Make My Texas residential property affidavit T-47 Online

Fill Out Your Texas residential property affidavit T-47 Form

The Texas residential property affidavit T-47 form is a legal document used to provide information about the ownership and condition of a residential property. This form is often required during real estate transactions to clarify the status of the property and ensure all parties have accurate information. By completing the T-47, homeowners can affirm details about their property, which can help facilitate a smoother transaction process.

Form Sample

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

Misconceptions

The Texas residential property affidavit T-47 form is often misunderstood. Below are nine common misconceptions regarding this important document.

The T-47 form is only for sellers. Many believe that only sellers need to complete the T-47 form. In reality, both buyers and sellers may need to provide this affidavit during a property transaction.
The T-47 form is optional. Some people think that the T-47 form is merely a suggestion. However, it is often required by title companies to ensure a clear title transfer, making it a crucial part of the closing process.
The T-47 form guarantees a clear title. While the T-47 form helps in affirming certain facts about the property, it does not guarantee that the title is free of defects. Title insurance is still necessary for comprehensive protection.
The T-47 form can be submitted at any time. Many assume that they can submit the T-47 form whenever they choose. In fact, it must be submitted before or at the time of closing to be effective.
The information on the T-47 form is confidential. Some believe that the details provided in the T-47 form are private. However, this information may be accessible to parties involved in the transaction and can be reviewed by title companies.
The T-47 form only applies to residential properties. While primarily used for residential transactions, the T-47 form can also be relevant in certain commercial property deals, depending on the circumstances.
You can fill out the T-47 form without legal assistance. Although it is possible to complete the T-47 form independently, consulting with a legal professional can help ensure that all information is accurate and that the form is properly executed.
The T-47 form is the same as a property survey. Some people confuse the T-47 form with a property survey. The T-47 is an affidavit, while a survey provides a detailed layout of the property, including boundaries and structures.
The T-47 form is only needed for cash transactions. There is a misconception that the T-47 form is only necessary when cash is involved. In truth, it is often required for all types of transactions, including those involving financing.

Understanding these misconceptions can help ensure a smoother property transaction process in Texas. Always consider seeking professional guidance when dealing with legal documents.

Key takeaways

The Texas residential property affidavit T-47 form is an important document for property transactions. Understanding its purpose and requirements can streamline the process. Here are key takeaways regarding this form:

Purpose of the Form: The T-47 form serves to confirm the ownership and details of a residential property.
Who Should Use It: Homeowners, sellers, and buyers involved in residential real estate transactions should consider using the T-47 form.
Filling Out the Form: Accurate completion is essential. All sections must be filled out with correct information regarding the property.
Signature Requirement: The form must be signed by the property owner, verifying the information provided is true and correct.
Notarization: A notary public must witness the signing of the T-47 form to validate it legally.
Submission: The completed form should be submitted to the title company or relevant authority involved in the property transaction.
Common Uses: The T-47 form is often used to support title insurance applications and to clarify property boundaries.
Legal Implications: Providing false information on the T-47 form can lead to legal consequences, including potential fraud charges.
Record Keeping: It is advisable to keep a copy of the completed T-47 form for personal records and future reference.
Consultation Recommended: Consulting with a real estate attorney or a title professional can provide additional clarity and guidance.

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