The Texas residential property affidavit T-47 form is a document used to affirm the ownership and condition of a residential property. This form serves as a crucial tool for buyers and sellers in real estate transactions, ensuring transparency and clarity regarding property details. Understanding its purpose and implications can help streamline the buying or selling process.
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When dealing with the Texas residential property affidavit T-47 form, understanding its purpose and proper usage is essential for both buyers and sellers. Here are some key takeaways to keep in mind:
The Texas residential property affidavit T-47 form is an important document in real estate transactions, particularly when it comes to the transfer of property ownership. Alongside this form, several other documents are often utilized to ensure a smooth and legally sound transaction. Below is a list of these forms, each serving a specific purpose in the process.
Understanding these documents can significantly enhance one's grasp of the real estate transaction process in Texas. Each form plays a crucial role in protecting the interests of the parties involved and ensuring that the transfer of property is conducted fairly and legally.
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Missing Signatures: One common mistake is forgetting to sign the affidavit. All parties involved must provide their signatures to validate the document.
Incorrect Property Description: Failing to accurately describe the property can lead to confusion. Ensure that the legal description matches what is recorded with the county.
Omitting Required Information: Some individuals overlook filling in all necessary fields. Double-check the form for completeness before submission.
Using Outdated Forms: Using an old version of the T-47 form can cause issues. Always download the most current version from a reliable source.
Not Notarizing the Document: The T-47 form typically requires notarization. Skipping this step can render the affidavit invalid.
Incorrectly Identifying the Affiant: Make sure the person signing the affidavit is the correct individual. Misidentifying the affiant can lead to legal complications.
Failing to Review for Errors: Rushing through the form often results in typos or inaccuracies. Take the time to review the completed document carefully.
Not Keeping Copies: After submitting the affidavit, it’s important to keep a copy for your records. This ensures you have documentation of what was submitted.
Ignoring Submission Guidelines: Each county may have specific submission requirements. Be sure to follow the guidelines for your local jurisdiction.
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