Changes to the T-47 Affidavit requirement – Texas REALTORS®-2021十大正规彩票app

October 01, 2024

The Texas Department of Insurance recently proposed an update to the rule regarding the T-47 Affidavit requirement. Under the proposed rule, sellers would have the option of providing the new T-47.1 Declaration, which does not need to be notarized, in lieu of the T-47 Affidavit. A final adoption order is expected in the coming months with an effective date of November 1, 2024.

In anticipation of this rule change, TREC proposed a rule change to amend Paragraph 6C(1) of the One to Four Family Residential Contract (Resale) (TXR 1601, TREC 20-17) to include the option of providing the T-47.1 Declaration when the seller furnishes the buyer with an existing survey. TREC’s proposed rule will be voted on at the November commission meeting.

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