What is the purpose of a T-47?
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 …
How do I fill out a 47 residential real property affidavit?
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)
How can I get at 47?
Where can I get a T-47? You can get one from your title company, the Texas Department of Insurance or your agent can provide you with the Texas Association of Realtors version of the form, like this TAR 1907 Residential Real Property Affidavit sample.
What is a 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.
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.
Which document transfers property to the buyer?
Key Takeaways. A property deed is a legal document that transfers the ownership of real estate from a seller to a buyer. For a deed to be legal it must state the name of the buyer and the seller, describe the property that is being transferred, and include the signature of the party that is transferring the property.
Which document is the most important at closing?
It often includes a description of the property and signed by both parties. Deeds are the most important documents in your closing package because they contain the statement that the seller transfers all rights and stakes in the property to the buyer.
How much does land survey cost in Texas?
Here are the average property survey costs for a few states: New York: $380–$900. South Carolina: $250–$600. Texas: $200–$550.