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The Texas residential property affidavit T-47 form plays a crucial role in real estate transactions within the state, particularly when it comes to clarifying property ownership and boundaries. This form is primarily utilized during the closing process of a residential property sale, ensuring that both buyers and sellers have a clear understanding of the property’s status. It serves to affirm that the seller holds legal title to the property and that there have been no significant changes affecting the property since the last recorded deed. Furthermore, the T-47 form addresses any potential encroachments or easements, providing peace of mind to the buyer regarding the property’s physical characteristics. By completing this affidavit, sellers confirm their knowledge of the property’s condition and any existing liens or claims, which can significantly influence the transaction. Understanding the importance of the T-47 form can help both parties navigate the complexities of property transfers with greater confidence and clarity.
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
Common mistakes
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Incomplete Information: Many individuals fail to provide all necessary details. Omitting information such as the property address or the owner's name can lead to delays or rejection of the affidavit.
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Incorrect Property Description: Providing an inaccurate legal description of the property can cause confusion. Ensure that the property description matches what is recorded in public records.
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Failure to Sign: Some people forget to sign the affidavit. Without a signature, the document is considered invalid and cannot be processed.
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Not Notarizing the Document: The affidavit must be notarized to be legally binding. Neglecting this step can render the affidavit unenforceable.
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Providing Outdated Information: Using old or outdated information can lead to discrepancies. Always ensure that the information is current and accurate.
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Ignoring Additional Requirements: Some properties may have specific requirements or additional documentation needed. Failing to include these can result in complications.
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Not Reviewing for Errors: Typos or minor errors can undermine the credibility of the affidavit. A thorough review before submission is essential.
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Submitting to the Wrong Authority: It is crucial to submit the affidavit to the correct local authority. Sending it to the wrong office can delay processing.
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Dos and Don'ts
When filling out the Texas residential property affidavit T-47 form, it is important to follow certain guidelines to ensure accuracy and compliance. Below is a list of things you should and shouldn't do:
- Do read the instructions carefully before starting the form.
- Do provide accurate and complete information to avoid delays.
- Do sign and date the affidavit where indicated.
- Do double-check all entries for any possible errors.
- Don't leave any required fields blank.
- Don't use correction fluid or tape on the form.
- Don't submit the form without ensuring all necessary documents are attached.
Misconceptions
The Texas residential property affidavit T-47 form often comes with several misconceptions that can lead to confusion for homeowners and real estate professionals alike. Here are five common misunderstandings:
- It is only for new homeowners. Many believe that the T-47 form is exclusively for individuals purchasing a home for the first time. In reality, this affidavit can be used by any property owner who needs to clarify the property’s boundaries or address issues related to title insurance.
- It is a mandatory form for all real estate transactions. While the T-47 form is commonly used, it is not required for every transaction. Its necessity depends on the specific circumstances of the property and the requirements set by the title company involved.
- Completing the T-47 form guarantees title insurance coverage. Some people mistakenly think that submitting this affidavit automatically ensures that title insurance will be issued. However, the form is just one part of the process, and title insurance companies will still conduct their own due diligence before providing coverage.
- The T-47 form can be filled out by anyone. There is a misconception that anyone can complete the T-47 form without proper guidance. However, it is important that the affidavit is filled out accurately to avoid legal issues. Consulting with a real estate professional or attorney is advisable.
- It can be submitted at any time during the transaction. Many assume that the T-47 form can be completed and submitted at their convenience. In fact, it should be filled out and submitted at specific points in the transaction process, typically before closing, to ensure it serves its intended purpose.
Understanding these misconceptions can help streamline the process of buying or selling property in Texas and ensure that all parties involved are well-informed.
Detailed Guide for Using Texas residential property affidavit T-47
Completing the Texas residential property affidavit T-47 form is a straightforward process. This form is essential for property transactions and must be filled out accurately to ensure compliance with state requirements. After filling out the form, it will need to be submitted to the appropriate authorities, typically during the closing process of a real estate transaction.
- Begin by downloading the T-47 form from the official Texas real estate website or obtain a physical copy from a real estate office.
- Enter the property address in the designated section. Ensure that the address is complete, including the street number, street name, city, and ZIP code.
- Provide the name of the current owner(s) of the property. This should match the name(s) on the property deed.
- Fill in the date of the affidavit. Use the format MM/DD/YYYY for clarity.
- Indicate the type of ownership. This could be sole ownership, joint tenancy, or another form of ownership. Make sure to check the correct box or fill in the blank as required.
- In the next section, describe any improvements made to the property since the last transfer. Be specific about the nature of these improvements.
- Sign and date the affidavit at the bottom. This signature must be from the property owner or authorized representative.
- Have the affidavit notarized. This step is crucial, as a notary public must witness the signature to validate the document.
- Make copies of the completed and notarized affidavit for your records before submission.
- Submit the original affidavit to the title company or the relevant authority as part of the property transaction process.