AFFIDAVIT OF OWnership- Assorted Legal Forms,
What is the need of affidavit of ownership
An affidavit of ownership is a legal document that declares how a person purchased or inherited a piece of property or a vehicle. They are used to identify the heir of deceased person. The document is used to state the ownership of real property. It is considered as an official record. Vehicle, land and home are included in personal property and it can be transferred to another person by using an affidavit of ownership. To become effect, the document has to be signed by a notory public and two witnesses who knows the family but doesn’t stand to gain financially. You should be aware that the legal document cannot be taken into effect, if there is any debt secured by real estate. The witness used for signing the legal document must specifically know the decedent, the decedent’s date of death, name of family members and whether there are any sort of outstanding debts to be paid.
The need of affidavit of ownership
There are some times, you will need to explain what is yours. The affidavit is used to prove that you own something. You will be required to make this document with the help of an experienced lawyer when you need to prove the proof of your ownership of property and you need to provide the proof of ownership of vehicle. This legal document is often used when deed isn’t enough. If you lend money from financial institution, banks and lenders, they would ask you to provide an affidavit of ownership.
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