Posted by BK_FL on 6/21/05 3:24pm
Msg #46549

Zero Consideration Affidavit

Today I ran across a form I have never seen before, it was titled Zero Consideration Affidavit.

It states the following verbatum;

I(We), understand that we are executing a deed for no consideration and understand that we are giving up all rights and future interests in the premises known as;
123 Main Street, Fort Lauderdale, FL 33301

The reason I have transferred a deed for no consideration is that this is a family transaction.
________________________________ __________________________________
Grantor Grantor

Then a regular stand format notary section. end of form.

Let me give a little more info, this was a split signing for a long seperated couple, however my end was the husband who resided in the house and he did not sign this form, as he stated she is the one giving up her rights not him.

Has anyone seen this form before? Was I suppose to get him to sign this too? I hope not! It went back not signed by him. BK/FL

Reply by Becca/FL on 6/21/05 4:33pm
Msg #46566

Hi Brenda - I've never seen nor drawn up such an animal. IMO, the only person(s) that would need to sign the aff. would be the grantor(s). Maybe it's to cover ones butt re: transfer taxes and to cover the Title Cos butt. Was this done by an atty? If so, that would explain it.

Reply by BK_FL on 6/21/05 11:57pm
Msg #46703

Hi Becca! It wasn't an attorney, but rather a national SS company, Lenders. I just could not understand why anyone would sign off all their interest and rights in a property for a refi? Maybe it was one of those freak special situation forms, I hope so! Happy Signing! BK/FL