An Affidavit of Consideration for Use by Buyer is a crucial document in U.S. real estate transactions that serves as a sworn statement regarding the actual consideration paid for property. This document is required by many county recording offices to ensure accurate assessment of transfer taxes and prevent fraud in property transactions. The affidavit includes specific details about the property, the parties involved, and the exact consideration amount. It must be notarized and is typically filed along with the deed and other closing documents.
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1. Identification of Parties: Details of the buyer and any other relevant parties involved in the transaction
2. Property Description: Detailed description of the property being transferred including address, lot number, and legal description
3. Consideration Amount: Statement of the full purchase price or consideration being paid for the property
4. Sworn Statement: Buyer's sworn statement regarding the truthfulness of the consideration amount and transaction details
5. Notarization Block: Space for notary acknowledgment, signature, and seal as required by state law
1. Additional Consideration Details: Used when there are multiple forms of consideration or special payment arrangements that need to be detailed
2. Prior Transaction Reference: Used when the transaction relates to a previous property transfer or requires reference to prior dealings
3. Special Circumstances Declaration: Used when there are unique aspects of the transaction requiring explanation or additional disclosure
1. Property Documentation: Copies of relevant property documents, surveys, or other supporting property records
2. Payment Schedule: Detailed schedule if the consideration is to be paid in installments or through special arrangements
3. Supporting Documents: Any additional documentation supporting the consideration amount or transaction details
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