STG Estoppel Certificate - Corporation Giving Deed In Lieu of Foreclosure
ESTOPPEL CERTIFICATE FORM OF CORPORATION GIVING DEED IN LIEU OF FORECLOSURE
STATE OF ____________ )
COUNTY OF __________ )
_________________________ and ________________________ , being first duly sworn, each for himself/herself, deposes and says: That they are the ________________ and ________________ respectively, of __________________________ , the corporation which made, executed, and delivered that certain deed to ____________________ , dated the _____ day of ____________ , 20 _____ , conveying the following described property, to-wit:
That they make this affidavit for and on behalf of said corporation pursuant to a resolution of its Board of Directors;
That the aforesaid deed was intended to be and was an absolute conveyance of the title to said premises to the grantee named therein, and was not and is not now intended as a mortgage, trust conveyance, or security of any kind; that it was the intention of said corporation as grantor in said deed and by said deed said corporation did convey to the grantee therein all of its right, title, and interest absolutely in and to said premises; that possession of said premises has been surrendered to the grantee;
That aforesaid deed was not given as a preference against any other creditors of the deponent; that at the time it was given, there was no other person or persons, firms or corporation, other than the grantee therein named interested, either directly or indirectly in said premises; that the deponent is solvent and has no other creditors whose rights would be prejudiced by such conveyance, and that deponent is not obligated upon any bond or other mortgage whereby any lien has been created or exists against the premises described in said deed;
That in the execution and delivery of said deed said corporation was not acting under any misapprehension as to the effects thereof, and acted freely and voluntarily, and was not acting under coercion or duress; that the consideration for said deed was and is payment to said corporations of the sum of $ _______________ by grantee and the full cancellation of all debts, obligations, and charges secured by that certain mortgage heretofore existing on said property executed by __________________ , to __________________ , dated the _____ day of ____________ , 20 _____ , and recorded in Book _____ of Official Records, Page _____ , _______________ County, State of ______________ , and the release of record of said mortgage; that at the time of making said deed corporation believed, and affiants as officers of said corporation, believed, and now believe that the aforesaid consideration therefor represents the fair market value of the property so deeded;
This affidavit and estoppel certificate is made for the protection and benefit of the grantee in said deed, his successors and assigns, and all may acquire an interest in the property herein described;
That affiants, and each of them, will testify, declare, depose, or certify before any competent tribunal, officer, or person, in any case now pending or which may hereafter be instituted, to the truth of the particular facts hereinabove set forth;
That said affiants have executed this affidavit and estoppel certificate as individuals, and also for and on behalf of said corporation pursuant to authority of the Board of Directors of said corporation.
(Add appropriate language for recordable affidavit in the specific state.)
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