Seller's Affidavit
(Commercial) (NJ)

Summary

This seller's affidavit (also referred to as an owner's affidavit or an affidavit of title) may be used in a commercial real estate purchase and sale transaction in New Jersey to induce the title insurance company to delete certain standard exceptions from the buyer's title insurance policy. This template includes practical guidance and drafting notes. This affidavit includes representations and warranties related to matters affecting ownership of the subject property, potential liens on the property, and matters impacting the seller such as bankruptcy. The representations and warranties included in the affidavit will vary depending on the requirements of the insuring title company and should be modified to suit the particular transaction. In addition, this affidavit assumes that the seller is an entity rather than an individual. For a full listing of key content covering purchasing and selling commercial real estate, see Purchasing and Selling Commercial Real Estate Resource Kit. For further guidance on commercial purchase and sale transactions in New Jersey, see Purchase and Sale of Commercial Real Property (NJ).