Does anyone know how long we need to maintain records of discharges of mortgages in Ohio? Thanks in advance.

You would think that the answer is simple, but it depends.

If the mortgage is:

(i) part of a "consumer credit loan", then 1 year [see ORC §1109.69 (A)(1)(h)];

(ii) not part of a "consumer credit loan", then 6 years [see ORC §1109.69 (A)(2)(e)]; BUT

If the OH superintendent of financial institutions designated a retention period specifically for paid off mortgage loans [see ORC §1109.69 (B)], then the retention period can be either 1 or 6 years.

If the superintendent made such a designation, it would be in the Ohio Administrative Code, which can be accessed at:

http://onlinedocs.andersonpublishing.com/oac/

The safe answer is to keep it for 6 years, but that might take up a lot of unnecessary storage space. If you find the precise answer, please post so all can see.

Dear Anon, how would you like to be the moderator for the brand new Ohio forum????? If so, let Mary Beth or Michele know.....

Thats a HUGE compliment, but I cant.

I post anonymously specifically so that I dont create any issues with my employer.

I will, however, try to check in as often as my schedule permits.