Fill Out a Valid Texas residential property affidavit T-47 Form Fill Out Your Document

Fill Out a Valid Texas residential property affidavit T-47 Form

The Texas residential property affidavit T-47 form is a document used to confirm the ownership of real property and provide necessary information about the property. This form plays a crucial role in real estate transactions, ensuring that all parties have accurate details about the property's status. To get started on your transaction, fill out the T-47 form by clicking the button below.

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Form Overview

Fact Name Details
Purpose The T-47 form is used to provide an affidavit regarding the ownership and condition of residential property in Texas.
Governing Law The form is governed by Texas Property Code and relevant regulations set forth by the Texas Real Estate Commission.
Usage This affidavit is typically required by title companies during real estate transactions to confirm property details.
Signatories The form must be signed by the property owner or their authorized representative to be valid.
Filing Requirement The T-47 form is usually submitted to the title company, but it is not filed with the county clerk.

Documents used along the form

The Texas residential property affidavit T-47 form is an important document used in real estate transactions, particularly for properties located in Texas. When completing a property transaction, several other forms and documents may also be required to ensure a smooth process. Below is a list of commonly used documents that accompany the T-47 form.

  • Deed of Trust: This document secures a loan by transferring the property title to a trustee until the borrower repays the loan. It is crucial for financing a home purchase.
  • Warranty Deed: This legal document transfers ownership of property from the seller to the buyer. It guarantees that the seller holds clear title to the property.
  • Title Insurance Policy: This insurance protects the buyer and lender against any claims or disputes regarding the property title. It is essential for safeguarding ownership rights.
  • Property Disclosure Statement: This form requires sellers to disclose any known issues with the property. It helps buyers make informed decisions about their purchase.
  • Closing Statement: Also known as the HUD-1 statement, this document outlines all financial transactions related to the property sale, including fees and credits for both parties.
  • Loan Estimate: Provided by the lender, this form gives borrowers an estimate of the mortgage loan terms and costs. It is essential for understanding financing options.
  • Survey: A survey outlines the property boundaries and any encroachments. This document is vital for confirming the property’s legal description.
  • IRS Form 1099-S: This form is used to report the sale of real estate to the IRS. It is important for tax purposes and must be filed by the closing agent.
  • Affidavit of Heirship: If the property is inherited, this document establishes the rightful heirs and their ownership interest in the property.

Understanding these documents can help buyers and sellers navigate the complexities of real estate transactions in Texas. Having the right paperwork in order is key to a successful property transfer.

Document 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