Affidavit Of Business Ownership

The Crucial Role of an Affidavit of Business Ownership: Implications for Modern Industry

By Anya Sharma, Esq.

Anya Sharma is a seasoned corporate lawyer with over 15 years of experience specializing in business law and contract negotiations. She has advised numerous businesses on legal compliance and has published extensively on topics related to business ownership and legal documentation.

Published by: LexCorp Legal Publications – LexCorp is a leading publisher of legal and business resources, renowned for its accuracy and insightful analysis of complex legal matters. We maintain the highest standards of journalistic integrity.

Edited by: James Miller, J.D. – James Miller is a senior editor at LexCorp Legal Publications with 20 years of experience in legal publishing. He holds a Juris Doctorate from Harvard Law School and possesses deep expertise in commercial law.

Keywords: Affidavit of Business Ownership, Business Ownership, Legal Affidavit, Business Documentation, Legal Compliance, Sole Proprietorship, Partnership, LLC, Corporation, Business Transfer, Legal Proceedings

Summary: This article delves into the significance of an affidavit of business ownership, explaining its purpose, legal implications, and industry-wide impact. It explores various business structures and how an affidavit of business ownership proves beneficial in different scenarios, including loan applications, business transactions, and legal disputes.

What is an Affidavit of Business Ownership?

An affidavit of business ownership is a sworn written statement declaring the ownership structure of a business. It's a legal document where the owner(s) formally attest under oath to their ownership stake, the business's legal structure (sole proprietorship, partnership, LLC, corporation, etc.), and other relevant details such as the date of establishment and business address. This seemingly simple document carries significant weight in various business and legal contexts.

The Importance of an Affidavit of Business Ownership

The importance of an affidavit of business ownership cannot be overstated. It serves as irrefutable evidence of ownership, crucial in a multitude of situations:

#### 1. Securing Business Loans and Financing:

Banks and financial institutions require proof of ownership before approving loans. An affidavit of business ownership provides this crucial evidence, streamlining the loan application process and increasing the chances of approval.

#### 2. Facilitating Business Transactions:

Whether buying, selling, or merging a business, an affidavit of business ownership is paramount. It verifies the legitimacy of the seller’s claim of ownership, protecting buyers from potential legal disputes and ensuring a smooth transaction.

#### 3. Resolving Legal Disputes:

In cases of business disputes, lawsuits, or legal proceedings, an affidavit of business ownership can play a decisive role in establishing ownership rights. It can significantly influence court decisions and protect the interests of legitimate business owners.

#### 4. Compliance and Regulatory Requirements:

Certain industries and jurisdictions might mandate the submission of an affidavit of business ownership as part of their regulatory compliance requirements. This is especially relevant for businesses seeking licenses, permits, or operating in regulated sectors.

#### 5. Transferring Business Ownership:

During the transfer of business ownership, an affidavit of business ownership is essential to demonstrate the legitimacy of the transfer and update official records. This ensures a clean and legal handover of ownership.

Different Business Structures and the Affidavit

The content of an affidavit of business ownership varies depending on the business structure:

Sole Proprietorship: A simple affidavit will suffice, declaring the owner's sole ownership and the business’s details.
Partnership: The affidavit will list all partners, their respective ownership percentages, and the partnership agreement details.
Limited Liability Company (LLC): The affidavit will specify the members of the LLC, their ownership shares, and the LLC's operating agreement.
Corporation: The affidavit will identify the corporation's shareholders, their ownership percentages, and relevant corporate documents such as the articles of incorporation.

Preparing a Legally Sound Affidavit of Business Ownership

Creating a legally sound affidavit of business ownership requires careful consideration. It must be accurate, complete, and notarized. Seeking legal counsel is advisable to ensure the document complies with all applicable laws and regulations. A poorly drafted affidavit can have serious repercussions in legal disputes. Inaccuracies or omissions can weaken your claim to ownership and jeopardize your interests.

The Future Implications of Affidavit of Business Ownership

With the increasing complexity of business transactions and legal regulations, the role of an affidavit of business ownership will only grow in importance. As businesses become more sophisticated and interconnected, the need for clear and unambiguous proof of ownership will remain paramount. The digitalization of business records is also likely to impact the way affidavits are prepared and stored, with electronic signatures and secure digital repositories gaining prominence.

