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The Texas residential property affidavit T-47 form plays a crucial role in real estate transactions, especially for homeowners and buyers in Texas. This form is often used to confirm the status of property ownership and to provide essential details about the property in question. It serves as a declaration, affirming that the property has not undergone significant changes that would affect its value or ownership since the last recorded deed. By filling out the T-47, sellers can reassure buyers and lenders about the property's condition and history. The form also includes information about any easements or restrictions that may apply to the property, ensuring transparency in the sale process. Completing the T-47 accurately is vital, as it can impact the transaction's success and help avoid potential disputes down the line. Understanding the nuances of this affidavit can empower both buyers and sellers, making the real estate journey smoother and more informed.
Documents used along the form
The Texas residential property affidavit T-47 form is an important document used in real estate transactions, particularly when dealing with title insurance. It helps clarify the ownership and condition of the property. Along with this form, several other documents are commonly used to ensure a smooth transaction. Here’s a list of five such documents:
- Deed: This legal document transfers ownership of the property from one party to another. It outlines the details of the transaction and is recorded in the county where the property is located.
- Title Commitment: This document provides a preliminary report on the title of the property. It outlines any liens, encumbrances, or issues that may affect ownership, giving buyers a clear picture of what they are acquiring.
- Property Survey: A survey shows the exact boundaries of the property, including any structures or easements. It is crucial for determining property lines and ensuring that the buyer knows what they are purchasing.
- Boat Bill of Sale: This form is crucial for documenting the transfer of ownership of a boat, including essential details such as buyer and seller information, boat specifications, and the sale price. For more information, you can check the California PDF Forms.
- Closing Disclosure: This document details the final terms of the mortgage, including loan costs and other fees. It ensures that all parties are aware of the financial aspects before closing the transaction.
- Homeowners Association (HOA) Documents: If the property is part of an HOA, these documents outline the rules, regulations, and fees associated with the community. They help buyers understand their responsibilities as homeowners.
These documents work together to provide clarity and security in real estate transactions. Ensuring that you have all the necessary forms can make the process smoother and help avoid any potential issues down the road.
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Texas residential property affidavit T-47 Example
(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
FAQ
What is the Texas residential property affidavit T-47 form?
The Texas residential property affidavit T-47 form is a legal document used in real estate transactions. It serves as a declaration by the seller regarding the property’s ownership and any existing liens or encumbrances. This form is typically required by lenders to ensure they have accurate information about the property being financed. By completing this affidavit, the seller confirms that they are the rightful owner and provides details that may affect the title of the property.
Who needs to complete the T-47 form?
The T-47 form is generally completed by the seller of a residential property. If you are selling your home or any residential real estate, you will likely need to fill out this affidavit as part of the closing process. Additionally, it may be required by the title company or lender involved in the transaction. It’s important to ensure that the information provided is accurate and truthful, as any discrepancies could lead to legal complications.
What information is included in the T-47 form?
The T-47 form requires several key pieces of information, including:
- Property Description: A detailed description of the property being sold, including its address and legal description.
- Ownership Details: Information about the current owner(s), including how the property was acquired.
- Liens and Encumbrances: A declaration regarding any existing liens or other claims against the property.
- Affirmation of Truthfulness: A statement affirming that the information provided is true and accurate to the best of the seller's knowledge.
This information helps protect both the buyer and the lender by clarifying the ownership status and any potential issues that may arise during the sale.
How is the T-47 form submitted?
Once completed, the T-47 form must be submitted to the title company handling the real estate transaction. Typically, this is done during the closing process. The title company will review the affidavit alongside other documents to ensure everything is in order. It’s advisable to keep a copy of the completed form for your records. If you have any questions or concerns about the submission process, reaching out to your real estate agent or attorney can provide further guidance.
Key takeaways
When filling out and using the Texas residential property affidavit T-47 form, consider the following key takeaways:
- The T-47 form is primarily used to confirm the ownership of a residential property in Texas.
- It is important to provide accurate and complete information to avoid delays in processing.
- Signature and notarization are required to validate the affidavit.
- Make sure to include the property's legal description, which can typically be found on the deed.
- Submit the completed form to the appropriate county clerk's office for recording.
- Keep a copy of the filed affidavit for your records, as it serves as proof of ownership.
- Consult with a real estate professional or attorney if you have questions about the form or its implications.
Form Characteristics
| Fact Name | Description |
|---|---|
| Purpose | The Texas residential property affidavit T-47 form is used to provide a sworn statement regarding the property’s ownership and any existing liens. |
| Governing Law | This form is governed by the Texas Property Code, specifically sections related to property transactions and disclosures. |
| Who Uses It | Typically, sellers and buyers of residential properties in Texas utilize the T-47 form during real estate transactions. |
| Filing Requirements | The T-47 form must be signed in front of a notary public to ensure its validity and to confirm the identity of the signer. |
| Importance | Completing the T-47 form helps to clarify ownership issues and can protect against future claims on the property. |