Affidavit Report

1. WHAT IS AFFIDAVIT?

2. An Affidavit is a formal written statement
of facts voluntarily made by an affiant
under an oath or a public official such as
the notary public or a person authorized to
do so. It will be used to prove the
truthfulness of a certain statement in court.

3. It is either the personal knowledge of
the affiant or his/her information and
belief or although not based on their
personal perspective, the affiant
states only what he/she feels they can
state as true.

4. EXAMPLES:
Affidavit of Power of Attorney
 A power of attorney (POA) is a legal document signed
by one person, known as the principal, that gives
another person, the agent, the authority to act on the
the principal's behalf. However, this authority ends if
the principal dies or revokes the power of attorney.
Before a third-party acts in reliance on a POA, the
agent may be required to sign an affidavit stating that
that the power of attorney is currently in effect and
that the principal has not died or revoked the POA.

5. Self-Proving Will Affidavit
This is when the signature of a person
making a will is notarized. Generally, a will
requires at least two witnesses to the
maker's signature. Traditionally, when the
maker died, it was necessary to have the
witnesses testify in court in order to make
the will valid. With a self-proving will
affidavit, the will is automatically deemed
valid without the testimony of the
witnesses.

6. Financial Affidavit
This type of affidavit verifies certain
financial information relating to the affiant.
Financial affidavits are common in divorce
cases, where each party must verify their
assets, debts, income, and expenses.
Financial affidavits are also commonly used
in connection with estate planning and
various financial transactions such as loan
applications.

7. Affidavit of Lost Document
If a vital legal document is lost or destroyed, it
can often be re-established with an affidavit. For
example, if you are owed money under
a promissory note that has been lost or
destroyed, it may be possible to re-establish the
note by executing an affidavit of lost
promissory note and indemnity agreement.
This allows another party to rely on your
assurance that the note existed and that you will
reimburse the other party in the event of any
economic loss due to your assurance.

8. Affidavit of Identity Theft
If you have been the victim
of identity theft, you may
need to provide an affidavit
certifying the theft to
creditors, banks, and credit
bureaus.