The Texas residential property affidavit T-47 form is a crucial document used in real estate transactions to confirm the ownership and condition of a property. It serves as an affidavit that helps protect buyers and lenders by providing essential information about the property’s status. Understanding this form is vital for anyone involved in Texas real estate; start the process by filling out the form below.
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The Texas residential property affidavit T-47 form plays a crucial role in real estate transactions, particularly in the context of residential properties. This form serves as a declaration by the property owner regarding the status of the property, specifically addressing any changes in ownership or improvements made since the last recorded deed. It provides essential information to title companies and lenders, ensuring that all parties involved have a clear understanding of the property's history and current standing. By affirming the absence of any outstanding liens or encumbrances, the T-47 form helps facilitate a smoother closing process. It is important for homeowners to accurately complete this affidavit, as any discrepancies may lead to complications or delays in the transaction. Understanding the significance of this form can empower property owners and buyers alike, fostering a more transparent and efficient real estate experience in Texas.
T-47 RESIDENTIAL REAL PROPERTY AFFIDAVIT
Date:
GF No.
Name of Affiant(s):
Address of Affiant:
Description of Property:
County
, Texas
Date of Survey: __________________________________
"Title Company" as used herein is the Title Insurance Company whose policy of title insurance is issued in reliance upon the statements contained herein.
Before me, the undersigned notary for the State of
, personally appeared Affiant(s) who after by
me being duly sworn, stated:
1.I am an owner of the Property. (Or state other basis for knowledge by Affiant of the Property, such as lease, management, neighbor, etc. For example, “Affiant is the manager of the Property for the record title owners.”)
2.I am familiar with the property and the improvements located on the Property.
3.I am closing a transaction requiring title insurance and the proposed insured owner or lender has requested area and boundary coverage in the title insurance policy(ies) to be issued in this transaction. I understand that the Title Company may make exceptions to the coverage of the title insurance as Title Company may deem appropriate. I understand that the owner of the property, if the current transaction is a sale, may request a similar amendment to the area and boundary coverage in the Owner’s Policy of Title Insurance upon payment of the promulgated premium.
4.To the best of my actual knowledge and belief, since Date of the Survey, there have been no:
a.construction projects such as new structures, additional buildings, rooms, garages, swimming pools, deckings, or other permanent improvements or fixtures;
b.changes in the location of boundary fences or boundary walls;
c.construction projects on immediately adjoining property(ies) which construction occurred on or near the boundary of the Property;
d.conveyances, replattings, easement grants and/or easement dedications (such as a utility line) by any party affecting the Property.
EXCEPT for the following (If None, Insert “None” Below):
___________________________________________________________________
5.I understand that Title Company is relying on the truthfulness of the statements made in this Affidavit to provide the area and boundary coverage and upon the evidence of the existing real property survey of the Property. This Affidavit is not made for the benefit of any other parties and this Affidavit does not constitute a warranty or guarantee of the location of improvements.
Form T-47
Sec. V
Effective November 1, 2024
6.I understand that I have no liability to Title Company should the information in this Affidavit be incorrect other than information that I personally know to be incorrect and which I do not disclose to the Title Company.
I declare under penalty of perjury that theforegoing is true and correct.
Signed:
__________________________________________
Affiant
_________________________________________
SWORN AND SUBSCRIBED thisday of, 20 .
________________________________________
Notary Public
Completing the Texas residential property affidavit T-47 form is essential for ensuring accurate property records. This process requires attention to detail, as the information provided will be used for official purposes. Follow the steps below to fill out the form correctly.
What is the Texas residential property affidavit T-47 form?
The Texas residential property affidavit T-47 form is a document used in real estate transactions. It serves to confirm certain facts about a property, particularly regarding its ownership and any improvements made to it. This form is often required by lenders during the refinancing process or when a property is sold. By completing the T-47, the property owner affirms that the information provided is accurate and true, which helps to facilitate a smooth transaction.
Who needs to complete the T-47 form?
