9821 Katy Freeway, Suite 350 Houston, Texas 77024 Tel: (713) 510-1000 Fax: (713) 510-1001 www.holtyoung.com HOMEOWNERS ASSOCIATION LAWS TABLE OF CONTENTS CHAPTER 5. CONVEYANCES .............................................................................................................................................. 7 SUBCHAPTER A. GENERAL PROVISIONS ....................................................................................................................... 7 § 5.001. Fee Simple ..................................................................................................................................................................... 7 § 5.002. Failing as a Conveyance ................................................................................................................................................ 7 § 5.003. Partial Conveyance ........................................................................................................................................................ 7 § 5.004. Conveyance by Authorized Officer ................................................................................................................................ 7 § 5.005. Aliens ............................................................................................................................................................................. 7 § 5.006. Attorney’s Fees in Breach of Restrictive Covenant Action ........................................................................................... 7 § 5.007. Vendor and Purchaser Risk Act ...................................................................................................................................... 8 § 5.008. Seller’s Disclosure of Property Condition ..................................................................................................................... 8 § 5.009. Duties of Life Tenant ................................................................................................................................................... 12 § 5.010. Notice of Additional Tax Liability ............................................................................................................................... 12 § 5.011. Seller’s Disclosure Regarding Potential Annexation ................................................................................................... 13 § 5.012. Notice of Obligations Related to Membership in Property Owners’ Association ....................................................... 14 § 5.013. Seller’s Disclosure of Location of Conditions Under Surface of Unimproved Real Property .................................... 16 § 5.014. Notice of Obligations Related to Public Improvement District ................................................................................... 16 § 5.015. Prohibited Fees ............................................................................................................................................................. 17 § 5.016. Conveyance of Residential Property Encumbered by Lien ......................................................................................... 18 § 5.018. Disclosure of Absence of Certain Warranties .............................................................................................................. 19 SUBCHAPTER B. FORM AND CONSTRUCTION OF INSTRUMENTS ....................................................................... 20 § 5.021. Instrument of Conveyance ........................................................................................................................................... 20 § 5.022. Form ............................................................................................................................................................................. 20 § 5.023. Implied Covenants ....................................................................................................................................................... 20 § 5.024. Encumbrances .............................................................................................................................................................. 21 § 5.025. Wood Shingle Roof ...................................................................................................................................................... 21 § 5.026. Discriminatory Provisions ........................................................................................................................................... 21 § 5.027. Correction Instruments: Generally ............................................................................................................................... 21 § 5.028. Correction Instruments: Nonmaterial Corrections ....................................................................................................... 21 § 5.029. Correction Instruments: Material Corrections ............................................................................................................. 22 § 5.030. Correction Instrument: Effect ...................................................................................................................................... 22 § 5.031. Correction Instruments Recorded Before September 1, 2011 ..................................................................................... 23 SUBCHAPTER C. FUTURE ESTATES ................................................................................................................................ 23 § 5.041. Future Estates ............................................................................................................................................................... 23 § 5.042. Abolition of Common Law Rules ................................................................................................................................ 23 1 § 5.043. Reformation of Interests Violating Rule Against Perpetuities ..................................................................................... 23 SUBCHAPTER D. EXECUTORY CONTRACT FOR CONVEYANCE ............................................................................ 24 § 5.061. Definition ..................................................................................................................................................................... 24 § 5.062. Applicability ................................................................................................................................................................. 24 § 5.0621. Construction With Other Law .................................................................................................................................... 25 § 5.063. Notice ........................................................................................................................................................................... 25 § 5.064. Seller’s Remedies on Default ....................................................................................................................................... 25 § 5.065. Right to Cure Default ................................................................................................................................................... 26 § 5.066. Equity Protection; Sale of Property ............................................................................................................................. 26 § 5.067. Placement of Lien for Utility Service .......................................................................................................................... 27 § 5.068. Foreign Language Requirement ................................................................................................................................... 27 § 5.069. Seller’s Disclosure of Property Condition ................................................................................................................... 27 § 5.070. Seller’s Disclosure of Tax Payments and Insurance Coverage .................................................................................... 28 § 5.071. Seller’s Disclosure of Financing Terms ....................................................................................................................... 29 § 5.072. Oral Agreements Prohibited ......................................................................................................................................... 29 § 5.073. Contract Terms, Certain Waivers Prohibited................................................................................................................ 30 § 5.074. Purchaser’s Right to Cancel Contract Without Cause ................................................................................................. 30 § 5.075. Purchaser’s Right to Pledge Interest in Property on Contracts Entered Into Before September 1, 2011 .................... 31 § 5.076. Recording Requirements .............................................................................................................................................. 31 § 5.077. Annual Accounting Statement ...................................................................................................................................... 32 § 5.078. Disposition of Insurance Proceeds ............................................................................................................................... 32 § 5.079. Title Transfer ...............................................................................................................................................................