The seller identifies ownership and must swear under oath about the truthfulness of certain information about the property being sold.
An Affidavit of Title is needed in a court of law when a person sells a piece of property, a house, or land. The Affidavit of Title is used mainly in real estate transactions. The Affidavit of Title is also a requirement of many states in the United States and must be composed by the seller.
The Affidavit of Title form can be defined as a statement by the seller, under an oath, that the property being sold to the buyer is free of defects or debt as of the date of issue of the deed passed to seller at the closing.
There are benefits of having an Affidavit of Title for the buyer:
• It protects the buyer from any claim of ownership by another party.
• It shows property free from any legal disputes and claims.
• It is documentary evidence against the seller if there is a lien or claim about the ownership of the property.
• It is basically a guarantee on the property
The main purpose of Affidavit of Title is to be a legal document clearing any legal problems related to the property by the seller before the actual transaction takes place.