Affidavit Of Loss
Categories: Insurance, Stocks, Bonds, Derivatives
In a world where everything exists in an amorphous computerized cloud, financial instruments, such as stocks and bonds, seem like completely abstract concepts. But in most cases, somewhere out in the world of things, an actual, physical certificate exists that represents that stock or bond or...whatever. And if that certificate is ever lost, the way to prove you owned it is with an affidavit of loss.
This legal document helps get a new copy of the item. In it, you swear (like testifying in court) about the details of the document and what happened to it. The next step from there is a letter of indemnity, which officially requests a replacement. Hopefully, at that point, you'll be able to get a new copy.
An affidavit of loss also comes up for things like home titles or passports.
