Things you need to know about Affidavit of Loss.
1. What is an Affidavit of Loss?
An Affidavit of Loss is a written statement under oath where a person (the “affiant”) declares the physical loss of property. In short, it means the property is lost and can no longer be found. The loss can be due to inadvertent misplacement, theft, destruction by fire, flood or other means.
2. When do you need an Affidavit of Loss?
An Affidavit of Loss is usually required when the owner wants to have the lost item replaced with a new one (i.e. a government ID). In practice, most companies and government institutions require an Affidavit of Loss before issuing a replacement.
3. What information do you need to create the Affidavit of Loss?
To create your Affidavit of Loss, you’ll need the following minimum information:
- The affiant’s name and details (i.e. nationality and address);
- Brief description of the property lost;
- Brief explanation of how the property was lost; and
- The purpose why the affiant is executing the Affidavit of Loss.
4. How much is the document?
The document costs PHP 350 for a one-time purchase. Once purchased, you have unlimited use and revisions of this type of document.
You can also avail of Premium subscription at PHP 1,000 and get (a) unlimited use of our growing library of documents (from affidavits to contracts); and (b) unlimited use of our “Ask an Attorney” service, which lets you consult an expert lawyer anytime for any legal concern you have.