Affidavit of Loss Finally Explained
How many of you have lost things before? How many are prone to misplacing things all over the place?
We leave umbrellas, we leave keys, and even cellphones behind all the time. Most of the time, we can replace them anytime as long as we can buy new ones. However, the hardest to replace are documents that have legal significance. Driver’s Licenses, School or Company ID’s, or Certificates. When these get lost, we are usually required to submit an Affidavit of Loss.
As a non-lawyer, you may be asking:
“Attorney, what exactly is an affidavit of loss? Why do they ask me to submit it? When I submit it, what exactly am I saying there? Can you explain it to me before I sign it?”
If you’ve ever signed an affidavit of loss before but never understood what it is, stay tuned as we explain it to you.
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Welcome to Legal Guide Philippines, where we simplify the law to help you make better choices. I'm Atty. Ramon Ramirez and I are with my partner Atty. Erwin Zagala.
So today we're talking about the affidavit of loss. A lot of people need it, have it drafted, submit it, sign it, and submit it, but not a lot of you actually understand why you do it. So we’ll share 3 angles to help you understand what this document is all about.
What you will learn from this episode
So Atty. Erwin just talked about the affidavit of loss, and he explained it using 3 ways of looking at it.
1. It’s an announcement
2. It’s a reason
3. It’s a guarantee - it's notarized
For most of you, this lesson was more than enough. And if it makes your life easier then great. But there are some of you who will watch end up asking more questions, such as:
Where can I get a template for the Affidavit of Loss?
What about the other common documents? Where can I get them?
What happens when I have them notarized?
If that's you, then I invite you to check out the book, "Notary not included" where we give a crash course when dealing with legal documents. We'll talk about the lawyer's secret to making good legal documents, the three biggest myths about legal documents, and the three rules we follow when drafting for clients. Plus, we give you a simplified template set of the seven most requested documents that you can keep forever. Get the book now at info.legalguide.ph/notary today.
Now to add to that, if you want us to tackle your question in our show, go to www.legalguide.ph and click the "Submit Topic" Button. Next, we'd like to know what's your biggest takeaway from today's video, so please write it down in the comments and let's talk about it. Lastly, if you feel we've earned a good rating, please give us a like and subscribe because it gives us feedback that we're doing a good job and it encourages us to do more videos.
One last thing, if you are asked to submit legal documents, it’s a good practice to understand why you are submitting them and what you are being asked to attest to BEFORE you sign anything. Since an affidavit of loss is one of the most common legal documents you will encounter, use this as a starting point and make it a habit to understand legal documents before you sign them in the future.
So wasn't that simple? Now go make better choices.