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Misconceptions

The Texas residential property affidavit T-47 form often generates confusion. Below are nine common misconceptions about this form, along with clarifications to help you understand its purpose and function.

  • The T-47 form is only for sellers. This is not true. While sellers often complete the form, buyers may also need it to confirm property details.
  • The T-47 is a legally binding contract. In reality, the T-47 is an affidavit, which is a sworn statement. It provides information but does not constitute a contract.
  • You only need to fill out the T-47 once. This is misleading. If there are changes to the property or ownership, a new T-47 may be necessary.
  • The T-47 can be submitted without a notary. This is incorrect. The affidavit must be notarized to be valid.
  • Filling out the T-47 guarantees clear title. Not necessarily. While it helps clarify property details, it does not guarantee that there are no liens or claims against the property.
  • The T-47 is only relevant in certain counties. This form is applicable statewide in Texas, making it important for all residential property transactions.
  • All real estate transactions require a T-47 form. Not all do. The need for a T-47 depends on specific circumstances, such as the type of transaction and lender requirements.
  • The T-47 form is complicated and hard to understand. While it may seem daunting, the form is straightforward. Most homeowners can complete it with basic information.
  • Once submitted, the T-47 cannot be changed. This is false. If errors are found after submission, a corrected affidavit can be filed.

Understanding these misconceptions can help ensure that you navigate the property transaction process more smoothly. Always consult with a real estate professional if you have questions about the T-47 form or your specific situation.

File Details

Fact Name Details
Purpose The T-47 form is used in Texas to provide an affidavit regarding the ownership and condition of residential property.
Governing Law The form is governed by Texas Property Code Section 12.001 and the Texas Real Estate Commission (TREC) guidelines.
Who Uses It Homeowners, buyers, and lenders commonly use the T-47 form during real estate transactions.
Affidavit Requirements The affidavit must be signed by the property owner, confirming their ownership and the absence of certain encumbrances.
Common Uses This form is often required for title insurance purposes and helps clarify property boundaries.
Submission The completed T-47 form must be submitted to the title company or lender involved in the transaction.
Deadline It is generally recommended to submit the T-47 form as early as possible in the closing process.
Notarization The affidavit typically requires notarization to verify the identity of the signer.
Impact on Title Insurance Providing a T-47 form can affect the terms and conditions of title insurance coverage.
Updates The form may need to be updated if there are changes in property ownership or condition prior to closing.

Key takeaways

The Texas residential property affidavit T-47 form is an important document for homeowners and buyers alike. Here are some key takeaways to keep in mind when filling it out and using it:

  • Purpose of the Form: The T-47 form serves to provide a sworn statement regarding the property’s boundaries and any improvements made to the property.
  • Who Needs It: This form is typically required when obtaining title insurance or during real estate transactions.
  • Accuracy is Key: Ensure that all information provided is accurate. Inaccuracies can lead to delays or complications in the transaction process.
  • Signature Requirement: The affidavit must be signed in the presence of a notary public to be considered valid.
  • Property Description: Include a clear and complete description of the property, including any specific features or structures.
  • Review Before Submission: Double-check the form for any errors or omissions before submitting it to the relevant parties.
  • Keep Copies: Always keep a copy of the completed form for your records, as it may be needed for future reference.
  • Consult Professionals: If you're unsure about any part of the form or its implications, consider consulting with a real estate attorney or a title company.

Understanding these key points can help ensure a smoother process when dealing with residential property transactions in Texas.

Dos and Don'ts

When filling out the Texas residential property affidavit T-47 form, it's essential to follow certain guidelines to ensure accuracy and compliance. Here are four things you should and shouldn't do:

  • Do double-check all the information you provide. Accuracy is crucial.
  • Do ensure that all required signatures are present before submitting the form.
  • Don't leave any sections blank. If a section does not apply, indicate that clearly.
  • Don't rush through the form. Take your time to read each question carefully.

Common mistakes

  1. Missing Signatures: One of the most common mistakes is forgetting to sign the affidavit. Ensure all required parties sign the document.

  2. Incorrect Property Description: Failing to provide an accurate description of the property can lead to issues. Double-check the address and legal description.

  3. Not Including All Required Information: Omitting necessary details, such as the name of the affiant or the date, can invalidate the form.

  4. Using Outdated Versions: Always use the most current version of the T-47 form. Older versions may not be accepted.

  5. Improper Notarization: Make sure the affidavit is properly notarized. An incomplete or incorrect notarization can cause problems.

  6. Failing to Review Before Submission: Rushing through the form without a final review can lead to mistakes. Take your time to ensure everything is correct.

  7. Ignoring Local Requirements: Some areas may have specific requirements for the T-47 form. Check local regulations to avoid issues.

  8. Not Keeping Copies: Failing to keep a copy of the completed affidavit for your records can be a mistake. Always retain a copy for future reference.

  9. Assuming All Information is Clear: Don't assume that all information is clear to others. Use clear and concise language to avoid confusion.

  10. Not Seeking Help When Needed: If you're unsure about how to fill out the form, don't hesitate to ask for assistance. Getting help can prevent costly errors.

What You Should Know About This Form

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

    The T-47 form is an affidavit used in Texas real estate transactions. It provides information about the property and confirms certain facts related to its ownership and condition. Typically, it is used to support title insurance policies by verifying the current state of the property.

  2. Who needs to complete the T-47 form?

    The form is generally completed by the property owner or seller. It is often required when transferring ownership of residential property, especially during the closing process. Buyers may also need to review the form to understand the property's status.

  3. What information is required on the T-47 form?

    The form requests details such as the property address, the names of the current owners, and any existing liens or encumbrances. It may also ask for information about improvements made to the property and whether the property has been used for any illegal activities.

  4. Is the T-47 form legally binding?

    Yes, the T-47 form is a legally binding document. By signing it, the affiant (the person completing the form) certifies that the information provided is true and accurate to the best of their knowledge. Providing false information can lead to legal consequences.

  5. How is the T-47 form submitted?

    The completed T-47 form is typically submitted to the title company handling the transaction. They will review the form as part of the title insurance process. In some cases, it may also be filed with the county clerk's office, depending on local regulations.

  6. Can the T-47 form be amended?

    Yes, if there are errors or updates needed after the form has been submitted, it can be amended. The property owner must complete a new T-47 form that reflects the correct information and submit it to the title company.

  7. Where can I obtain a T-47 form?

    The T-47 form can be obtained from various sources, including title companies, real estate agents, and online legal resources. It's important to ensure that you are using the most current version of the form to avoid any issues during the transaction.

Texas residential property affidavit T-47 Example

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

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