The Texas residential property affidavit T-47 form is a document used to confirm the status of a property and its ownership. This form is essential for various real estate transactions, providing clarity and assurance to all parties involved. If you need to fill out this form, click the button below.
The Texas residential property affidavit T-47 form plays a crucial role in real estate transactions, particularly for those involved in the buying or selling of residential properties. This form serves as a declaration regarding the property’s boundaries, improvements, and ownership, offering essential information to both buyers and lenders. It is often used in conjunction with title insurance policies, helping to clarify any potential issues related to property lines or encroachments. By providing a sworn statement about the current state of the property, the T-47 form helps ensure transparency and protects all parties involved in the transaction. Completing this form accurately is vital, as it can impact the title insurance process and the overall success of the sale. Understanding the requirements and implications of the T-47 form is essential for anyone navigating the Texas real estate market.
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The Texas residential property affidavit T-47 form is an important document in real estate transactions. Understanding how to fill it out and use it can simplify the process of transferring property ownership. Here are some key takeaways:
Using the T-47 form effectively can help streamline your real estate transactions and ensure clarity in ownership rights.
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