What does a "Property Transfer Affidavit" provide?

A "Property Transfer Affidavit" provides comprehensive information on the transfer of ownership of property. This document is essential in real estate transactions as it officially records who is acquiring the property and under what conditions. It serves to inform local assessors and the municipality about the change in property ownership, which is vital for updating property records, ensuring accurate property tax assessments, and maintaining the integrity of property ownership information within the local tax rolls.

While other options, such as details on property tax exemptions, market analysis, or historical property values, pertain to various aspects of real estate, they do not specifically relate to the function and purpose of the Property Transfer Affidavit. The affidavit is primarily focused on documenting the ownership change rather than analyzing market conditions or providing tax exemption details.