Any person who is the owner of a one-family or two-family residential dwelling unit not included within the scope of § 43-13.2 shall, at the time of settlement on the sale of such property, provide the purchaser, or lender in the case of a permanent loan or refinance, with an affidavit stating either (i) that all persons performing labor or furnishing materials in connection with any improvements on such property within 120 days prior to the date of settlement and with whom such owner is in privity of contract have been paid in full, or (ii) the name, address and amount payable or claimed to be payable to any person so performing labor or furnishing materials and with whom such owner is in privity of contract.
The Fairfax Virginia Affidavit of Payment Prior to Sale or Refinance is a legal document that specifically applies to corporations or limited liability companies (LCS) in Fairfax, Virginia. This affidavit serves as a declaration by the corporation or LLC that all outstanding debts, liens, and obligations related to the property have been paid before any sale or refinancing transaction takes place. By providing this affidavit, the corporation or LLC ensures that the buyer or lender receives a clear title and the property is free from encumbrances. The affidavit must be completed accurately and signed by an authorized representative of the corporation or LLC, typically someone with the authority to initiate and manage financial transactions. It is essential to include all relevant information related to the property, including its address, legal description, and tax map number. This document serves as proof of financial responsibility, ensuring that any pending or outstanding liabilities are cleared prior to transferring ownership or initiating refinancing. It protects both the buyer and the lender against potential financial encumbrances that may affect the property or its value. Types of Fairfax Virginia Affidavit of Payment Prior to Sale or Refinance — Corporation or LLC: 1. Fairfax Virginia Affidavit of Payment Prior to Sale or Refinance — Corporation: This type of affidavit specifically applies to corporations that are looking to sell or refinance property in Fairfax, Virginia. It emphasizes the corporation's responsibility to clear all financial obligations related to the property before proceeding with the transaction. 2. Fairfax Virginia Affidavit of Payment Prior to Sale or Refinance — LLC: This affidavit is meant to be used by limited liability companies (LCS) operating in Fairfax, Virginia. It highlights the LLC's obligation to settle any outstanding debts, liens, or obligations associated with the property before engaging in a sale or refinancing. Ensuring the completion and submission of the Fairfax Virginia Affidavit of Payment Prior to Sale or Refinance — Corporation or LLC is crucial for all corporations and LCS involved in property transactions in Fairfax, Virginia. It provides reassurance to the buyer or lender regarding the property's financial status and safeguards against potential future complications or disputes. 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The affidavit must be completed accurately and signed by an authorized representative of the corporation or LLC, typically someone with the authority to initiate and manage financial transactions. It is essential to include all relevant information related to the property, including its address, legal description, and tax map number. This document serves as proof of financial responsibility, ensuring that any pending or outstanding liabilities are cleared prior to transferring ownership or initiating refinancing. It protects both the buyer and the lender against potential financial encumbrances that may affect the property or its value. Types of Fairfax Virginia Affidavit of Payment Prior to Sale or Refinance — Corporation or LLC: 1. Fairfax Virginia Affidavit of Payment Prior to Sale or Refinance — Corporation: This type of affidavit specifically applies to corporations that are looking to sell or refinance property in Fairfax, Virginia. It emphasizes the corporation's responsibility to clear all financial obligations related to the property before proceeding with the transaction. 2. Fairfax Virginia Affidavit of Payment Prior to Sale or Refinance — LLC: This affidavit is meant to be used by limited liability companies (LCS) operating in Fairfax, Virginia. It highlights the LLC's obligation to settle any outstanding debts, liens, or obligations associated with the property before engaging in a sale or refinancing. Ensuring the completion and submission of the Fairfax Virginia Affidavit of Payment Prior to Sale or Refinance — Corporation or LLC is crucial for all corporations and LCS involved in property transactions in Fairfax, Virginia. It provides reassurance to the buyer or lender regarding the property's financial status and safeguards against potential future complications or disputes. 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