The Texas residential property affidavit T-47 form is a document used to affirm the status of a residential property in Texas, primarily for the purpose of title insurance. This form helps clarify ownership and any existing liens or encumbrances on the property. Understanding its importance can streamline real estate transactions and protect the interests of all parties involved.
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When filling out the Texas residential property affidavit T-47 form, it is essential to follow certain guidelines to ensure accuracy and compliance. Below is a list of things to do and avoid.
By adhering to these guidelines, you can ensure that the T-47 form is completed correctly and efficiently.
T-47 RESIDENTIAL REAL PROPERTY AFFIDAVIT
(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
If a Real Estate Brokerage Is Organized as a Business Entity, It Must Be Licensed as - Application filing is governed by the Texas Real Estate Commission's specific guidelines and requirements.
Real Estate Documents - The agreement includes a section for special provisions where relevant additional terms may be entered.
The Texas residential property affidavit T-47 form is often used in real estate transactions to clarify property ownership and related matters. Several other documents frequently accompany this form to ensure a smooth process. Below is a list of these documents, each serving a specific purpose in the transaction.
Each of these documents plays a vital role in the real estate transaction process. Ensuring that all necessary forms are completed accurately will help facilitate a successful closing.
Filling out the Texas residential property affidavit T-47 form can be straightforward, but several common mistakes can lead to delays or complications. One frequent error is failing to provide accurate property descriptions. The property address must be complete, including street number, street name, city, and zip code. Omitting any part of this information can create confusion and hinder the processing of the affidavit.
Another common mistake is neglecting to sign the affidavit. The form requires the signature of the affiant, who is typically the property owner or an authorized representative. Without a signature, the document is incomplete and cannot be accepted by the county clerk or any other relevant authority.
People often forget to include the date of signing. The affidavit must be dated to establish when the document was executed. An undated form can raise questions about its validity and may lead to complications in the property transaction process.
Providing incorrect or outdated information about the property can also be problematic. For instance, if the ownership has changed since the last recorded affidavit, it is essential to update the details. Failure to do so can result in legal issues, especially if disputes arise regarding ownership.
Some individuals may overlook the requirement for notarization. The T-47 form must be notarized to be legally binding. Skipping this step can render the affidavit invalid, causing delays in property transactions or title transfers.
Inaccurate representations regarding the property’s use can lead to misunderstandings. For example, indicating that the property is a primary residence when it is not can have tax implications. It is crucial to provide truthful and precise information about how the property is utilized.
Another mistake is not checking for consistency with other documents. The information on the T-47 form should align with other legal documents, such as the deed or title. Discrepancies can raise red flags and complicate the verification process.
Finally, many people fail to keep a copy of the completed form for their records. Retaining a copy is important for future reference and can be helpful if any questions or issues arise regarding the affidavit. Keeping organized records can save time and effort down the line.
The Texas residential property affidavit T-47 form is often misunderstood. Below are some common misconceptions along with clarifications to provide a clearer understanding of this important document.
Understanding these misconceptions can help individuals navigate the complexities of residential property transactions in Texas more effectively.
Filling out the Texas residential property affidavit T-47 form is an important step for property owners. Here are some key takeaways to keep in mind:
Completing the T-47 form correctly can help streamline the title insurance process and protect your property interests.
Completing the Texas residential property affidavit T-47 form is an important step in managing your property records. This form is essential for various transactions related to residential property. By following the steps outlined below, you can ensure that your affidavit is filled out correctly and submitted without any issues.
After filling out the form, it’s essential to keep a copy for your records. This will serve as proof of your submission and can be useful for future reference. If you have any questions about the process, consider reaching out to a local real estate professional for assistance.