This Owner/Seller Affidavit is for seller(s) to sign at the time of closing certifying that, among other assurances, there are no liens on the property being sold, that they are the owners of the property, that there are no mechanic liens on the property and other certifications. This form must be signed and notarized.
Keywords: Tacoma Washington, Owner's Affidavit of No Liens, Seller's Affidavit of No Liens, types A Tacoma Washington Owner's or Seller's Affidavit of No Liens is a legal document used in real estate transactions to provide assurance to the buyer that the property being sold is free from any encumbrances or liens. This affidavit is a crucial part of the closing process, as it helps establish clear title ownership. In Tacoma, Washington, there are primarily two types of Owner's or Seller's Affidavit of No Liens: 1. General Owner's or Seller's Affidavit of No Liens: This type of affidavit is used when the seller declares that there are no outstanding liens or encumbrances on the property. It covers a comprehensive range of possible liens, such as mortgages, tax liens, mechanic's liens, judgments, and any other claims that could affect the title's clear ownership. 2. Limited Owner's or Seller's Affidavit of No Liens: This type of affidavit is specific to a certain type of lien, usually the one that poses a potential risk to the buyer. The most common limited affidavit is the Mortgage Lien Affidavit, where the seller attests that there is no existing mortgage lien on the property. This limited affidavit is often requested when the buyer is relying on the seller's representations and might not require a more comprehensive search. Both types of affidavits require the seller to provide information about any potential liens or encumbrances known to them, and any pending lawsuits or claims that could affect the property's title. The seller must sign the affidavit under oath, indicating that the information provided is accurate and complete to the best of their knowledge. The Owner's or Seller's Affidavit of No Liens is usually prepared by the seller's attorney, title company, or escrow agent involved in the transaction. The document is then presented to the buyer as part of the closing package, allowing them to rely on the seller's assertions about the property's clear title. It is important to note that while the affidavit provides a statement from the seller regarding the absence of liens and encumbrances, it does not guarantee the accuracy of the seller's claims. Buyers are encouraged to conduct their due diligence by obtaining a title insurance policy and conducting a thorough title search to minimize any potential risks associated with latent liens or claims. In conclusion, the Tacoma Washington Owner's or Seller's Affidavit of No Liens is a legal document that plays a vital role in real estate transactions. It assures the buyer that the property being sold is free from any known encumbrances or liens. By utilizing either the general or limited version of the affidavit, sellers can present a clear title and instill trust in the buyer, facilitating a smooth and secure sale process.Keywords: Tacoma Washington, Owner's Affidavit of No Liens, Seller's Affidavit of No Liens, types A Tacoma Washington Owner's or Seller's Affidavit of No Liens is a legal document used in real estate transactions to provide assurance to the buyer that the property being sold is free from any encumbrances or liens. This affidavit is a crucial part of the closing process, as it helps establish clear title ownership. In Tacoma, Washington, there are primarily two types of Owner's or Seller's Affidavit of No Liens: 1. General Owner's or Seller's Affidavit of No Liens: This type of affidavit is used when the seller declares that there are no outstanding liens or encumbrances on the property. It covers a comprehensive range of possible liens, such as mortgages, tax liens, mechanic's liens, judgments, and any other claims that could affect the title's clear ownership. 2. Limited Owner's or Seller's Affidavit of No Liens: This type of affidavit is specific to a certain type of lien, usually the one that poses a potential risk to the buyer. The most common limited affidavit is the Mortgage Lien Affidavit, where the seller attests that there is no existing mortgage lien on the property. This limited affidavit is often requested when the buyer is relying on the seller's representations and might not require a more comprehensive search. Both types of affidavits require the seller to provide information about any potential liens or encumbrances known to them, and any pending lawsuits or claims that could affect the property's title. The seller must sign the affidavit under oath, indicating that the information provided is accurate and complete to the best of their knowledge. The Owner's or Seller's Affidavit of No Liens is usually prepared by the seller's attorney, title company, or escrow agent involved in the transaction. The document is then presented to the buyer as part of the closing package, allowing them to rely on the seller's assertions about the property's clear title. It is important to note that while the affidavit provides a statement from the seller regarding the absence of liens and encumbrances, it does not guarantee the accuracy of the seller's claims. Buyers are encouraged to conduct their due diligence by obtaining a title insurance policy and conducting a thorough title search to minimize any potential risks associated with latent liens or claims. In conclusion, the Tacoma Washington Owner's or Seller's Affidavit of No Liens is a legal document that plays a vital role in real estate transactions. It assures the buyer that the property being sold is free from any known encumbrances or liens. By utilizing either the general or limited version of the affidavit, sellers can present a clear title and instill trust in the buyer, facilitating a smooth and secure sale process.