Conclusion

An affidavit of business ownership is an indispensable legal document for any business, irrespective of its size or structure. Its implications are far-reaching, impacting business transactions, legal proceedings, and regulatory compliance. Understanding its significance and ensuring its proper preparation is crucial for protecting your business interests and navigating the complexities of the modern business landscape. Proper legal counsel is always recommended to avoid potential pitfalls.

Frequently Asked Questions (FAQs)

1. Who should prepare an affidavit of business ownership? Ideally, a lawyer specializing in business law should prepare the affidavit to ensure its legal accuracy and validity.

2. Where can I find a sample affidavit of business ownership? While sample forms are available online, it's crucial to consult a lawyer to adapt it to your specific business structure and circumstances.

3. Is an affidavit of business ownership the same as a certificate of good standing? No, they serve different purposes. A certificate of good standing verifies that a business is compliant with state regulations, while an affidavit proves ownership.

4. What happens if my affidavit of business ownership contains errors? Errors can significantly weaken its legal standing and could negatively impact your case in legal proceedings.

5. Can I use a self-prepared affidavit of business ownership? While possible, it's highly recommended to seek professional legal help to ensure accuracy and legal compliance.

6. How long is an affidavit of business ownership valid? The validity depends on the context in which it's used. Some jurisdictions might have specific guidelines, while others might consider it valid until challenged.

7. What if my business structure changes? You need to update your affidavit of business ownership to reflect the new structure.

8. Is notarization essential for an affidavit of business ownership? Yes, notarization adds legal validity and ensures the authenticity of the owner’s signature and statement.

9. What happens if I lose my affidavit of business ownership? You should seek legal assistance to recreate it, potentially using other documentation to support your claim of ownership.

1. Understanding Different Business Structures: A comprehensive guide exploring the various legal structures available for businesses, including sole proprietorships, partnerships, LLCs, and corporations.

2. The Importance of Business Registration: This article highlights the significance of registering your business with the relevant authorities and the benefits it provides.

3. Navigating Business Mergers and Acquisitions: A detailed explanation of the legal processes involved in business mergers and acquisitions, including due diligence and legal documentation.

4. Protecting Your Intellectual Property: This article focuses on the importance of protecting your business’s intellectual property, including trademarks and patents.

5. Dispute Resolution in Business: A guide to different methods of dispute resolution in business, including mediation and arbitration.

6. Securing Business Loans: A Step-by-Step Guide: This article provides practical advice on securing business loans and financing.

7. Business Contracts and Agreements: A comprehensive overview of the essential business contracts and agreements needed for various business operations.

8. Legal Compliance for Small Businesses: This article provides guidance on the legal requirements and compliance issues for small businesses.

9. Transferring Business Ownership: A Legal Perspective: A detailed explanation of the legal aspects of transferring business ownership, including tax implications and legal documentation.

