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#807527 - 08/31/07 06:47 PM Transfer of Affidavit Under $50K
Midwest Banker Offline
Gold Star
Joined: Nov 2004
Posts: 349
In reading the form and various statutes, I am no cleared on this issue than when I started.

How do you handle these at you institution? One person tells us we only need to see the form where others say we need proof it's been filed and accepted.

Any help would be appreciated.

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#808000 - 09/02/07 03:34 AM Re: Transfer of Affidavit Under $50K Midwest Banker
#Just Jay Offline
10K Club
#Just Jay
Joined: Oct 2006
Posts: 14,390
I am not a lover of these either. Here is my two cents:

Our institution actually encourages staff to help the heir complete the form if needed, which I am not a fan of, but so be it.

We will then notarize and honor the form, and then assume the heir will prior the document accordingly, with one exception, when any of the options in question 5 are answered "did", then we require the heir to follow the directions in number "9" before we honor. Here is a little more info that I obtained from the state's court site that you may find helpful:


Also review 867.3 (2) on page three from the states statues and annotations. It talks about the transferors release from liability, and the the following section discusses the affiants responsibilities after they receive the funds.


As always, if still nto sure, consult your bank counsel...its what you pay them for!
I don't repeat gossip, so listen closely...

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