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Fill Your Texas residential property affidavit T-47 Form

The Texas residential property affidavit T-47 form is a document used to affirm the ownership and details of a residential property. This form serves to clarify any discrepancies regarding property boundaries and ownership, ensuring that all parties have a clear understanding of the property in question. Properly completing the T-47 is essential for a smooth real estate transaction in Texas.

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Fill Your Texas residential property affidavit T-47 Form

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The Texas residential property affidavit T-47 form plays a crucial role in real estate transactions within the state. This form serves as a declaration by the property owner regarding the current state of the property, particularly in relation to its boundaries and any potential encroachments. It is often required by title companies to ensure that all parties involved have a clear understanding of the property’s physical characteristics and legal status. By providing information about the property’s use, any existing improvements, and the owner's knowledge of any adverse claims, the T-47 helps to facilitate a smoother closing process. Additionally, this affidavit can protect buyers by ensuring that they are informed about any potential issues that could affect their ownership rights. Understanding the importance of the T-47 form is essential for both buyers and sellers, as it not only aids in preventing disputes but also promotes transparency in the transaction process.

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Common Questions

What is the Texas residential property affidavit T-47 form?

The T-47 form is a legal document used in Texas that provides a sworn statement about the ownership and condition of a residential property. This affidavit is often required during real estate transactions, especially when a buyer is seeking title insurance. It helps clarify the property's status and can assist in avoiding disputes regarding property boundaries or improvements made to the property.

Who needs to complete the T-47 form?

What information is required on the T-47 form?

How is the T-47 form submitted?

What happens if the T-47 form is not completed?

Preview - Texas residential property affidavit T-47 Form

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

Similar forms

The Texas residential property affidavit T-47 form serves a unique purpose, but it shares similarities with several other documents in real estate transactions. Below is a list of eight documents that are comparable to the T-47 form, along with a brief explanation of how they relate:

Affidavit of Heirship: This document is used to establish the heirs of a deceased property owner. Like the T-47, it affirms ownership and provides clarity regarding property rights.
Warranty Deed: This legal document guarantees that the seller has clear title to the property and can transfer it. Similar to the T-47, it confirms ownership and outlines any encumbrances.
Quitclaim Deed: This form transfers whatever interest the grantor has in the property without warranties. It is akin to the T-47 in that it provides a declaration of ownership, though it offers less protection.
Title Insurance Policy: This document protects against losses from defects in title. It shares the T-47’s focus on confirming ownership and ensuring the buyer's rights are protected.
Property Disclosure Statement: This statement requires sellers to disclose known issues with the property. Like the T-47, it aims to provide transparency and protect the interests of both parties.
Lease Agreement: This contract outlines the terms of renting a property. While it serves a different purpose, it similarly establishes rights and responsibilities related to property ownership.
Bill of Sale: This document transfers ownership of personal property. It parallels the T-47 in that it serves as proof of ownership and the transfer of rights.
Indiana Mobile Home Bill of Sale: This document facilitates the transfer of ownership of a mobile home and is essential for buyers and sellers. For more details, you can visit mobilehomebillofsale.com/blank-indiana-mobile-home-bill-of-sale.
Real Estate Purchase Agreement: This contract details the terms of a property sale. It aligns with the T-47 by confirming the buyer's intent to acquire ownership and outlining the conditions of the sale.

Understanding these documents can help ensure that all parties involved in a real estate transaction are aware of their rights and responsibilities. Each document plays a crucial role in protecting ownership interests and facilitating smooth transactions.

Misconceptions

The Texas residential property affidavit T-47 form is often surrounded by misconceptions that can lead to confusion among homeowners and buyers. Here are nine common misunderstandings regarding this important document:

The T-47 form is only for sellers. Many believe that only sellers need to complete this form. In reality, both buyers and sellers may need to use it during the transaction process.
The T-47 form is optional. Some think that filling out the T-47 is merely a suggestion. However, it is a required document for certain transactions, especially when title insurance is involved.
The T-47 form is the same as a survey. While both documents relate to property boundaries, the T-47 is an affidavit that confirms the property's condition and not a survey itself.
The T-47 form does not need to be notarized. A common misconception is that notarization is unnecessary. In fact, the T-47 must be signed in front of a notary public to be valid.
The T-47 form can be completed after closing. Some individuals believe they can fill out the T-47 after the transaction is finalized. This is incorrect; it should be completed prior to closing.
The T-47 form is only relevant for residential properties. While primarily used for residential transactions, the T-47 can also be applicable in certain commercial property situations.
The T-47 form guarantees clear title. It is a common belief that submitting a T-47 ensures a clear title. However, it merely affirms the seller’s knowledge of the property and does not guarantee title insurance coverage.
The T-47 form can be filled out by anyone. Some think that any party involved can complete the T-47. However, it must be filled out by the property owner or their authorized representative.
The T-47 form is a lengthy and complicated document. Many fear that the T-47 is overly complex. In reality, it is a straightforward affidavit that can be completed with basic property information.

Understanding these misconceptions can help individuals navigate the real estate process more effectively and ensure compliance with necessary documentation.

File Attributes

Fact Name	Description
Purpose	The T-47 form is used to provide an affidavit of property ownership in Texas residential transactions.
Governing Law	This form is governed by the Texas Property Code, specifically Chapter 12 regarding property ownership and transfer.
Who Uses It	Homeowners, sellers, and title companies typically use the T-47 form during real estate transactions.
Verification of Ownership	The affidavit helps verify the ownership of the property, ensuring that the seller has the legal right to sell.
Notarization Requirement	The T-47 form must be notarized to confirm the identity of the signer and the authenticity of the document.
Filing Process	Once completed, the T-47 form should be filed with the county clerk's office where the property is located.
Importance in Title Insurance	Title companies often require the T-47 form to issue title insurance, protecting buyers from potential ownership disputes.