What is the difference between an affidavit of title and a title commitment?

An affidavit of title and a title commitment are both important aspects of residential real estate law in Delaware. Both documents play a role in the transfer of ownership of a home from one individual to another. An affidavit of title is a signed document typically signed by the seller that states they are the rightful, legal owner of the property. The document also states any other important details such as mortgages, liens, or other claims on the property. It is an important document in a real estate transaction because it attests to the seller’s good title of the property. A title commitment is a document created by a title insurance company. It outlines the conditions and restrictions that must be met in order for the title insurance company to issue a policy. The title commitment helps to ensure that the property is free from any liens or encumbrances and that the transaction can proceed without any legal impediments. The title commitment is also important because it establishes the title insurance company’s obligation to provide coverage should any issues arise. Both documents are important for the safety of the buyer and the seller in any real estate transaction. An affidavit of title provides assurance that the seller is the legal owner, while a title commitment provides assurance that there are no legal issues with the property.

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What is the difference between an affidavit of title and a title commitment?

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