any contract, option or right of sale not included in the transaction for which this affidavit is made. From time to time, an owner of a property may enter into an agreement that grants a third party a right to the property, but that agreement is not recorded in the public record. This affidavit is made to induce the title and closing agent and its subscriber to disburse all funds held as a settlement agent and/or to issue a title insurance policy or other proof of title. Affant hereby indemnifies the title and the closing agent and its subscriber from any loss or expense, including attorneys` fees, arising out of the inaccuracy and accuracy of any of the foregoing matters. By signing an affidavit from the owner, the owner assumes full responsibility for certain charges on the property that are not covered by title insurance. An owner`s affidavit is a document used by title and fence agencies to ensure that the current owner of a property is free and free from charges in possession of the property. Title insurance combined with an affidavit of the owner provides security when buying real estate. The owner`s affidavit is an extra layer of protection for the buyer of the property. Contact Walnut Ridge Title for more questions.
The owner`s affidavit uses the seller for all claims that may arise that are not covered by title insurance. The Affiant(s), John and Jane Smith, married, first duly sworn, file and make the following statements regarding the property at 123 State Route 456, Anytown, Ohio 98765. See Exhibit ”A” for a full legal description: It is Walnut Ridge Title`s policy to require all sellers to sign an affidavit of the owner to ensure that the buyer has the greatest possible protection against potential claims. Absolutely, but a title search can only show charges such as judgments, tax privileges, mortgages, rights of way, and easements that are known to the public. .
