Full Answer
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. You can leave GF number blank – this is a file number for use by the title company at which you sell your home. The description is a legal description.
How do I fill out a 47?
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...
What is the purpose of a T-47?
The T-47 is an affidavit that accompanies a survey in real estate transactions when the buyer and seller wish to use an existing survey rather than paying for a new one at the time of the transaction. The seller is responsible for filling out this form.
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 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.
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.
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.
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.
What is a GF number?
What is the GF number? The GF number (for guaranty file) is used to identify the file and should be used whenever you communicate with the closer. The process of setting up a working file for the transaction is often called “opening title” and is the first step in the title company's work to close the sale and issue a policy.
What is the GF number on a T 47?
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. It is in your contract in Paragraph 2.
What does GF mean in texting?
GF means “Girlfriend,” “Gay Female” or “Good Fight.” The abbreviation GF has many meanings when used in text-based messaging and online. It is widely used with the meaning “Girlfriend” and, especially on dating sites, it is used to mean “Gay Female.” In gaming circles, GF is also used to mean “Good Game.”
What is 47 residential real property affidavit?
30.69 KB. The T-47 Residential Real Property Affidavit (also known simply as the T-47) is a notarized form that complements a survey in a real estate transaction.
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.
How should the seller complete a T-47?
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.
When should the seller fill in the T-47?
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 is the first section of a T-47?
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).
When is a T-47 required?
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. The survey and T-47 must meet the requirements of the lender and the title company, but as long as they do that, an older survey may be used (typically the one provided to the seller when they originally bought the house). It is important to note the sentence in bold (it is in bold on the contract) – the seller has a specific amount of days (first blank line in the section) to deliver both the survey and the T-47 to the buyer. If the seller fails to do so, the buyer may order a new survey and the seller will be required to pay for it regardless of which box is checked later in the section. Those two checkboxes define who will pay for the survey in the event that the survey and T-47 are not accepted by the title company or lender.
How to wrap up a T-47?
Wrapping up the form is the section for the notary. You’ll need to take this form to a notary and sign it in their presence. Once notarized, the T-47 should be delivered along with the survey within the time allowed in the contract. Many agents will upload these documents into the MLS to ensure that any agent representing a potential buyer can quickly pull them and deliver them to their client (although it should be noted that having the documents in the MLS does not constitute delivery and the listing agent should ensure that they are given to the buyer’s agent).
What is a T-47?
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.
What is the bottom of paragraph 4?
At the bottom of Paragraph 4, the seller may list changes to the property that have occurred since that date or put “None” if there have been no changes. Some title companies may require use of their own version of the T-47.
