Affidavit of Title
A sworn written statement by the property seller affirming their legal ownership and declaring any known defects, liens, or encumbrances affecting the title. This document is typically required at closing to provide the buyer and title company with the seller's representation about the property's title status. The affidavit serves as a form of title insurance and legal protection for the buyer.
Example
“Before closing, the seller signed an affidavit of title swearing under oath that she held clear ownership and that no undisclosed liens existed against the property.”
Memory Tip
An affidavit of title is like swearing "I HAVE FAITH that I truly own this TITLE" - it's a faith-based pledge about ownership.
Why It Matters
This document protects buyers by requiring sellers to disclose known title issues under oath, potentially making sellers liable for misrepresentations. It provides an additional layer of security beyond title searches and helps ensure clear title transfer.
Common Misconception
Some sellers think the affidavit is just a formality, but it creates legal liability if they fail to disclose known title problems or make false statements.
In Practice
At closing, the seller signs an affidavit stating they own the property free and clear except for the existing mortgage being paid off, and affirming no recent improvements that might create mechanic's liens. If undisclosed liens later surface, the buyer may have legal recourse against the seller based on this sworn statement.
Etymology
Combining "affidavit" from Latin "affidare" meaning "to pledge faith" and "title" from Latin "titulus" meaning "inscription," this sworn document pledges the seller's faith in their legal ownership claim.
Common Misspellings
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