Wake North Carolina Owner's - Seller's - Affidavit

• Category: Real Estate - Mortgages and Deeds of Trust
• State: Multi-State
• County: Wake
• Control #: US-37013-C
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. Wake North Carolina Owner's — Seller's Affidavit is a legal document that serves as a statement of facts made by the owner of a property located in Wake County, North Carolina, who is also the seller of the property. This affidavit helps establish the seller's ownership and provides assurance to the buyer regarding the property's title and any encumbrances. The Wake North Carolina Owner's — Seller's Affidavit includes various types based on the purpose they serve. Some common types are: 1. Title Affidavit: This type of affidavit is used to affirm that the seller is the lawful owner of the property and has the legal right to sell it. It includes information such as the property's legal description, the seller's name, and any liens or encumbrances on the property. 2. Encumbrance Affidavit: This affidavit is used to disclose any existing encumbrances on the property, such as mortgages, easements, or other legal claims. It assures the buyer that the property is free from any undisclosed interests that may affect its marketability. 3. Non-Foreign Affidavit: This affidavit is required when the seller is not a U.S. citizen or resident alien. It certifies that the seller is not a "foreign person" as defined by the Internal Revenue Service (IRS) and exempts the buyer from withholding tax during the transaction. 4. Identity Affidavit: This affidavit is used to confirm the seller's identity. It may require the seller to provide proof of identification, such as a driver's license or passport, to prevent identity theft or fraudulent transactions. 5. Affidavit of Property Condition: Although not specific to Wake North Carolina, this affidavit may be included in some cases to disclose the property's condition. It outlines any known defects or issues that may affect the property's value or desirability. It is essential to consult with a real estate attorney or title company to determine the specific type of affidavit required for a particular transaction in Wake County, North Carolina. Each transaction may have unique considerations, and the appropriate affidavit should be prepared and executed accordingly.

Wake North Carolina Owner's — Seller's Affidavit is a legal document that serves as a statement of facts made by the owner of a property located in Wake County, North Carolina, who is also the seller of the property. This affidavit helps establish the seller's ownership and provides assurance to the buyer regarding the property's title and any encumbrances. The Wake North Carolina Owner's — Seller's Affidavit includes various types based on the purpose they serve. Some common types are: 1. Title Affidavit: This type of affidavit is used to affirm that the seller is the lawful owner of the property and has the legal right to sell it. It includes information such as the property's legal description, the seller's name, and any liens or encumbrances on the property. 2. Encumbrance Affidavit: This affidavit is used to disclose any existing encumbrances on the property, such as mortgages, easements, or other legal claims. It assures the buyer that the property is free from any undisclosed interests that may affect its marketability. 3. Non-Foreign Affidavit: This affidavit is required when the seller is not a U.S. citizen or resident alien. It certifies that the seller is not a "foreign person" as defined by the Internal Revenue Service (IRS) and exempts the buyer from withholding tax during the transaction. 4. Identity Affidavit: This affidavit is used to confirm the seller's identity. It may require the seller to provide proof of identification, such as a driver's license or passport, to prevent identity theft or fraudulent transactions. 5. Affidavit of Property Condition: Although not specific to Wake North Carolina, this affidavit may be included in some cases to disclose the property's condition. It outlines any known defects or issues that may affect the property's value or desirability. It is essential to consult with a real estate attorney or title company to determine the specific type of affidavit required for a particular transaction in Wake County, North Carolina. Each transaction may have unique considerations, and the appropriate affidavit should be prepared and executed accordingly.