What is a T-47 residential real property affidavit?
The first section of the T-47 Residential Real Property Affidavit form is for basic information: date, name, address, legal description of the property, and what county it is in. There is also a blank where the notary needs to fill in what state they are a notary in (we see this missed quite often).
Who is responsible for filling out the T-47 form?
The seller is responsible for filling out this form. The T-47 is a generally straightforward document used by title insurance companies to determine the coverage they are willing to provide. The confusion arises in Paragraph 4 where the seller is instructed to fill in a date after which no major changes to the property have occurred.
When should the seller fill in the T-47 form in Texas?
When should the seller fill in the T-47? The affidavit is part of the Texas promulgated home purchase contract, and has conditions attached to it. Complete the form before listing the home for sale – before you even receive a contract. That way you avoid missing a contractual deadline to provide the survey and the related affidavit.
How do I fill out a T-47 when buying a house?
First, get a copy of the survey from when the home was purchased. If you don’t have one, they might be able to get in touch with the title company at which they closed escrow on the purchase of the home and ask them for a copy. If you can’t find a survey, don’t bother filling in the T-47. Some of the fields are easy – date, name, address.
What is the t47 for?
The T-47 is a Residential Real Property Affidavit. It's a notarized document that tells the buyer what the seller knows about the home's boundaries.
How do you complete a t47?
How to Fill out the Texas Residential Property Affidavit Form?Put the date and File Number.Identify the Affiant(s)Provide the Affiant's Physical Address.Describe the Property and Its Location.Identify the Notary Public.State Your Ownership Rights Type.Put the Date of the Last Major Changes.Provide Details (If Any)More items...
Does a T-47 have to be notarized?
Before accepting the offer and signing the contract, a seller must make sure that they actually DO have an accurate survey in their possession, and have signed and notarized a T-47 Affidavit (the T-47 is a sworn statement of seller that the existing survey is still an accurate depiction of the property in its current ...
What is the GF number on a T-47?
If you are married or own the home in common with someone, only one of you needs to fill their name in and sign in front of a notary. Leave GF No. number blank – this is a file number for use by the title company at which you sell your home. The description is the legal description of the property.
What documents does a title company need?
Typically, buyers will need to bring a few standard documents like proof of insurance and their photo IDs, but the title company and your real estate agent will be able to let you know if you'll need to bring anything else with you.
Do you need a T 47 with a new survey?
Checkboxes (2) and (3) do not apply to this conversation, as a T-47 is not required when using a new survey. The T-47 is only used when you check Paragraph 6. C. (1), which allows the seller to use an existing survey.
Who signs the residential real property affidavit quizlet?
Who signs the Residential Real Property Affidavit? The answer is the owners of the property. A buyer purchase property "as is" under the One to Four Family Residential Contract.
What is one instance in which the commission allows license holders to use alternatives to the required or promulgated forms?
What is one instance in which the commission allows license holders to use alternatives to the required, or promulgated, forms? If the alternative form is prepared by the property owner themselves.
What is a t19 endorsement for Texas?
Explanation: This endorsement to the Loan policy insures against violations of restrictions, encroachments over easements, building lines or property lines, and damage by reason of mineral or other subsurface substance development.
What Is a Texas Residential Property Affidavit?
As mentioned above, this type of residential real property affidavit follows and authorizes an estate transactions survey. The buyer and seller may either agree to pay to get a new survey composed or use an already existing one for the transaction to come into force.
The Primary Purpose of the T-47 Affidavit
In plain words, the state title insurance companies use this document to assess and then claim the amount of coverage they are ready to provide for the subject piece of real property. Thus, the purpose of the Texas residential property affidavit seems pretty clear, but that is until you are faced with Paragraph 4 of the document.
How to Fill out the Texas Residential Property Affidavit Form?
First off, you should obtain the proper T-47 form template. You can either download it from the official state government’s website or go to the Texas Department of Insurance and receive it in person. However, there is another far more convenient option: you can use our latest software tools and developments to build and customize your form online.
Why Use the T-47 Affidavit Form in Texas?
There are plenty of legal reasons for a property seller in Texas to use the residential real estate affidavit form. For example, you can assure the buyer that all the paperwork is transparent and in order. That, in turn, can persuade them to make their decision to purchase a piece of property in your favor.
What is a T-47?
The T-47 is a Residential Real Property Affidavit. It’s a notarized document that tells the buyer what the seller knows about the home’s boundaries.
Where can I find a notary for a T-47?
Take the T-47 to a notary to sign it and have the affidavit notarized. You can find notaries in banks, in offices, at title companies, and law offices for example.
What is an affidavit for a home purchase in Texas?
The affidavit is part of the Texas promulgated home purchase contract, and has conditions attached to it. Complete the form before listing the home for sale – before you even receive a contract. That way you avoid missing a contractual deadline to provide the survey and the related affidavit.
What section of a survey should you record the date you bought the home?
It should also be recorded on the survey that you have in front of you. Section 4 – this allows you to write the date that you bought the home (or the date of the survey if the survey was more recent). Then you have to put a list of things that you have changed that might affect the accuracy of the existing survey.
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