Affidavit of Title
Frequently Asked Questions about Affidavit of Title
What is an Affidavit of Title?
An Affidavit of Title, also known as an Owner’s Affidavit, is a legal document in which the property seller swears they hold clear title to the property and have disclosed any known liens, encumbrances, or legal issues.
Why is an Affidavit of Title important in real estate transactions?
It provides a sworn statement by the seller to the buyer and title company that there are no undisclosed ownership issues, helping to protect against future legal claims and ensuring clear title transfer.
Who typically provides the Affidavit of Title?
The property seller or their legal representative provides the Affidavit of Title at closing as part of the standard documentation package.
What kinds of claims or issues does an Affidavit of Title address?
It addresses known liens, unpaid taxes, judgments, pending legal actions, or other title defects that could affect the ownership or transferability of the property.
Is an Affidavit of Title the same as title insurance?
No, it is not the same. The affidavit is a sworn statement from the seller, while title insurance is a separate policy purchased to protect the buyer and lender from unknown title issues.
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