There are several reasons people might have concerns about a deed, but a common one is when there's an uninsured transfer of the title. When this happens, an Uninsured Deed Affidavit is usually needed to address these issues. This affidavit is requested from the people who signed the uninsured deed, especially when the title wasn't insured by a title insurance company.

Why is this important? Because if a deed was recorded without a title agent or title insurance company checking it, questions can arise about whether the transfer was valid. This includes concerns about the identity, authority, and legal capacity of the person who signed the deed. Other worries include fraud, forgery, elder abuse, and the circumstances under which the deed was signed.

The Uninsured Deed Affidavit is a sworn statement by a former owner. It confirms that the deed can be trusted by the title agent and title insurance company because the affidavit addresses the concerns about the deed's validity and how it was signed. Once a properly completed affidavit is received and reviewed, the title insurer may provide insurance for the buyer and/or lender, protecting them from potential problems with the deed.

Stewart Title works hard to find and resolve issues related to uninsured deeds, so you can feel confident that the insured buyer and/or lender is protected from potential problems with prior uninsured deeds.

For more information about the Uninsured Deed Affidavit, feel free to reach out!