Affidavits

Question 1

Affidavit of Buyer / Purchaser / Owner

Answer 1

Form: This “Standard Buyer’s Affidavit” states that our buyer has not put any new liens on the property from the time they entered purchase agreement to closing. No new State or Federal Tax Liens, Judgments, Pending Court Litigation or Judicial Proceedings including divorce.

Function: When signed, this document will allow us to remove the standard exceptions from our Final Title Policy.

Question 2

Affidavit of Seller

Answer 2

Form: This “Standard Sellers Affidavit” states that our Seller has not put any new liens on the property from the time they entered purchase agreement to closing. No new State or Federal Tax Liens, Judgments, Pending Court Litigation or Judicial Proceedings including divorce.

Function: When signed, this document will allow us to remove the standard exceptions from our Final Title Policy.

Question 3

Affidavit of Occupancy

Answer 3

Form: This Affidavit is an attestation from the Buyer as to the type of occupancy being used.
Types of Residency are - Primary Residence, Second Home, Vacation Home, Investment, Commercial Use etc.

Function: In most instances, we’ll be seeing “Primary Home” the lender wants to know this, as a 30 year low rate fixed mortgage is typically only reserved for Home Ownership.

Question 4

Affidavit of Identity

Answer 4

Form: This affidavit attests that our Borrower “is” who they say they are. Typically when one’s credit is pulled, different alias show up. i.e. with Middle Initial, without, Jennifer vs. Jen etc.

Function: Insuring we are dealing with the borrower, and no fraud is taking place- this is also one of the reasons we require a driver’s license at closing.

Question 5

Affidavit of Attorney-in-Fact

Answer 5

Form: Shows that the Filed Power of Attorney is not terminated and or revoked.

Function: This affidavit needs to be filed any time a signatory signs by way of a Power of Attorney. A POA can be filed one time- but an Affidavit of AIF needs to be filed any time the attorney in fact signs a document that will be filed of record.

Question 6

Affidavit of Trustee

Answer 6

Form: Shows that the Authority of the Trustee as not been terminated and or revoked.

Function: This affidavit needs to be filed anytime a Trustee signs on be half of a Trust. Often this will be filed with a Certificate of Trust. However, like an affidavit of attorney in fact, a Certificate can be filed once, and an affidavit of Trust can be filed referencing the Cert.

Question 7

Affidavit of Identity and Survivorship

Answer 7

Form: An affidavit that extinguishes the interest of a deceased joint tenant. Must be filed with an original death certificate.

Function: When fee owners (people in title) are vested as “joint tenants” and one passes away, this affidavit will reference the original document in which the joint tenancy or life tenancy was created- and extinguish that interest, avoiding probate, and or rights of succession.

Question 8

Borrower Attestation of Continued Employement

Answer 8

Borrower will attest that no changes have been made in regards to their current employment and/or no new lines of credit have been opened.