This is an addendum to the earnest money contract concerning property described within the addendum. The addendum addresses the following topics: the resale certificate, association repairs, assessments, and representations. The addendum also states that no representation is made as to the legal validity or adequacy of any provision in any specific transaction.
The Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association is a legal document that is essential when purchasing or selling a property in Harris County, Texas, which is subject to mandatory membership in an owners' association. This addendum provides important details and conditions specific to such properties, ensuring both the buyer and seller are aware of their rights and obligations. 1. Purpose of the Addendum: The Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association outlines the rights, responsibilities, and obligations of both the buyer and seller when dealing with a property that falls under the jurisdiction of an owners' association. 2. Key Elements of the Addendum: a. Membership1. This section specifies that the property being sold or purchased is subject to mandatory membership in an owners' association. It includes details about the association's name, contact information, and governing documents. b. Buyer's Obligations: i. Compliance: The buyer agrees to abide by and conform to all rules, regulations, covenants, and restrictions imposed by the owners' association. ii. Fees: The buyer acknowledges being responsible for paying all membership fees, assessments, and other charges imposed by the owners' association. c. Seller's Obligations: i. Disclosures: The seller is required to provide the buyer with copies of the association's governing documents, rules, regulations, and any other relevant information within a specified timeframe. ii. Transfer Fee: The seller may be responsible for paying a transfer fee to the owners' association upon the sale of the property. d. Governing Documents: This section may include references to the association's bylaws, declarations, articles of incorporation, and any amendments. It ensures that both parties have access to the legal framework governing the owners' association. e. Dispute Resolution: The addendum may include provisions for resolving disputes between the buyer and the owners' association or the seller and the owners' association, such as mediation or arbitration. Types of Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association: 1. Standard Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association: This is the most commonly used addendum when the property being bought or sold is subject to mandatory membership in an owners' association. 2. Modified Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association: This addendum might incorporate specific modifications or additional terms agreed upon between the buyer, seller, and the owners' association. 3. Residential Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association: This type of addendum is used specifically for residential properties subject to mandatory membership in an owners' association, addressing residential-specific rules and obligations. 4. Commercial Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association: This addendum is tailored for commercial properties subject to mandatory membership in an owners' association, taking into account the unique requirements and regulations applicable to commercial property ownership. It is essential to consult with a real estate attorney or professional to ensure the appropriate and relevant Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association is utilized, depending on the specific circumstances of the property being bought or sold.The Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association is a legal document that is essential when purchasing or selling a property in Harris County, Texas, which is subject to mandatory membership in an owners' association. This addendum provides important details and conditions specific to such properties, ensuring both the buyer and seller are aware of their rights and obligations. 1. Purpose of the Addendum: The Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association outlines the rights, responsibilities, and obligations of both the buyer and seller when dealing with a property that falls under the jurisdiction of an owners' association. 2. Key Elements of the Addendum: a. Membership1. This section specifies that the property being sold or purchased is subject to mandatory membership in an owners' association. It includes details about the association's name, contact information, and governing documents. b. Buyer's Obligations: i. Compliance: The buyer agrees to abide by and conform to all rules, regulations, covenants, and restrictions imposed by the owners' association. ii. Fees: The buyer acknowledges being responsible for paying all membership fees, assessments, and other charges imposed by the owners' association. c. Seller's Obligations: i. Disclosures: The seller is required to provide the buyer with copies of the association's governing documents, rules, regulations, and any other relevant information within a specified timeframe. ii. Transfer Fee: The seller may be responsible for paying a transfer fee to the owners' association upon the sale of the property. d. Governing Documents: This section may include references to the association's bylaws, declarations, articles of incorporation, and any amendments. It ensures that both parties have access to the legal framework governing the owners' association. e. Dispute Resolution: The addendum may include provisions for resolving disputes between the buyer and the owners' association or the seller and the owners' association, such as mediation or arbitration. Types of Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association: 1. Standard Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association: This is the most commonly used addendum when the property being bought or sold is subject to mandatory membership in an owners' association. 2. Modified Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association: This addendum might incorporate specific modifications or additional terms agreed upon between the buyer, seller, and the owners' association. 3. Residential Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association: This type of addendum is used specifically for residential properties subject to mandatory membership in an owners' association, addressing residential-specific rules and obligations. 4. Commercial Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association: This addendum is tailored for commercial properties subject to mandatory membership in an owners' association, taking into account the unique requirements and regulations applicable to commercial property ownership. It is essential to consult with a real estate attorney or professional to ensure the appropriate and relevant Harris Texas Addendum for Property Subject to Mandatory Membership in an Owners' Association is utilized, depending on the specific circumstances of the property being bought or sold.
