What term describes a declaration made before an authorized person, indicating that a signature is a voluntary act?

The term that describes a declaration made before an authorized person, indicating that a signature is a voluntary act, is acknowledgment. This is a legal process where an individual signs a document in the presence of a notary public or other authorized officer, confirming that they signed the document willingly and with an understanding of its contents. Acknowledgment is essential in many legal transactions, including mortgage documents, to ensure authenticity and prevent fraud.

In contrast, amortization refers to the gradual repayment of a loan over time through scheduled payments. Abandonment pertains more to a relinquishment of a right or property and has no bearing on the voluntary nature of a signature. An acceleration clause is a provision in a loan agreement that allows the lender to demand full repayment if certain conditions are met, but it does not relate to the act of signing or the declaration of voluntary consent.