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File Breakdown

Fact Name Details
Purpose The T-47 form is used to provide a sworn statement regarding the property improvements and encroachments on a residential property in Texas.
Governing Law This form is governed by the Texas Property Code and Texas Title Insurance regulations.
Who Uses It Homeowners and title companies typically use the T-47 form during real estate transactions.
Filing Requirements The form must be completed and signed in front of a notary public before it can be submitted.
Information Included The T-47 form includes details about the property boundaries, improvements, and any known encroachments.
Validity Period The affidavit remains valid for up to 90 days from the date of signing unless otherwise specified.

Key takeaways

The Texas residential property affidavit T-47 form is an important document in real estate transactions. Understanding its purpose and proper use can streamline the process of property transfer. Here are key takeaways regarding this form:

  • Purpose of the Form: The T-47 affidavit serves to confirm that the property has not undergone any significant changes since the last title insurance policy was issued.
  • Who Should Fill It Out: Typically, the seller or the property owner is responsible for completing the T-47 form.
  • Accuracy is Crucial: Providing accurate information is essential. Any discrepancies could lead to complications in the title insurance process.
  • Signature Requirement: The form must be signed in the presence of a notary public to ensure its validity.
  • Submission Timing: It is advisable to submit the T-47 form during the closing process, as it is often a requirement for title insurance companies.
  • Consultation Recommended: Consulting with a real estate attorney or title company can help clarify any uncertainties regarding the form's completion and implications.

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. Here are seven things you should and shouldn't do:

  • Do read the instructions carefully before starting the form.
  • Do provide accurate information about the property.
  • Do ensure all signatures are present and dated.
  • Do keep a copy of the completed form for your records.
  • Don't leave any required fields blank.
  • Don't use incorrect or outdated information.
  • Don't forget to check for spelling errors or typos.

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Instructions on Filling in Texas residential property affidavit T-47

Filling out the Texas residential property affidavit T-47 form is an important step in the property transaction process. Once you have completed the form, you will need to submit it to the appropriate parties involved in the transaction, such as the title company or lender, to ensure everything is in order.

  1. Start by downloading the T-47 form from a reliable source or obtain a physical copy from your title company.
  2. At the top of the form, fill in your name and contact information. Make sure this is accurate.
  3. Provide the address of the property in question. Double-check for any typos to avoid confusion later.
  4. Indicate the date you are completing the form. This is typically the date you sign it.
  5. In the designated section, describe the nature of your ownership of the property. Be clear and concise.
  6. Next, you will need to affirm that you have not made any changes to the property that could affect its title. Check the appropriate boxes as required.
  7. Sign and date the form at the bottom. Your signature is essential for the affidavit to be valid.
  8. If required, have the form notarized. This step may be necessary depending on the requirements of the title company or lender.
  9. Finally, make copies of the completed form for your records before submitting it to the appropriate party.

Misconceptions

The Texas residential property affidavit T-47 form is often misunderstood. Here are four common misconceptions:

  • The T-47 form is only for new homeowners. This is not true. The T-47 form can be utilized by any property owner who wishes to affirm the boundaries and descriptions of their property, regardless of how long they have owned it.
  • Filing the T-47 form guarantees title insurance coverage. This misconception can lead to confusion. While the T-47 form provides important information about the property, it does not automatically ensure that title insurance will be issued or that coverage will be granted.
  • The T-47 form is only necessary for properties with disputes. Many believe this form is only required when there are boundary disputes or issues. In reality, it can be beneficial for any property owner to file the T-47 form to clarify property boundaries and prevent future misunderstandings.
  • Completing the T-47 form is a complicated process. While the form does require accurate information, it is designed to be straightforward. Property owners can complete it with the necessary details about their property without needing extensive legal knowledge.