affidavit of business ownership: Indiana Notary Public Guide Indiana Secretary of State, 2019-04-06 A notary is a public official responsible for independently verifying signatures and oaths. Depending on how a document is written, a notarization serves to affirm the identity of a signer and the fact that they personally executed their signature. A notarization, or notarial act, officially documents the identity of a party to a document or transaction and the occasion of the signing that others can rely upon, usually at face value. A notary's authentication is intended to be reliable, to avoid the inconvenience of having to locate a signer to have them personally verify their signature, as well as to document the execution of a document perhaps long after the lifetime of the signer and the notary. An oath is a sworn statement. In most cases a person will swear that a written statement, oral statement, or testimony they are about to give is true. A notary can document that the notary administered an oath to an individual.
affidavit of business ownership: Model Rules of Professional Conduct American Bar Association. House of Delegates, Center for Professional Responsibility (American Bar Association), 2007 The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
affidavit of business ownership: Business and Commerce Code Texas, 1968
affidavit of business ownership: North Carolina Notary Public Manual, 2016 North Carolina Department of the, Nc Department Secretary of State, 2018-11-13 The office of notary public has a long and proud history in our society. Their work is rarely glamorous, but it is so important that the highest courts in the nation routinely accept properly notarized documents as evidence in legal matters. In fact, the law governing notaries gives them the same mission as sworn law enforcement officers, to serve and protect.
affidavit of business ownership: Reports and Documents United States. Congress, 1957
affidavit of business ownership: Doing Business 2020 World Bank, 2019-11-21 Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
affidavit of business ownership: Report United States. Congress. House,
affidavit of business ownership: Western Land Owner , 1886
affidavit of business ownership: District and County Reports Pennsylvania. Courts, 1922
affidavit of business ownership: The Code of Federal Regulations of the United States of America , 2001 The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government.
affidavit of business ownership: Code of Federal Regulations , 1995
affidavit of business ownership: Intermediate Report of the Committee on Government Operations United States. Congress. House. Committee on Government Operations, 1957
affidavit of business ownership: Federal Register , 2013-02
affidavit of business ownership: The Federal Reporter , 1920
affidavit of business ownership: New York Supreme Court ,
affidavit of business ownership: The Department of State Bulletin , 1947 The official monthly record of United States foreign policy.
affidavit of business ownership: Journal of the Assembly, Legislature of the State of California California. Legislature. Assembly, 1979
affidavit of business ownership: The Journal of the Assembly During the ... Session of the Legislature of the State of California California. Legislature. Assembly, 1979
affidavit of business ownership: The Executor's Guide Mary Randolph, Jennie Lin, 2024-06-07 The step-by-step guide to serving as an executor, trustee, or estate representative If you need to wrap up the affairs of a loved one who has died, you may feel overwhelmed—especially when you’re grieving. But you can do it, and this book will show you how. The Executor’s Guide provides a clear road map through an unfamiliar land of legal procedures and terminology. You’ll learn what to do right away and what can wait. Find help on: • preparing for the job of executor or trustee • the first steps you should take after a loved one dies • claiming life insurance, Social Security, and other benefits • making sense of a will, and what to do if there is no will • how to determine whether probate is necessary • filing taxes • managing assets inherited by a minor child • probate court proceedings • handling simple trusts, and • working with lawyers, appraisers, accountants, and other experts. The 10th edition of The Executor's Guide contains updated tables that outline the key points of each state's laws. It also provides the latest information on estate tax laws. With Downloadable Worksheets: download and customize worksheets detailing information executors need to get organized, including an inventory of assets and debts (details inside).
affidavit of business ownership: Martin V. Graybar Electric Company , 1958
affidavit of business ownership: A Guide to Starting a Business in Minnesota Charles A. Schaffer, Madeline Harris, 1983
affidavit of business ownership: The Georgia Code, 1926 Georgia, 1930
affidavit of business ownership: South Western Reporter. Second Series , 1928
affidavit of business ownership: An Introductory Guide to EC Competition Law and Practice Valentine Korah, 1994
affidavit of business ownership: Municipal Legal Forms, with Commentary Ralph J. Moore, 1976
affidavit of business ownership: Atlantic Reporter , 1898
affidavit of business ownership: FCC Record United States. Federal Communications Commission, 2002
affidavit of business ownership: Federal Communications Commission Reports United States. Federal Communications Commission, 1967
affidavit of business ownership: Registrant Facts , 1974
affidavit of business ownership: RA 9054 Philippines, 2003
affidavit of business ownership: Ownership Certificates Under the Federal Income Tax Law Including Returns of Information and Witholding Guaranty Trust Company of New York, 1921
affidavit of business ownership: Records and Briefs new York State Appellate Division ,
affidavit of business ownership: Supreme Court ,
affidavit of business ownership: Decisions and Orders of the National Labor Relations Board United States. National Labor Relations Board, 1992
affidavit of business ownership: Records and Briefs of the United States Supreme Court , 1832
affidavit of business ownership: Code of Georgia Annotated Georgia, 1936
affidavit of business ownership: The Law Times Reports , 1917
affidavit of business ownership: The Atlantic Reporter , 1924
affidavit of business ownership: Decisions of the Comptroller General of the United States United States. General Accounting Office, 1927 Contains a selection of major decisions of the GAO. A digest of all decisions has been issued since Oct. 1989 as: United States. General Accounting Office. Digests of decisions of the Comptroller General of the United States. Before Oct. 1989, digests of unpublished decisions were issued with various titles.
affidavit of business ownership: The Pacific Reporter , 1922
OWNERSHIP DISCLOSURE FORM
OWNERSHIP DISCLOSURE FORM STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY - DIVISION OF PURCHASE AND PROPERTY -0230 DPP Rev. 9.21.2022 . …

