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Affidavit of title important in real estate transactions

On Behalf of | Mar 26, 2020 | Real Estate |

Buying a house or another type of property is a major purchase. As a result, Ohio homebuyers want to ensure that everything is correct with the real estate they intend to buy. In some cases, legal issues could arise with the property, which is why it is important that an affidavit of title is provided by the seller.

This document essentially states that the seller owns the property and holds the title. It also ensures that there are no issues with the property like liens or unpaid taxes and attests that the seller is not going through bankruptcy proceedings. The document must be notarized and acts as a sworn statement that the information provided is correct. In the event that an issue does arise later that the seller should have disclosed, the affidavit of title can be an important piece of evidence in any resulting legal proceedings.

This document is immensely important to the buyer because it offers protection. As mentioned, if a problem with the property comes about later, the affidavit of title could protect the buyer from legal problems in the future. Of course, it is important that the document is created properly and is considered valid under state law.

Many documents go into a real estate transaction. An affidavit of title is just one important record, so it is prudent for Ohio homebuyers to go over this and other documents with their legal counsel. Fully understanding their protections could help buyers better know how to handle an issue should one arise after the property sale closes.

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