Affidavit of Title

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An affidavit of title is a legal document that presents a sworn assertion about the ownership and status of a property’s title in a particular place. It is completed by the seller or current owner of the property and used during the sale or transfer of real estate. Find out more about what goes into an affidavit for a title below.

Importance of an Affidavit of Title

An affidavit of title is highly crucial to note since it gives protection and information but does not guarantee a perfect title. It depends on what the seller knows or declares; thus, conducting a thorough search for titles and taking out title insurance are highly recommendable for additional fortification. But neither does its purpose belittle, as mentioned below.

Essential Elements in an Affidavit of Title

When you draft the affidavit of title, be sure to include these points:

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Common Challenges Involved in Creating an Affidavit of Title

Making an affidavit of title may come with certain issues and problems. Some of these are:

Key Terms for an Affidavit of Title

Final Thoughts on an Affidavit of Title

An important paper in real estate transactions is the title affidavit, which proves the legitimacy and good faith of property ownership. The instrument protects not only lenders but also purchasers because it is under oath to be the correct statement of the title of the land, including, without limitation, ownership interest, liens, encumbrances, and other related aspects. It, therefore, gives them an informed choice on what to do with respect to a particular piece of land and minimizes the legal bills associated with this process or risks involved therein, thereby streamlining the transfer of ownership when it passes to another entity. However, one should take note that an affidavit for a title is not tantamount to a perfect title but needs other items, such as detailed title searches or some form of titling insurance. To surmount all these complexities and meet all the concerns of local laws, one needs professional advice from real estate attorneys or even title professionals. While dealing with this issue, appropriately drafted and attested affidavits bring more confidence in property transactions.

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ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.