AFFIDAVIT OF LAND OR MINERAL OWNERSHIP: NON …
AFFIDAVIT OF LAND OR MINERAL OWNERSHIP: NON-EXEMPT BUSINESS OR TRUST STATE OF _____ ))ss. COUNTY OF _____ ) ... If the Entity is a business, its direct and …

New Jersey Department of Transportation Annual No …
Rev 12/19 ADDITIONAL DOCUMENTS Submit the following documents with this “annual no change affidavit”. Place a ( ) check in the box opposite each item being submitted. Indicate …

CHANGE OF OWNERSHIP/MANAGEMENT PACKET - thecha.org
Rev. 01232024, Eff. 02022024, CHA-0022: Change of Ownership/Management Packet SUPPORTING DOCUMENTATION Please complete and/or include the appropriate …

DISCLOSURE OF OWNERSHIP AND INTERESTS AFFIDAVIT
shall submit this Disclosure of Ownership and Interests Affidavit (hereafter Disclosure Affidavit or “Affidavit”). If the Bidder is a joint venture, the joint venture and each of the joint venture …

BENEFICIAL OWNERSHIP CERTIFICATION FORM - Tri …
by a filing of a public document with a Secretary of State or similar office, a general partnership, and any similar business entity formed in the United States or a foreign country. Legal entity . …

OWNERSHIP AFFIDAVIT FOR CORPORATION
the Corporation, doing business at the following address: 2. The Corporation owns the property which is the subject of this request. ... Affiant understands this affidavit is subject to the …

Affidavit Of Business Ownership Sample
Id here for affidavit of business ownership of control, the difference between an affidavit forms of a limited power of the signature. Customers or near the deceased person opening an affidavit …

AFFIDAVIT OF BUSINESS CLOSURE/RETIREMENT - Muntinlupa
REPUBLIC OF THE PHILIPPINES ) CITY OF MUNTINLUPA ) SS AFFIDAVIT OF BUSINESS CLOSURE/RETIREMENT I, _____ of legal age,_____, Filipino, with residence and postal

Form 768 - General Affidavit - Missouri Department of …
To notify the Department of Revenue that a transfer of ownership has occurred for a motor vehicle, trailer, all-terrain vehicle (ATV), motorcycle, motortricycle, or autocycle, complete the …

Space reserved for Clerk) - Miami-Dade County
5. Affiant understands this affidavit is subject to the penalties of law for perjury and the possibility of voiding of any zoning granted at public hearing. Witnesses: _____ _____ Signature Affiant's …

Business Owners Background Disclosure Packet - Minnesota …
Minnesota Statutes § 326B.83, subd 2, requires the disclosure of certain criminal, civil action, and financial information from the legal business entity applying to be licensed and its directors, …

MIAMI DADE COUNTY HOUSING AGENCY
The full legal name and business address of the person(s) or entity contracting or transacting business with Miami-Dade County are (Post Office addresses are not acceptable): ... MIAMI …

AFFIDAVIT OF PROPERTY OWNERSHIP - AustinTexas.gov
AFFIDAVIT OF PROPERTY OWNERSHIP . Before me, the undersigned authority, , [ PLEASE PRINT NAME OF AFFIANT] Being first duly sworn, deposes and states: I am over the age of …

Affidavit Of Company Ownership
1. Learn all about affidavits of ownership. Understand their importance, how to create one, and their role in verifying property rights. 2. The certification category for the business is that of the …

AFFIDAVIT OF NON-OWNERSHIP OF REAL PROPERTY - CITY …
I/We am/are executing this affidavit to attest to the truth of the foregoing facts and for whatever legal purposes it may serve., of legal age(s), Filipino(s), with residence and having been sworn …

AFFIDAVIT OF LAND OR MINERAL OWNERSHIP: EXEMPT …
in the Deed to which this Affidavit is attached (the “Property”), and to bind the Entity for the consequences of any false statements in this Affidavit. 3. This Affidavit is executed in …

AFFIDAVIT OF LAND OR MINERAL OWNERSHIP: INDIVIDUAL
AFFIDAVIT OF LAND OR MINERAL OWNERSHIP: INDIVIDUAL ... 5. This Affidavit is executed in accordance with and pursuant to 60 O.S. § 121, which provides in part as follows: ...

