AFFIDAVIT OF TITLE Meaning and
Definition
-
An affidavit of title is a legal document that serves as a sworn statement by a person claiming ownership of a property. It outlines specific details regarding the ownership history, rights, and encumbrances related to a particular piece of real estate. The purpose of this document is to establish and certify the individual's ownership and guarantee a clean title to the property.
This affidavit typically includes crucial information such as the name of the property owner, a description of the property, the date of purchase, and any relevant mortgage agreements or liens. It may also involve a statement confirming that the property does not have any pending legal claims, unpaid taxes, or other outstanding issues that may affect its ownership status.
The affidavit of title is typically prepared by a title company or a real estate attorney after thorough research and examination of public records. It is often required during real estate transactions, such as buying or selling a property, refinancing, or obtaining a mortgage. The document provides assurance to the buyer that the seller has the legal right to convey the property and protects against any potential disputes or claims arising from the title in the future.
Overall, an affidavit of title is a crucial legal instrument that provides an official representation of a property's ownership and can be relied upon for legal purposes and to prove clear title.
