New York Non-Imputation Affidavit

Category:

Affidavits

State:

New York

Control #:

NY-S030ST

Format:

Instant download

What this document covers

The Non-Imputation Affidavit is a legal document used to clarify unrecorded title matters that might be undiscoverable by title insurance companies. This form ensures that the insurer does not deny liability simply based on the member's knowledge of the owning entities involved. By providing this affidavit, the member can protect their interests and facilitate the issuance of a title insurance policy without adverse imputation of knowledge.

Key components of this form

Identification of the Deponent and Owning Entities.
Details about the Properties owned by each Owning Entity.
Confirmation regarding unrecorded deeds and other agreements impacting title.
Assurances about third-party claims and judgments affecting the Properties.
Declaration of financial solvency of the Owning Entities.
Indemnification clause for any misrepresentation made in the affidavit.

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Situations where this form applies

This form is typically used when an individual or entity is seeking to obtain title insurance for properties that may have unrecorded interests. It is especially pertinent when a member of a limited liability company (LLC) must demonstrate that nothing adversely affects the title or when there is a need to ensure that existing knowledge does not burden the title insurance policy.

Who needs this form

Members of LLCs owning real estate properties.
Individuals or entities applying for title insurance in relation to these properties.
Real estate professionals involved in property transactions requiring title insurance.
Anyone needing to clarify title matters with a title insurance company.

How to complete this form

Identify the Deponent and Owning Entities, including their names and roles.
List the Properties owned by the Owning Entities as described in Schedule A.
Fill in the relevant title insurance company details and title number.
Confirm whether any unrecorded agreements or claims affect the title.
Provide signatures and have the affidavit notarized before submission.

Notarization requirements for this form

Yes, this form must be notarized to be legally valid. Notarization is essential to verify the authenticity of the signatures and the accuracy of the information provided in the affidavit. US Legal Forms offers integrated online notarization, allowing for secure video calls with licensed notaries available 24/7, ensuring convenience and compliance with legal requirements.

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