New York Seller's Home Equity Theft Prevention Act Closing Affidavit is a type of sale contract used when selling a property in New York State. The affidavit is used to protect the seller from any potential home equity theft or fraud. It requires the seller to provide a written statement to the buyer that includes information about the seller's mortgage debt, property taxes, and any other liens on the property. The affidavit must also include a statement that the seller is not aware of any home equity theft or fraud against the property. There are two types of New York Seller's Home Equity Theft Prevention Act Closing Affidavit: one for cooperative apartments and one for non-cooperative apartments.
Home Equity Theft Prevention Act
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The Home Equity Theft Prevention Act protects the sellers who are selling their home in the default or foreclosure proceedings. This affidavit was designed to protect the homeowner from scams designed to take their home.
New York Seller's Home Equity Theft Prevention Act Closing Affidavit is a type of sale contract used when selling a property in New York State. The affidavit is used to protect the seller from any potential home equity theft or fraud. It requires the seller to provide a written statement to the buyer that includes information about the seller's mortgage debt, property taxes, and any other liens on the property. The affidavit must also include a statement that the seller is not aware of any home equity theft or fraud against the property. There are two types of New York Seller's Home Equity Theft Prevention Act Closing Affidavit: one for cooperative apartments and one for non-cooperative apartments.
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