Instructions for completing the Affidavit of Intended Use
4. This affidavit must be returned to your information provider. 5. You are required to complete, notarize and file a new Affidavit of Intended Use whenever information about your company …

RESIDENTIAL BUILDER LICENSE APPLICATION …
•Copy of your Driver’s License, State Issued ID, Passport or Military ID. • Copy of Social Security card. • Copy of your complete credit report, we accept TransUnion, Equifax or Experian. • …

Exhibit to Deed AFFIDAVIT OF LAND OR MINERAL …
AFFIDAVIT OF LAND OR MINERAL OWNERSHIP: BUSINESS OR TRUST STATE OF OKLAHOMA ))ss. ... This Affidavit is executed in accordance with and pursuant to 60 O.S. § …

08 Affidavit of Ownership 10-0622 - barrington-il.gov
Z:\DS\DS Coordination\Commissions\ARC Cases\ARC PACKET\ARC - Historic Packet 10-0622\08 Affidavit of Ownership 10-0622.doc AFFIDAVIT OF OWNERSHIP

Affidavit of Nondealer Transfers of Motor Vehicles and …
AFFIDAVIT OF NON- DEALER TRANSFERS OF MOTOR VEHICLES AND BOATS Relat ive transfer: If a person is tr ansferring a boat or motor vehicle to certain relativ es, those relativ es …

Business Entity1 Affidavit (Form PG 2) - ethics.maryland.gov
Business Entity. 1 Affidavit (Form PG 2) General Information . The Prince George's County land use ethics law (General Provisions Article, §§ 5-833 to 5-839, Annotated Code of Maryland) …

AFFIDAVIT OF NEW OWNERSHIP - cms5.revize.com
business tax certificate number _____ to _____. “Under penalties of perjury, I declare that I have read the foregoing document and that the facts stated in it are true.” Signature of Former …

Affidavit of Title - Corporation - Foundation Title
The sale is not made in the regular course of the business of the corporation. A copy of the authorization and approval of the shareholders is attached. 5. Ownership and Possession. It …

ORANGE COUNTY, FLORIDA AFFIDAVIT OF LGBT BUSINESS …
LGBT BUSINESS ENTERPRISE OWNERSHIP Directions: Please complete this form, execute it, and have it notarized. To submit your ... age of majority, (2) of sound and competent mind; and …

AFFIDAVIT TO TRANSFER BROWARD COUNTY LOCAL …
AFFIDAVIT TO TRANSFER BROWARD COUNTY LOCAL BUSINESS TAX RECEIPT (formerly known as occupational license) IN LIEU OF THE ORIGINAL RECEIPT. I, the undersigned …

Instructions for Affidavit of Support - USCIS
This affidavit is required for most family-based immigrants and some employment-based intending immigrants to show ... or has a five percent or more ownership interest in the business that …

CERTIFICATE OF OWNERSHIP - bradleybeachnj.gov
CERTIFICATE OF OWNERSHIP WHERE: TITLE OF WORK: _____ ... NON-COLLUSION AFFIDAVIT STATE OF NEW JERSEY ) SS: COUNTY OF _____ ) I, _____, of the City of …

Transfer of Ownership Guidelines - State of Michigan
definitions and transfer of ownership exceptions are contained in MCL 211.27a(6)(a)-(j) (See appendix). Transfer of ownership exemptions are contained in MCL 211.27a(7)(a)-(x). (See …

Home | Navotas City
his business without any rental fee. ükewise of legal age, and a resident to use the abovementioned property for 3. That the consent hereby given is deemed continuing in nature …

Affidavit of Sole Proprietorship - PSECU
Affidavit of Sole Proprietorship . I, , of lawful age, being first duly sworn upon ... This business is not incorporated, nor is it a partnership, or limited liability company. I have no knowledge of …

