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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 that provides essential information about the property in question, including details regarding ownership and any existing liens. It is commonly utilized during the closing process to assure lenders and buyers that the property is free of undisclosed issues that could affect ownership rights. By completing the T-47, sellers affirm the accuracy of the information provided, which helps to facilitate a smoother transaction. Additionally, this affidavit can be pivotal in clarifying the status of the property, ensuring that all parties have a clear understanding of any potential encumbrances or claims. Understanding the nuances of this form is vital for both buyers and sellers, as it can significantly impact the overall transaction process and the legal standing of the property involved.
Similar forms
The Texas residential property affidavit T-47 form is similar to the Texas Warranty Deed. Both documents serve to convey ownership of property from one party to another. A warranty deed provides a guarantee that the grantor holds clear title to the property, while the T-47 form affirms the facts surrounding the property’s ownership and any encumbrances. Both forms require signatures and notarization to ensure authenticity and legal standing.
Another document that resembles the T-47 is the Affidavit of Heirship. This affidavit is used when property is inherited and there is no will. Like the T-47, it establishes ownership and clarifies the chain of title. The Affidavit of Heirship provides a sworn statement regarding the decedent's heirs, while the T-47 focuses on the current ownership and any liens against the property.
The Texas Quitclaim Deed shares similarities with the T-47 form as both are used to transfer property rights. A quitclaim deed conveys whatever interest the grantor has in the property without any guarantees. The T-47, however, is more focused on affirming the current status of ownership and any encumbrances. Both documents require notarization and can be recorded with the county clerk.
The Title Insurance Commitment is another document that aligns with the T-47 form. Both documents are crucial in real estate transactions, as they provide information about the property’s title status. The Title Insurance Commitment outlines any existing liens or encumbrances, similar to how the T-47 affirms the current ownership and potential claims against the property.
In the context of property transfers, it's essential to understand the types of deeds available, including the Quitclaim Deed, which is akin to various property-related documents. The Quitclaim Deed allows individuals to transfer their rights to a property without warranties about the title, making it particularly useful in situations involving close acquaintances or family members. If you're interested in learning more about the Georgia Quitclaim Deed specifically, you can visit https://quitclaimdeedtemplate.com/georgia-quitclaim-deed-template/ for additional insights and resources.
The Texas Residential Lease Agreement is also comparable to the T-47 form. While the lease agreement governs the rental of property, it often requires confirmation of ownership, which the T-47 provides. Both documents establish rights and responsibilities regarding the property, though they serve different purposes in property management.
The Property Disclosure Statement is another similar document. This statement is provided by sellers to disclose any known issues with the property. The T-47 form, on the other hand, focuses on the ownership and any encumbrances. Both documents aim to inform interested parties about the property’s status, ensuring transparency in real estate transactions.
The Deed of Trust is akin to the T-47 in that it involves property ownership and encumbrances. A Deed of Trust secures a loan with the property as collateral. While the T-47 affirms ownership and encumbrances, the Deed of Trust establishes a lender's interest in the property. Both documents play a vital role in real estate financing.
The Affidavit of Title is another document that bears similarities to the T-47. This affidavit is used to affirm the status of the property’s title, confirming that the seller has the right to sell. The T-47 also affirms ownership and any liens, making both documents essential for ensuring clear title during a transaction.
Lastly, the Seller’s Disclosure Notice is similar to the T-47 form in that it provides crucial information about the property’s condition. While the Seller’s Disclosure focuses on the physical state of the property, the T-47 addresses ownership and encumbrances. Both documents are important for buyers to make informed decisions during a property transaction.
Form Specifications
| Fact Name | Description |
|---|---|
| Purpose | The T-47 form is used to provide a sworn statement regarding the ownership and condition of a residential property in Texas. |
| Governing Law | This form is governed by Texas Property Code, specifically Section 12.001. |
| Affidavit Requirement | It is required for certain transactions, particularly when a title company needs to confirm property details. |
| Signature | The form must be signed by the property owner, affirming the accuracy of the information provided. |
| Use in Transactions | The T-47 form is commonly used in residential real estate transactions, including sales and refinances. |
| Submission | The completed form should be submitted to the title company involved in the transaction. |
| Validity | Information provided in the T-47 form must be accurate as it can affect the title insurance policy. |
| Implications of False Information | Providing false information on the T-47 can lead to legal consequences, including potential liability for damages. |
Different PDF Templates
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Sample - Texas residential property affidavit T-47 Form
(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