Which best describes an Affidavit of Title?

Which best describes an Affidavit of Title?

• A. A sworn written statement by the seller or grantor, acknowledged before a Notary Public, certifying ownership status and absence of known title defects and possession of the property.
• B. A deed transferring ownership.
• C. A loan agreement.
• D. A tax certificate.

Answer: (A)

An Affidavit of Title is a sworn, written statement by the seller (grantor) about the property's title, usually acknowledged before a Notary Public at closing. It provides a formal assurance that the seller owns the property, possesses it, and knows of no title defects or undisclosed encumbrances beyond what has been disclosed, with any statements made under oath and subject to penalties for perjury. This document helps the buyer and lender by filling gaps that a title search might not fully reveal, supporting the issuance of title insurance and helping to certify that the marketable title condition is being met. The other choices don’t fit because a deed is the instrument that actually transfers ownership, a loan agreement governs financing terms, and a tax certificate reflects tax status or tax liens rather than the seller’s sworn statements about title.

An Affidavit of Title is a sworn, written statement by the seller (grantor) about the property's title, usually acknowledged before a Notary Public at closing. It provides a formal assurance that the seller owns the property, possesses it, and knows of no title defects or undisclosed encumbrances beyond what has been disclosed, with any statements made under oath and subject to penalties for perjury. This document helps the buyer and lender by filling gaps that a title search might not fully reveal, supporting the issuance of title insurance and helping to certify that the marketable title condition is being met.

The other choices don’t fit because a deed is the instrument that actually transfers ownership, a loan agreement governs financing terms, and a tax certificate reflects tax status or tax liens rather than the seller’s sworn statements about title.