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Texas residential property affidavit T-47 Preview
(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
Documents used along the form
When dealing with real estate transactions in Texas, several documents often accompany the Texas residential property affidavit T-47 form. These documents serve various purposes and are essential for ensuring a smooth transaction process. Below is a brief overview of some commonly used forms that may be relevant.
- Property Deed: This document officially transfers ownership of the property from the seller to the buyer. It includes details about the property and the parties involved, ensuring that the transaction is legally binding.
- Title Commitment: Issued by a title company, this document outlines the terms under which the title will be insured. It provides information about any liens, easements, or other issues that may affect the property’s title.
- Motor Vehicle Bill of Sale: This form is essential for documenting the sale of a vehicle, serving as proof of purchase and detail of the sale terms; for more information, read here.
- Closing Disclosure: This form provides a detailed account of all closing costs associated with the transaction. It breaks down the financial aspects, ensuring that both parties understand their obligations before finalizing the sale.
- Survey: A property survey outlines the exact boundaries and dimensions of the property. It can reveal any encroachments or disputes with neighboring properties, which is crucial for both buyers and sellers.
Understanding these documents can help you navigate the complexities of real estate transactions more effectively. Each form plays a vital role in protecting your interests and ensuring compliance with Texas law.
Similar forms
- Affidavit of Heirship: Similar to the T-47, this document establishes the rightful heirs to a property after the owner’s death, confirming ownership without a formal probate process.
- Property Deed: This document transfers ownership of real estate. Like the T-47, it provides evidence of ownership but is focused on the transfer rather than the affidavit of facts.
- Title Commitment: This document outlines the terms under which a title company will insure a property. It shares the T-47's purpose of clarifying ownership and rights associated with the property.
- Quitclaim Deed: This form transfers any interest the grantor has in a property without warranties. It is similar to the T-47 in that it conveys ownership but does not guarantee clear title.
- Durable Power of Attorney - This essential legal document allows an individual to designate someone to make decisions on their behalf, especially concerning financial and health matters, even when they cannot communicate their wishes. For more information, visit the Durable Power of Attorney page.
- Warranty Deed: This document guarantees that the grantor holds clear title to a property and has the right to sell it. It is akin to the T-47 in affirming ownership but includes additional assurances.
- Real Estate Purchase Agreement: This contract outlines the terms of a property sale. Like the T-47, it addresses ownership but focuses on the sale process rather than an affidavit of facts.
Misconceptions
The Texas residential property affidavit T-47 form is an important document in real estate transactions, yet several misconceptions surround it. Understanding these misconceptions can help clarify its purpose and use.
- Misconception 1: The T-47 form is only for new properties.
- Misconception 2: The T-47 form is mandatory for all real estate transactions.
- Misconception 3: Completing the T-47 form guarantees a clear title.
- Misconception 4: The T-47 form can be filled out by anyone.
- Misconception 5: The T-47 form is the same as a survey.
- Misconception 6: The T-47 form is only relevant in Texas.
- Misconception 7: The T-47 form must be notarized to be valid.
- Misconception 8: The T-47 form can be submitted at any time during the transaction.
This is not true. The T-47 form can be used for both new and existing properties. It serves to confirm property boundaries and the absence of any encroachments, regardless of the property's age.
While the T-47 is often required by lenders, it is not universally mandatory. Some transactions may not necessitate this affidavit, depending on the specific circumstances and agreements between the parties involved.
Filling out the T-47 does not guarantee a clear title. The form primarily addresses boundary issues and encroachments, but it does not replace a title search or title insurance.
This is misleading. The T-47 form should be completed by the property owner or an authorized representative. It requires accurate information about the property that only the owner or their agent can provide.
The T-47 is not a survey. While it may reference survey information, it is an affidavit that affirms specific facts about the property, such as boundaries and encroachments. A survey is a separate document that provides detailed measurements and features of the property.
Although the T-47 form is specific to Texas, similar forms exist in other states. Each state has its own regulations and requirements regarding property affidavits, so it is essential to understand local laws.
While notarization is often recommended for the T-47 to enhance its credibility, it is not a strict requirement for the form to be valid. However, having it notarized can help avoid disputes in the future.
Timing matters. The T-47 should be submitted at the appropriate stage of the transaction, typically before closing. Delaying its submission can lead to complications in the sale process.
Understanding Texas residential property affidavit T-47
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What is the Texas residential property affidavit T-47 form?
The T-47 form is a document used in Texas real estate transactions. It serves as an affidavit that provides information about the property and its ownership. This form is often required by title companies to confirm certain details about the property, particularly when a title policy is being issued.
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Who needs to complete the T-47 form?
Typically, the T-47 form must be completed by the property owner or the seller. If the property is being sold, the seller will need to provide this affidavit to the title company. In some cases, a lender may also request the form as part of the loan process.
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What information is required on the T-47 form?
The T-47 form asks for various details about the property, including:
- The legal description of the property
- The current owner’s name
- Any existing liens or encumbrances
- Information about the property’s use and any improvements made
Providing accurate information is crucial, as it helps prevent future disputes regarding ownership or property rights.
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Is the T-47 form required for all real estate transactions in Texas?
No, the T-47 form is not required for every transaction. It is typically necessary when a title insurance policy is being issued. However, certain circumstances or lender requirements may also necessitate its completion. Always check with the title company or real estate professional to determine if it is needed.
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How is the T-47 form submitted?
The completed T-47 form should be submitted to the title company handling the transaction. This can often be done electronically, but some situations may require a physical copy. Ensure that all required signatures are present before submission to avoid delays.
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What happens if the information on the T-47 form is incorrect?
If inaccuracies are discovered after the T-47 form has been submitted, it is essential to address them promptly. Incorrect information can lead to legal issues or complications with the title insurance. It may be necessary to amend the form or provide additional documentation to clarify the discrepancies.
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Can the T-47 form be used for commercial properties?
The T-47 form is specifically designed for residential properties. For commercial properties, different forms and affidavits may be required. Always consult with a real estate professional or legal advisor to ensure compliance with the appropriate documentation for commercial transactions.