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10. Each signatory to this Affidavit expressly acknowledges that the Lender and/or Service is
relying upon the representation made herein as consideration for discounting the payoff on
the Loan, which
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How to fill out affidavit of arms length
How to fill out affidavit of arms length
01
To fill out an affidavit of arms length, follow these steps:
02
Begin by providing the name and contact information of the person filling out the affidavit.
03
Clearly state the purpose of the affidavit and specify that it is for an arms length transaction.
04
Include details about the parties involved in the transaction, such as their names and contact information.
05
Mention any specific properties or assets being transferred or exchanged in the transaction.
06
Clearly outline the terms and conditions of the transaction, ensuring that they reflect an arms length agreement.
07
Indicate that all information provided in the affidavit is true and accurate to the best of the affiant's knowledge.
08
Include a statement of affirmation where the affiant swears under penalty of perjury that the information provided is true.
09
Leave space for the affiant to sign and date the affidavit, along with any required witness signatures.
10
Make sure to review the completed affidavit for accuracy and completeness before submitting it to the appropriate party.
Who needs affidavit of arms length?
01
An affidavit of arms length is typically needed in the following situations:
02
Real estate transactions: When buying or selling property to a family member or close associate, a lender or other involved parties may require an affidavit of arms length to ensure the transaction is fair and reflects market value.
03
Business transactions: In certain business deals, particularly those involving related parties, an affidavit of arms length may be required to prove that the transaction was conducted at fair market value.
04
Legal proceedings: In some legal cases, such as divorce or estate disputes, an affidavit of arms length may be necessary to establish that any transfers or exchanges were done in good faith and without undue influence.
05
It is always best to consult with legal professionals or relevant authorities to determine if an affidavit of arms length is needed in your specific situation.
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