to prove that both homes qualified. They did. Talk to your notario if you are worried. He, and/or the real estate agent, will tell you what you need for closing.

Notario number 3 in Villa Nova is a Licenciada Villaseñor Pujol, So there is at least one notario who is a woman  in the area. RV you left a long time ago things are changing or have changed.

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1 hour ago, InChapala1 said:

This maybe off topic, but how does someone try to steal your property? Doesn't a notario have to transfer title to a new owner?

No you are on topic; why is a Notary charging up to 5% of its value for a transfer of property if that is not a form of title insurance . Telmex; cfe; etc. and all that other  stuff is non-cense-Proof of title is the last word- $15,000 notory fee for a $300,000 piece of property  is not proof of title-- sounds like what people above are talking about above is squaters rights--

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People fake deeds and forge documents, they trick notaries and other notaries do not catch the mistakes, notaries who make mistakes never own up to it and you are forced to sue the people involved and need evidence.

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