DISCLOSURE-TRANSFER TO THIRD PARTY-Lease Options,
The affidavit to prove the transfer of property to third party
When you need to sell your property you will do that to another party and then you will become the third party and the buyer will be the second party. Many a tie you know that the current buyer is buying the property to sell it to the third party. This is a very complex thing and to make it simpler there is something known as disclosure transfer to third party.
This is an affidavit in which the seller recognizes that his or her property is being bought by the second party in order to give it to the third party. The third party may either be chosen before the transaction was made or after the transaction made.
Getting this affidavit saves the buyer as well as the seller from all the disputes that might arise in future. This affidavit informs the seller of the future of the property as well as transfers all the loan and credit associated with the seller over to the buyer. This affidavit also releases the seller of all the legal and general duties associated with the property.
You must always get this affidavit made in case you are actually transferring or selling your property that will be transferred to someone else in order to either pay off the debt or otherwise any reason whatsoever.
The legal papers must always be ready for just in case there is lawsuit filed against you, you will at least be able to prove that you have no liability of any sorts regarding the said property.
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