The statement that protects the buyer in a property deal
The alta statement is a statement that is to be signed by the seller buyer or lender in order to declare all that they know about the title or ownership of the property. This statement is helpful in getting the facts about the title of the property before the deal is closed. So in case you are buying a property you will become aware of the problems that are associated with the property and its title.
In the alta statement you may need to declare the following
Similar other information of any kind pertaining t the property in question must be mentioned in this statement. This statement must be signed by both the buyer as well as the seller and both the signs must be notarized.
It is the duty of the seller to state the truth and not hide anything about the ownership as well as any outstanding on the property to the buyer. The buyer must read all the statements carefully and then only sign the statement.
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