An affidavit of title is a notarized, legal document provided by the seller of a piece of property attesting to the status of and certain facts about the property, including ownership and the presence of any legal issues. This document for mortgage of property is given to secure a loan.
In a real estate transaction, it plays a crucial role by providing proof of ownership, securing the buyer's investment, and helping to keep the wheels turning smoothly in the deal.
Yes, the Affidavit of Title is usually recorded with the county recorder to officially document ownership and make it part of the public record.
While anyone can technically prepare one, it's wise to have a professional, like a lawyer or a title company, handle it to ensure everything's tickety-boo and legally sound.
If there are issues with the title, the LLC might need to resolve any discrepancies before the property can be legally transferred, like untangling a knot in a shoelace.
An Affidavit of Title is typically executed when an authorized individual signs it on behalf of the LLC, usually after a thorough title search.
An Affidavit of Title is a legal document that declares a person's ownership of a property, often used by LLCs to confirm clear title before selling or transferring property.