The Maryland Refinance Affidavit is a document used in residential real estate transactions to make sure that all parties involved are aware of the terms of the refinancing loan. The document is used to inform the lender of the current loan amount, current interest rate, and other important information. It also serves as a form of acknowledgement that all parties involved in the transaction are aware of the terms of the loan and agree to them. There are two types of Maryland Refinance Affidavits: a refinancing affidavit for a purchase money mortgage and a refinancing affidavit for a non-purchase money mortgage. The purchase money mortgage refinance affidavit requires the name of the parties involved in the transaction, the loan amount, the interest rate, the loan terms, and the name of the title company. The non-purchase money mortgage refinance affidavit requires the name of the parties involved in the transaction, the loan amount, the interest rate, the loan term, and the name of the lender. Both types of affidavits must be signed and dated by the parties involved in the transaction.
Maryland Refinance Affidavit
Description
Definition and meaning
The Maryland Refinance Affidavit is a legal document required when refinancing a mortgage in the state of Maryland. It serves to affirm specific details regarding the mortgage and the property involved. This form ensures compliance with Section 12-108(g)(3) of the Tax-Property Article of the Annotated Code of Maryland, facilitating a smoother transaction process.
How to complete a form
To complete the Maryland Refinance Affidavit, follow these steps:
- Identify yourself as the original mortgagor of the mortgage/deed of trust.
- Specify the details of the mortgage, including the Liber and Folio where it is recorded.
- Confirm that the mortgaged property is your principal residence.
- Provide the amount of unpaid principal on the original mortgage that is being refinanced.
- Sign and date the affidavit at the bottom.
Ensure that all information is accurate and complete prior to submission.
Who should use this form
The Maryland Refinance Affidavit should be used by individuals or parties who are refinancing a mortgage on their primary residence in Maryland. This includes homeowners looking to modify their current mortgage terms to seek better rates or adjust payment structures.
Key components of the form
The essential components of the Maryland Refinance Affidavit include:
- The full names of the mortgagors
- The legal description of the property
- The original mortgage details, including Liber and Folio references
- The amount of unpaid principal
- Signature lines for the mortgagors and notary public
Accurate completion of these components is crucial for the affidavit’s validity.
What to expect during notarization or witnessing
When finalizing the Maryland Refinance Affidavit, you will need to have the document notarized. During this process, you will:
- Present a valid form of identification to verify your identity.
- Sign the affidavit in the presence of a notary public.
- Receive the notary’s signature and seal, which confirms the authenticity of your signature.
This step is vital as it provides a legal acknowledgment of the affidavit, making it enforceable.
Common mistakes to avoid when using this form
While completing the Maryland Refinance Affidavit, be cautious of the following mistakes:
- Failing to provide accurate mortgage details, such as Liber and Folio references.
- Not confirming that the property is your principal residence.
- Overlooking the requirement for notarization.
- Leaving signature lines blank or not signing in front of a notary.
Avoiding these errors will help ensure that your document is valid and accepted by the necessary parties.
How to fill out Maryland Refinance Affidavit?
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FAQ
How to Fill Out General Affidavit PDFRun - YouTube YouTube Start of suggested clip End of suggested clip Online. Button this will redirect you to pdf runs online editor first enter your state and countyMoreOnline. Button this will redirect you to pdf runs online editor first enter your state and county under statement of the affiliate. Provide the following information your state date of signing.
The Finance Affidavit is used in Prince George's County to claim exemptions from County Transfer and/or State Recordation taxes. All instruments of writing are. taxable for both County Transfer.
How to Fill Out an Affidavit The name and address of the person making the statement (affiant) The name of the court where the affidavit will be filed. The case number, if known. A brief description of the case. The facts or evidence being sworn to or affirmed. The date of the affidavit. The signature of the affiant.
6 steps to writing an affidavit Title the affidavit. First, you'll need to title your affidavit.Craft a statement of identity. The very next section of your affidavit is what's known as a statement of identity.Write a statement of truth.State the facts.Reiterate your statement of truth.Sign and notarize.
I Mr/Ms S/o Daughter of , aged around years, resident of , do hereby solemnly affirm and declare as under: That my name as per the records in my educational institution is (XYZ)
The affidavit must be signed by you, and swear (or affirm) under the penalties of perjury that what you are saying is true. For example: ?I solemnly affirm under the penalties of perjury and upon personal knowledge that the contents of the foregoing paper are true.?
Yes, in addition to being correctly signed and witnessed, an affidavit must be notarized in order to be legally binding.
