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The Texas residential property affidavit T-47 form plays a crucial role in real estate transactions, particularly when it comes to clarifying the status of property ownership and ensuring a smooth transfer of title. This form is typically used by sellers to provide information about the property, including any improvements made, boundary lines, and the absence of certain encumbrances. It serves as a declaration of facts that can help potential buyers understand the property’s history and current condition. Importantly, the T-47 form also addresses the legal aspects of ownership, affirming that the seller has the right to convey the property and that there are no undisclosed liens or claims against it. By completing this affidavit, sellers not only protect themselves from future disputes but also instill confidence in buyers, making it a vital component of the closing process. Understanding the nuances of the T-47 form can help both parties navigate the complexities of real estate transactions in Texas more effectively.
Dos and Don'ts
When filling out the Texas residential property affidavit T-47 form, it is crucial to follow specific guidelines to ensure accuracy and compliance. Here are ten essential dos and don’ts:
- Do read the instructions carefully before starting.
- Do provide accurate and complete information.
- Do double-check your entries for typos or errors.
- Do sign and date the form where required.
- Do keep a copy of the completed form for your records.
- Don't leave any sections blank unless specified.
- Don't use white-out or erase any information.
- Don't submit the form without reviewing it thoroughly.
- Don't forget to include any required attachments.
- Don't assume the information is correct without verification.
Following these guidelines will help streamline the process and reduce the risk of delays or complications.
Document Attributes
| Fact Name | Description |
|---|---|
| Purpose | The Texas residential property affidavit T-47 form is used to confirm the ownership of property and to disclose any liens or encumbrances on the property. |
| Governing Law | This form is governed by Texas Property Code Section 12.001 and related statutes. |
| Usage | It is typically required during the closing process of a real estate transaction in Texas. |
| Signature Requirement | The form must be signed by the property owner and may require notarization to be legally binding. |
Key takeaways
The Texas residential property affidavit T-47 form is an important document for property owners and buyers. Understanding its purpose and requirements can streamline the process of property transactions. Here are some key takeaways:
- The T-47 form serves as an affidavit of facts related to the property, confirming the current ownership and condition.
- It is typically used in conjunction with a title insurance policy to provide assurance to buyers and lenders.
- Filling out the form requires accurate information about the property, including its legal description and current use.
- Both the seller and buyer must review the affidavit to ensure all details are correct before signing.
- The form must be notarized, which adds a layer of authenticity to the information provided.
- It is essential to submit the T-47 form promptly to avoid delays in the closing process.
- Failure to complete the form accurately may result in issues with title insurance coverage.
- Always keep a copy of the completed T-47 form for your records after submission.
- Consulting with a real estate professional can help clarify any uncertainties regarding the form.
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Example - Texas residential property affidavit T-47 Form
(MAY BE MODIFIED AS APPROPRIATE FOR COMMERCIAL TRANSACTIONS)
Date:___________________________________ GF No.___________________________________
Name of Affiant(s):__________________________________________________________________
Address of Affiant:___________________________________________________________________
Description of Property:_______________________________________________________________
County__________________________________ , Texas
"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 sworn, stated:
1.We are the owners of the Property. (Or state other basis for knowledge by Affiant(s) of the Property, such as lease, management, neighbor, etc. For example, “Affiant is the manager of the Property for the record title owners.”)
2.We are familiar with the property and the improvements located on the Property.
3.We are 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. We understand that the Title Company may make exceptions to the coverage of the title insurance as Title Company may deem appropriate. We 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 our actual knowledge and belief, since _______________________________ there have been no:
a.construction projects such as new structures, additional buildings, rooms, garages, swimming pools 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 encroach on 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.We 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.
6.We understand that we have no liability to Title Company that will issue the policy(ies) should the
information in this Affidavit be incorrect other than information that we personally know to be incorrect and which we do not disclose to the Title Company.
_________________________________________
_________________________________________
SWORN AND SUBSCRIBED this ______ day of __________________, 20_______.
_______________________________________
Notary Public
Detailed Instructions for Writing Texas residential property affidavit T-47
Completing the Texas residential property affidavit T-47 form is a straightforward process that requires attention to detail. After filling out the form, it will need to be submitted to the appropriate authority, typically as part of a real estate transaction. Ensuring accuracy is crucial, as any errors may lead to delays or complications.
- Begin by downloading the T-47 form from the Texas Real Estate Commission website or obtaining a physical copy from your real estate agent.
- In the top section, fill in your name and contact information as the affiant. This should include your full legal name, address, and phone number.
- Next, provide the property address for which the affidavit is being completed. Include the street address, city, state, and zip code.
- In the designated area, indicate whether you are the owner of the property or if you have another capacity in relation to it.
- Complete the section regarding any liens or encumbrances on the property. Be honest and thorough in your disclosures.
- Sign and date the form at the bottom. Make sure to sign in the presence of a notary public.
- Once notarized, make copies of the completed form for your records and for submission.
- Submit the original notarized form to the appropriate authority as part of your real estate transaction.
Documents used along the form
The Texas residential property affidavit T-47 form is often used in real estate transactions to clarify property ownership and the status of the property. Along with this form, several other documents may be needed to ensure a smooth process. Here’s a list of common forms and documents that are frequently used alongside the T-47.
- Deed: This legal document transfers ownership of the property from one party to another. It includes details about the buyer, seller, and the property itself.
- Title Commitment: This document outlines the terms under which a title insurance policy will be issued. It provides information about the property’s title history and any existing liens or claims.
- Affidavit of Correction: This form is crucial for correcting inaccuracies in public records, such as those that might arise during property transactions. Individuals can utilize resources like Texas Forms Online to access templates and guidance for filing.
- Property Survey: A property survey shows the boundaries of the property and any structures on it. This helps to identify any encroachments or easements that may affect ownership.
- Closing Disclosure: This form provides a detailed account of the final terms of the loan, including the costs associated with the purchase. It ensures that both parties understand their financial obligations.
- Loan Application: This document is completed by the buyer to apply for a mortgage. It includes financial information that lenders use to assess the buyer’s creditworthiness.
- Homeowners Association (HOA) Documents: If the property is part of an HOA, these documents outline the rules, regulations, and fees associated with the community.
- Property Disclosure Statement: This form provides information about the condition of the property. Sellers are required to disclose any known issues that could affect the buyer's decision.
- Warranty Deed: A warranty deed guarantees that the seller has clear title to the property and the right to sell it. It offers protection to the buyer against any future claims on the property.
Having these documents ready can help facilitate a smoother real estate transaction. Each plays a vital role in ensuring that all parties understand their rights and responsibilities regarding the property in question.