A Comprehensive Guide to the T-47 Residential Real Property Affidavit

As Texas real estate pros, we know how crucial it is to have all your paperwork spot-on and on time. One key document in Northeast Texas real estate deals is the T-47 Residential Real Property Affidavit. This guide will walk you through everything you need to know about the T-47: what date to put, why it matters, and how to fill it out correctly.

Topics Covered

  • What is a T-47 affidavit?
  • Why is the T-47 affidavit important?
  • Who prepares the T-47 affidavit?
  • What are the contents of the T-47 affidavit?
  • What Date Goes on the T-47?
  • How to Complete the T-47
  • How is the T-47 affidavit executed?
  • What happens if the T-47 affidavit is not filed?
  • What is the difference between a T-47 affidavit and a survey?
  • Can the T-47 affidavit be amended?
  • What is the cost of a T-47 affidavit?
  • How long is the T-47 affidavit valid?
  • Who retains the original T-47 affidavit?
  • Common mistakes in completing a T-47 affidavit
  • FAQs about the T-47 affidavit in Texas

What is a T-47 Affidavit?

The T-47 affidavit, or “Affidavit of Physical Condition,” is a legal document used in Texas when selling property. It confirms that the seller hasn’t made any changes or alterations to the property since the last survey, essentially vouching for the property’s current condition.

Why is the T-47 Affidavit Important?

The T-47 affidavit is very important in Texas real estate deals. It helps protect the buyer from any shady activities or false claims by the seller about the property’s boundaries. It ensures the buyer knows the exact boundary conditions, so they can make a smart decision when buying.

Who Prepares the T-47 Affidavit?

Usually, the title company or the seller’s real estate agent gives the T-47 affidavit to the seller when they’re listing the property or after getting a contract from a buyer. The seller needs to sign the affidavit in front of a notary public to make it official.

Contents of the T-47 Affidavit

The T-47 affidavit includes:

  • Legal description and address of the property
  • Date of the survey
  • Seller’s statement attesting to the property’s condition and any changes since the last survey, like new structures, boundary adjustments, or encroachments
  • Disclosure of any construction projects, changes in boundary fences, or easements affecting the property

What Date Goes on the T-47?

The date on the T-47 should be when the affiant (usually the seller) signs it. Make sure this date is accurate to avoid any delays or issues.

How to Complete the T-47

  1. Identify the Affiant: Usually the seller, but it could also be a representative like a real estate agent or attorney.
  2. Identify the Property: Include the legal description of the property (lot number, block number, subdivision name).
  3. Detail Any Changes: List any changes made to the property since the last survey (additions, repairs, alterations).
  4. Sign and Date: The affiant should sign and date the T-47 to certify the information’s accuracy.
  5. Submit: The completed T-47 should be submitted to the buyer, title company, and other relevant parties.

Execution of the T-47 Affidavit

The affidavit must be signed in front of a notary public, who will then certify the signature and affix their seal.

Consequences of Not Filing the T-47 Affidavit

If the T-47 affidavit isn’t filed, the buyer might not be able to get title insurance, which protects against defects in the property title. The buyer might also opt to buy a new survey, possibly at the seller’s expense.

T-47 Affidavit vs. Survey

A survey is a map showing the property’s boundaries and its relation to other properties. The T-47 affidavit is a statement from the seller about the property’s condition and any changes since the last survey.

Amending the T-47 Affidavit

The T-47 can be amended to correct errors or omissions, but any changes must be notarized and agreed upon by all parties involved.

Cost of the T-47 Affidavit

Costs vary depending on the title company or attorney preparing the document, along with notary fees. The Texas Department of Insurance provides access to the T-47 Affidavit on their website.

Validity of the T-47 Affidavit

The T-47 affidavit is valid until the property sale closes and then becomes a permanent part of the property’s record.

Retaining the Original T-47 Affidavit

The original affidavit is typically kept by the title company and the buyer. A copy may also be filed with the county clerk’s office. Real estate brokers in Texas must keep transaction records for up to four years.

Common Mistakes in Completing the T-47 Affidavit

Common mistakes include not providing a legal property description, leaving out the survey date, or not disclosing changes made to the property. Make sure all information is accurate and complete to avoid legal issues.

Frequently Asked Questions

  • Is the T-47 affidavit required for all property sales in Texas? Yes, it is required.
  • Can the T-47 affidavit be executed after the sale closes? No, it must be executed before closing.
  • Who pays for the T-47 affidavit? Typically, the seller pays, but the contract dictates responsibility.
  • What if the T-47 affidavit contains inaccurate information? Inaccuracies can lead to legal issues.
  • Can the buyer waive the T-47 affidavit requirement? No, it is necessary for buyer protection.

Conclusion

The T-47 affidavit is a crucial document in Texas property transactions. It certifies the property’s condition and protects the buyer from fraud or misrepresentation. Ensuring accurate and complete information in the affidavit helps avoid legal complications.

Below, you’ll find a sample T-47 Affidavit with step-by-step instructions. If you have any questions or need further assistance, our team of experienced real estate agents is here to help. Feel free to reach out with any questions!