If you are in a property dispute with your neighbor, do not worry because you are not the only one. It is not new to landowners to get into disagreements with adjacent neighbors, even if they have a good relationship with each other. The reason behind this is that sometimes a deed description is inaccurate. In other cases, someone may have overestimated the extent of their estate and built a boundary like a fence past the property line. Or there may have been multiple unrecorded deeds conveying the property to different people. To avoid misunderstandings, you should invest in making a compelling Affidavit of Title especially if there are more than one owners. Find out more in this article below. Read More
What Is an Affidavit of Title with Multiple Owners?
When an individual sells a house, vacant land, or other piece of property, there are certain requirements. One of these requirements is an affidavit of title as most states require in buying and selling of real estate properties. An affidavit of title is a document that outlines the seller’s ownership of the title to the property. In other words, it is proof that the seller owns the property. Additionally, the seller swears under oath that the facts in an affidavit of title are true and correct.
How Do You Create an Affidavit of Title with Multiple Owners?
Whether you are to create an affidavit of guardianship or an affidavit of domestic partnership, it is crucial to be familiar with the legal requirements mandated by the local court because it varies on what place you are living in. Or you can consult an attorney to obtain professional advice from them. Moreover, if you want to hasten the process of writing your affidavit, use a template. It will increase your productivity and efficiency because of the suggested content written by our professional writers and talented graphic designers. The list below will guide you on how to use a template in making an affidavit. Continue reading.
Download a Ready-Made Template
Are you looking for a reliable source where you can get a template from? You’ve come to the right place because we got you covered. Our website offers a variety of editable stencils that you can use for business-related purposes or not. For more exclusive perks, sign up for any of our subscription plans. Downloading your template is very easy—click the download button and the template will automatically be stored in your device.
Choose a Suitable Editing Tool
Now that you already have a template. The next step is to look for an editing tool suitable for the template format. You cannot use any editing software of your choice because it has to be compatible with your template. Otherwise, it will compromise the convenience the template could have contributed. All compatible editing tools should be featured there together with the templates. If not, then it is when you know you have to pick another template to use.
Start Modifying Your Template
If you have found the best editing tool to go with your template, the next best thing to do is to start modifying your template. Open the editing tool on your device. Start a new project and import the template into the editing tool. If you cannot locate the template, click the download storage. It should be there. Start modifying by adding an appropriate title to your affidavit. The title should tell what the document is all about. After that, identify the affiants, if there are multiple owners, and the clerk. Also, provide a description of the property, and indicate the acquisition date.
Finalize the Document
To make sure that the affidavit is valid, let the affiant sign and get it notarized. Legal requirements pertaining to an affidavit of title varies depending on the what state you live in. Thus, it is crucial to be familiar with the laws over property transfer before starting to write an affidavit. You can consult an attorney to get advice and guide you through the process of buying or selling properties.
What should an affidavit of title contain?
As you already know, laws in every state are different. Thus, your affidavit must abide by the regulations provided by your state. Generally, an affidavit of title contains the following: (1) the name and address of the seller; (2) a statement that the seller is the true owner of the property; (3) a statement that the seller has not sold or entered into a contract to sell the property to another buyer; (4) a statement that there are no liens or encumbrances against the property to be sold; (5) a statement that there are no assessments against the property; and (6) a statement that the sellers have not declared bankruptcy.
Why is an affidavit of title necessary?
Buyers can benefit from an affidavit of title. First, it provides added protection against the seller for the buyer that the property is free and clear of any legal problems involving claims of ownership by other parties. Additionally, an affidavit of title offers the buyer another written document to be used against the seller if any future disputes arise when someone claims to have a lien against or ownership over the property. Lastly, the affidavit of title guarantees that the property may not otherwise be available for sale.
Is there any exclusion to an affidavit of title?
Depending on the particular circumstances of the real estate transaction (and the state in which it’s occurring), every affidavit of title may differ in details. Most of the time, there may be exclusions from the affidavit of title. In case a property may still have a mortgage that has not been paid off at the time the parties are ready to close a deal, the affidavit of title can provide a statement that there is an exclusion for the mortgage on the property.
Who requires and obtains the affidavit of title?
A title company requires an affidavit of title. It is an organization that issues title insurance at the closing of real estate transactions, to insure that the property is free and clear of any claims and that there are no other owners of the property. Also, the title company will require the seller to execute an affidavit of title in order to make sure that any problems are cleared up at the time of closing.
An affidavit is not the only document that can fix disputes in line with properties. However, it is one of the most common forms to help you get through issues with your house or any other real estate properties. Now is your chance to get our affidavit template by browsing through our website. Sign up to any of our subscription plans and enjoy exclusive perks.