The residential real property affidavit T-47 is a legal document used in the state of Texas during real estate transactions to verify the accuracy of the seller's property disclosures.
The purpose of the T-47 affidavit is to provide assurance to the buyer that the seller has disclosed all known defects and encumbrances affecting the property to the best of their knowledge. The affidavit is typically signed by the seller and notarized before the closing of the real estate transaction.
The T-47 affidavit is commonly used when a property is being sold or refinanced in Texas, and it is required by many mortgage lenders as part of the closing process. The affidavit is also used to confirm that the seller has not filed for bankruptcy, is not involved in any legal disputes, and has not made any false or misleading statements about the property.
In summary, the T-47 affidavit is a legal document used to confirm the accuracy of a seller's property disclosures and is required during real estate transactions in Texas.
Written by: Texas Roadrunner Realty
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