VA Commercial Affidavit - Virginia

COMMERCIAL AFFIDAVIT – VIRGINIA

COMMONWEALTH OF VIRGINIA              )

    p;                                                                                         )

COUNTY OF                                        ) ss:

The Undersigned, being duly sworn according to law, deposes and says:

1.       The Affiant, ____________________________________________________________ (hereinafter referred to as “Owner”), is the grantee in that certain Deed dated ______________ (the “Deed”), recorded _____________ in Deed Book ________ at Page ________ among the Land Records of ___________________________, Virginia, which conveyed to Owner the property known as ___________________________________ (the “Conveyed Property”) described in the Deed, the legal description of which is attached hereto as Exhibit  A and incorporated herein by this reference.  Based solely on that certain Owner’s Policy of Title Insurance No. [______________], dated ________________ (the “Owner’s Title Policy”), from ___________________________________ to Owner, Owner is the owner of the Conveyed Property.  Owner has been advised that (i) a portion of the Conveyed Property is that certain property described in the Exhibit B, attached hereto and incorporated herein by this reference (the “Property”), and (ii) Stewart Title Guaranty Company’s Commitment for Title Insurance No. __________________ (the “Title Commitment”), copy of which is attached hereto and incorporated herein by this reference as Exhibit C, is a commitment to insure the Owner’s conveyance of the Property to ________________________________________________.

2.       Since the recordation of the Deed on _______________, the Owner is personally familiar with the management and operation of the Property, including the existence of any tenancies granted by Owner, leases entered into by Owner, parties in possession and other occupancies, and payment of real estate taxes and special assessments to ________________ and payment of assessments to the ________________________________ Association in connection with the Property.

3.       Owners’ enjoyment of the Property has been peaceful and undisturbed and Owner’s title to the Property has never been disputed or questioned to Owner’s knowledge, nor does Owner know of any facts by reason of which title to, or possession of the Property might be disputed or questioned, or by reason of which any claim to the Property or any portion thereof might be asserted adversely, except as disclosed in the Owner’s Title Policy and Title Commitment.

(a)     There are no tenancies of the Property granted by Owner, leases of the Property entered into by Owner, occupancies of the Property consented to by Owner, or parties in possession of the Property, except as disclosed in the Owner’s Title Policy and Title Commitment.   OR

(b)       A complete list of all parties in possession of any portion of the property is attached hereto and made a part hereof.  There are no other tenancies, leases, parties in possession, or other occupancies of the property and each of the parties disclosed on the attached list occupies the property or has a right to such occupancy either as a tenant from month to month without lease, or pursuant to the terms of an unrecorded lease.

4.       No proceeding in bankruptcy has ever been instituted by or against the Owner, nor has the Owner ever made a general assignment for the benefit of creditors.

5.       The Owner knows of no action or proceeding relating to the Property currently pending in any State or Federal Court in the United States nor does the Owner know of any State or Federal Judgment or any Federal Lien of any kind or nature whatever, which now constitutes a lien or charge upon the Property.

6.       Except as disclosed in Owner’s Title Policy and the Title Commitment, Owner is not a party to any unrecorded documents affecting Owner’s title to the Property.

7.       Owner has not received any notice of any unpaid real estate taxes and/or special assessments by ___________________, or assessments by the _______________________ _______________________, affecting the Property other than those shown on the Title Commitment.

8.       To Owner’s knowledge, there are no unpaid real estate taxes to _____________________ or charges for public water and/or public sewer services or unpaid special assessments to _________________________________ for items such as improvements for sidewalks, curbs, gutters, sewers, etc., other than as may be shown as existing liens on the Property in the public records.

9.       With respect to the Property, Owner has no unpaid bills or claims for labor or services performed or materials furnished or delivered during the last twelve (12) months for alterations, repair, work, or new construction on the Property, except items not yet due and payable which will be paid in the ordinary cause of business by Owner, or except for the following:

10.    There is no building located on the Property OR the building or buildings were completed more than _________ years ago.

11.    Owner knows of no contract by Owner for the making of repairs or improvements on the Property except as follows:  

12.    This affidavit is given to induce Stewart Title Guaranty Company to issue its policy or policies of title insurance insuring Owner’s conveyance of the property with full knowledge that Stewart Title Guaranty Company will be relying upon the accuracy of same.

__________________________________________

                                                                                By:         ____________________________________

                                                                                                Its

Subscribed and sworn to before me this _____ day of _______________, 20____.

Notary Public

My Commission Expires: