Deed Of Undertaking Sample

• Category: Affidavits
• State: Multi-State
• Control #: US-S008ST
• Format: Word; Rich Text

Description

This form is used by a corporation or LLC furnishing professional services, materials, or equipment for the improvement of real property and is sent to the owner or reputed owner notifying him of the potential for a lien claim. Owner's Affidavit and Gap Undertaking is a document used in real estate transactions and other business transactions to ensure that a party is the rightful owner of a property they are selling or transferring. This document is signed by the owner, and by doing so, they are affirming that they are the rightful owner and have the right to transfer the property or title. Additionally, they are stating that there are no outstanding liens, debts, or other encumbrances on the property. The two main types of Owner's Affidavit and Gap Undertaking are the Title Gap Affidavit and the Statutory Affidavit. The Title Gap Affidavit is generally used when there is a gap in the chain of title, meaning that there is a period of time when ownership is unclear. This type of affidavit is used to eliminate any doubt as to the current owner's right to sell or transfer the property. The Statutory Affidavit is used when there is a legal requirement that a specific affidavit must be signed in order to transfer a piece of property or title. This type of affidavit is often used in foreclosure proceedings.

Owner's Affidavit and Gap Undertaking is a document used in real estate transactions and other business transactions to ensure that a party is the rightful owner of a property they are selling or transferring. This document is signed by the owner, and by doing so, they are affirming that they are the rightful owner and have the right to transfer the property or title. Additionally, they are stating that there are no outstanding liens, debts, or other encumbrances on the property. The two main types of Owner's Affidavit and Gap Undertaking are the Title Gap Affidavit and the Statutory Affidavit. The Title Gap Affidavit is generally used when there is a gap in the chain of title, meaning that there is a period of time when ownership is unclear. This type of affidavit is used to eliminate any doubt as to the current owner's right to sell or transfer the property. The Statutory Affidavit is used when there is a legal requirement that a specific affidavit must be signed in order to transfer a piece of property or title. This type of affidavit is often used in foreclosure proceedings.