Parking – Affidavit of Non-Ownership - slcdocs.com
Parking – Affidavit of Non-Ownership Complete this affidavit if you were not the owner when the vehicle was ticketed. I was not the owner of a with license plate (Name) (Make of vehicle) …

REPUBLIC OF THE PHILIPPINES) CITY OF ) S.S. AFFIDAVIT …
Business name, usiness ownership, bffice address, /storageo warehouse address, responsible officers, line of business, contact numbers, email ... affidavit, and I have personally examined …

Affidavit of Land Ownership -Exemptions
Affidavit of Land Ownership -Exemptions . Cite as: 60 O.S. § 121 (OSCN 2024) The exemption needs to be shown on the face of the deed . 1. Deed which, without additional consideration, …

Attachment #2 Owner’s Form - Revize
owner, by this Affidavit, acknowledges that this structure is a threshold building as defined by Part IV, Chapter 553, Florida Statutes. Said owner agrees to comply with all provisions of this law …

Community Pharmacy License - California
License Application, the Ownership Information form, or any affidavit submitted in support of a Community Pharmacy License Application, such term shallhave the meaning set forth in BPC …

MINORITY BUSINESS ENTERPRISE DISCLOSURE AFFIDAVIT
minority business enterprise disclosure affidavit Application is hereby made by the organization identified below for certification as a Minority usiness Enterprise under the ME Program of the …

AFFIDAVIT OF WAIVER - Department of Human Settlements …
AFFIDAVIT OF WAIVER I, _____, of legal age, single/married, Filipino, with postal address at Blk. ___ Lot ___ CA Address, after having been duly sworn to in accordance with, hereby depose …

AFFIDAVIT OF UNDERTAKING - Muntinlupa
2. That I am applying a Mayor’s and Business Permit to the Business Permit and Licensing Office (BPLO) of the City Government of Muntinlupa and one (1) of the requirements of the same is a …

VP 019 - Erasure Affidavit - Nevada Department of Motor …
ownership documents, that individual is required to sign the affidavit. When representing a business, the business name and the name of the authorized business representative must …

AFFIDAVIT - MahaOnline
obtained then an Undertaking in Affidavit form signed by all the partners should be submitted. 2. The business like Petrol Pump/ L.P.G. / Kerosene/ Ration Shop/ Liquor/ Mining of Minerals/ …

PART 1: CERTIFICATION RENEWAL AFFIDAVIT DECLARATION
you must include the following with this affidavit: 1. business tax returns for this business and all affiliated businesses for the current year ... 4. notarized statement from all owners of the …

KANSAS Department of Revenue Affidavit to a Fact TR-12
AFFIDAVIT TO A FACT www.ksrevenue.org Fill out the vehicle information, check appropriate statement(s) and the Affiant’s Certification at the bottom ... in Kansas, the ownership of the …

Table of Contents - Florida Highway Safety and Motor Vehicles
certificate of title for the motor vehicle; however, the dealer must transfer ownership and reassign the certificate of title or manufacturer’s certificate of origin to the purchaser, and the purchaser …

AFFIDAVIT OF TITLE-LLC STATE OF NEW JERSEY …
AFFIDAVIT OF TITLE-LLC STATE OF NEW JERSEY APPLICATION NO. COUNTY OF SS: say(s) under oath upon affirmation: ... made in the regular course of the business of the …

HU B Certification Limited (Liability) Company documentation …
– Complete a Limited (Liability) Company Affidavit of Ownership and Business Balance Sheet form (see . Page 16); and ... ♦ Detailed explanation of any other employment and/or business …

Exhibit to Deed AFFIDAVIT OF LAND OR MINERAL …
AFFIDAVIT OF LAND OR MINERAL OWNERSHIP: BUSINESS OR TRUST STATE OF OKLAHOMA ))ss. ... This Affidavit is executed in accordance with and pursuant to 60 O.S. § …

Vehicle Licensing Guide Evidence of Ownership Insufficient- …
Evidence of Ownership Insufficient- Affidavit in Lieu of Title . VLIC-3.555 . Original Date: 12/17/1990 . Revision Date: 04/25/2023 ... For customers with vehicles purchased from a …