New York Title and Survey Affidavit
Definition and meaning
The New York Title and Survey Affidavit is a legal document used to affirm ownership and condition of a property during a real estate transaction. This affidavit provides evidence regarding the ownership status, any encumbrances or third-party claims, and the current state of the property based on a professional survey. It ensures that all necessary disclosures are made before the property title is transferred.
How to complete the form
To complete the New York Title and Survey Affidavit, follow these steps:
- Enter the name of the owner and the limited liability company if applicable.
- Provide the property address and details from the Property Acquisition Agreement.
- Affirm personal knowledge of the property and any legal documentation.
- Disclose any liens or encumbrances affecting the property.
- Confirm there are no unresolved violations of governmental requirements.
Make sure to date and sign the affidavit in the presence of a notary public.
Who should use this form
The New York Title and Survey Affidavit is typically used by property owners, real estate agents, and attorneys involved in property transactions. It is necessary for individuals or entities transferring property rights to ensure that all claims, liens, and legal obligations are accurately represented before the transaction is finalized.
Key components of the form
This affidavit includes key components that affirm property ownership and condition:
- Owner's Identity: Name and identification of the property owner.
- Property Description: Details of the property as per the survey.
- Disclosure of Ownership Rights: Statement of rights and lack of third-party claims.
- Compliance with Laws: Declaration that the property meets local regulations.
- Notarization: Signature validation by a notary public, confirming the authenticity of the affidavit.
What to expect during notarization or witnessing
During the notarization of the New York Title and Survey Affidavit, the following steps typically occur:
- Present the completed affidavit to the notary.
- Confirm your identity with valid identification.
- Sign the document in the presence of the notary.
- The notary will then affix their seal and sign, certifying the affidavit.
This process ensures that the affidavit is legally binding and can be properly recorded.
Benefits of using this form online
Utilizing the New York Title and Survey Affidavit online offers several advantages:
- Accessibility: Easily download the form from anywhere, at any time.
- Guidance: Online resources often provide step-by-step instructions for completion.
- Efficiency: Saves time by allowing quick filling and submission of vital information.
- File Management: Digital copies can be easily stored and organized for future reference.
Form popularity
FAQ
A Title Survey is a survey map prepared by a licensed land surveyor registered in the state of New York, which depicts the mathematical and physical features of a parcel of land with relation to map lines, deeds of record, and /or other pertinent reference data base upon an actual field survey. (
You are Refinancing or Obtaining a Mortgage A lender normally requires a current survey before they will approve the loan. Why is this necessary? The lender may require the survey in order to protect their investment.
Is a Land Survey Required? An up-to-date land survey is usually required by mortgage lenders to confirm the boundaries and contents of the land they're financing and to ensure it's worth the funds they're lending you. In general, your lender will expect you to pay for the surveyor's fee as part of your closing costs.
Who pays for a land survey buyer or seller? The home buyer pays for a land survey, if they request one. Considered due diligence (much like a home inspection), a land survey lets the buyer know the details of the exact property they're purchasing, including property boundaries, fencing, easements and encroachments.
Title insurance is an insurance policy that protects you, the home owner, against challenges to the ownership of your home or from problems related to the title to your home. The policy provides coverage against losses due to title defects, even if the defects existed before you purchased your home.
Land surveys can cost anywhere between $100 and $900, but most average around $500. The cost of a land survey depends on a series of factors such as property size, terrain and geographic location.
An Owner Affidavit is a document used by title and closing agencies to ensure that the current owner of a property is in ownership of the property free and clear of any encumbrances.The Owner Affidavit places the seller on the hook for any claims that may arise that are not covered by the title insurance policy.
Generally the purchaser pays for a survey, however, this is dependent upon the contract for purchase and sale that you enter into with the buyer...
Most mortgage companies require a property survey to make sure the property is worth the amount of money they're providing in the loan. However, the property survey is not always legally required.After surveying, they will provide a type of map detailing the property's legal boundaries.