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

An affidavit of title and a title commitment are both documents that provide information about the title of a property. However, the two documents serve different purposes. An affidavit of title is a written document in which the seller of a property swears under oath that they are the rightful owner of the property and that there are no outstanding claims or liens on the property. A title commitment is a written document that outlines the terms of a title insurance policy. It will list any liens or claims that must be satisfied before ownership of the property can be transferred, such as debts or financial obligations. The title commitment also provides information on the buyer and seller of the property. In North Carolina, an affidavit of title is required for all real estate transactions in order to prove that the seller is the rightful owner of the property. A title commitment, on the other hand, is not required, but is often recommended as it provides extra protection for the buyer in case any issues with the title arise after the sale is complete. Ultimately, an affidavit of title is used to ensure that the seller is the rightful owner of the property, while a title commitment is used to ensure that the buyer will be protected if any issues with the title arise.

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

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