Effective 1/1/2012
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Buyer can request and is required to pay for the resale certification and subdivision information (unless agreed to otherwise in the contract).
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HOA can request, but cannot process payment until resale cert is prepared and available, and not all if not delivered in a timely manner (10 business days). Buyer may be required to show a valid sales contract.
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Resale certs are only good for 60 days. After that, the resale certificate is obsolete and cannot be used.
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HOAs, or their management company, must make all county deed records available on their website (if a website exists).
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All “dedicatory instruments” pertaining to the establishment, maintenance, and operation of the HOA must be filed of record.
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HOAs with 14 or more lots must create a reasonable alternative payment plan (at least three, but not more than 18 months) which will allow Texas families to repay delinquent regular or special assessments, plus reasonable fees and interest.
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By a vote of 67% of all homeowners a declaration maybe amended (i.e. to add/delete foreclosure capability) unless the declaration already contains a lower percentage.
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HOAs must hold open meetings and provide 72 hour notice of board meetings. No action may be taken on items not posted on the agenda.
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HOAs must use an expedited foreclosure process which includes obtaining a court order before foreclosing on a property owner. Also the HOA may not foreclose on a property owner’s debt consisting solely of fees charged for HOA records.
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There are no limits on the amounts that can be charged for HOA transfer fees.
