Seller Affidavit Real Estate Form

State:
Ohio
Control #:
OH-CLOSE8
Format:
Word; 
Rich Text
Instant download

Description

The Seller affidavit real estate form is a legal document used by property sellers to affirm their ownership and the condition of the real estate being sold. This form requires sellers to confirm their age, marital status, and the absence of liens or debts related to the property. Key features include statements on the lack of pending government actions, structural defects, and any legal claims that may affect the sale. Each section must be completed accurately to ensure the affidavit's validity, with specific notations included in case of exceptions. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it serves as a protective measure against potential legal challenges and provides assurance to buyers and lenders about the seller's claims. The document can facilitate smoother transactions by establishing transparency regarding the property’s legal status and any possible encumbrances. Users should be diligent in filling out all applicable sections and ensuring all claims made in the affidavit are truthful, as they are under penalty of perjury. Additionally, this form is critical in real estate closings, helping to expedite the process and ensuring compliance with local regulations.
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How to fill out Ohio Owner's Or Seller's Affidavit Of No Liens?

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FAQ

In order to avoid issues with FIRPTA, the seller will sign an Affidavit and certify status. Otherwise, various pesky IRS forms, such as Form 8288 may be required.

(6) Qualified substitute The term qualified substitute means, with respect to a disposition of a United States real property interest (A) the person (including any attorney or title company) responsible for closing the transaction, other than the transferor's agent, and (B) the transferee's agent.

A qualified substitute may be (i) an attorney, title company, or escrow company (but not the Seller's agent) responsible for closing the transaction, or (ii) the Buyer's agent. 2.

BOSTON Merger and acquisition agreements almost universally require the target or seller to deliver at closing a so-called FIRPTA certificate i.e., an affidavit that either the target is not a United States real property holding corporation or that the seller is not a foreign person, in each case in accordance

FIRPTA, which was established in 1980 stands for Foreign Investment Real Property Tax Act. This is essentially a prepayment of anticipated tax due on the gain of the sale of a U.S. real property interest. A refund may be issued when taxes are filed, if an overpayment is made.

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Seller Affidavit Real Estate Form