The T-47 form must be completed by the property owner or the seller of the property. This includes individuals or entities who hold legal title to the property. If the property is being sold or refinanced, the owner must provide this affidavit to assure the lender or buyer that there are no undisclosed issues affecting the property. It is essential for ensuring transparency in real estate transactions.
What information is required on the T-47 form?
The T-47 form requires specific information about the property. This includes the legal description of the property, the name of the current owner, and details about any improvements made to the property. Additionally, the form asks the owner to affirm that there are no outstanding liens or claims against the property. Accurate and complete information is crucial, as any discrepancies could lead to complications in the transaction.
How is the T-47 form submitted?
The completed T-47 form is typically submitted to the title company or lender involved in the transaction. It may be required as part of a larger set of documents during the closing process. Depending on the specific requirements of the lender or title company, the form can often be submitted electronically or in hard copy. Ensure that all signatures are properly executed to avoid delays.
What happens if the T-47 form is not completed?
If the T-47 form is not completed, it can result in significant delays in the closing process. Lenders may refuse to proceed with a loan or refinance without the affidavit, as it provides essential information about the property. Furthermore, failure to submit the form could raise red flags about the property’s ownership or condition, potentially jeopardizing the transaction. It is advisable to complete and submit the T-47 form promptly to avoid any complications.
Filling out the Texas residential property affidavit T-47 form can seem straightforward, but many people make common mistakes that can lead to delays or complications in the property transaction process. Understanding these pitfalls can help ensure that the form is completed accurately and efficiently.
One frequent mistake is failing to provide accurate property descriptions. The T-47 form requires specific details about the property, such as its legal description. Omitting this information or providing incorrect details can create confusion and may lead to issues with title insurance. Always double-check the property description against official documents.
Another common error involves the signature section. Some individuals forget to sign the affidavit or fail to have the necessary witnesses present when signing. This oversight can render the document invalid. Ensure that all required signatures are included and that the signing process adheres to the stipulations outlined in the form.
People often overlook the importance of the date. Failing to date the affidavit can lead to questions about when the information was provided. This detail is crucial for establishing the timeline of the transaction. Always include the date when filling out the form to avoid potential misunderstandings.
Additionally, not providing complete contact information is a mistake that can complicate matters. The T-47 form requires the affiant's contact details, including an address and phone number. This information is essential for any follow-up communication or clarification needed by the title company or other parties involved.
Some individuals may also misinterpret the purpose of the T-47 form. It serves as a declaration regarding the property’s status and any changes made to it. Misunderstanding its intent can lead to incomplete or inaccurate information being provided. Take the time to read the instructions carefully to ensure a clear understanding of what is required.
Lastly, neglecting to keep a copy of the completed form is a mistake that can have repercussions later. After submitting the T-47, it’s wise to retain a copy for personal records. This practice can help in case any questions arise about the affidavit in the future, providing a reference point for all parties involved.
The Texas residential property affidavit T-47 form is an important document used in real estate transactions, particularly in residential property dealings. When engaging in such transactions, several other forms and documents often accompany the T-47 to ensure clarity, legality, and protection for all parties involved. Below is a list of commonly used documents that you may encounter alongside the T-47.
Understanding these documents is essential for anyone involved in a real estate transaction in Texas. Each plays a unique role in protecting the interests of buyers, sellers, and lenders, ensuring a smooth and legally compliant process. Familiarity with these forms can help streamline the transaction and reduce potential misunderstandings.
The Texas residential property affidavit T-47 form serves a specific purpose in real estate transactions. However, several other documents share similarities in function or intent. Here are five such documents:
When filling out the Texas residential property affidavit T-47 form, it is important to follow certain guidelines to ensure accuracy and compliance. Below is a list of things you should and shouldn't do:
The Texas residential property affidavit T-47 form is often misunderstood. Here are seven common misconceptions about this form:
Understanding these misconceptions can help individuals navigate the property transaction process more effectively.
Filling out the Texas residential property affidavit T-47 form requires attention to detail and an understanding of its purpose. Here are some key takeaways: