Ridgeview Farms

What Ridgeview Farms's governing documents say

This is a private transfer fee covenant (a 'Declaration of Covenant') recorded against the Ridgeview Farms subdivision in Azle, TX. It is not a full homeowners' association rulebook; instead, it requires a fee (1% of the sale price) to be paid upon most property transfers. The covenant runs with the land and binds all current and future owners for 99 years.

• Transfer fee (Reconveyance Fee): Upon most conveyances of a property interest, the seller (Grantor) must pay a Reconveyance Fee equal to 1% of the Consideration (sale price). This fee is collected by a Trustee (currently Ron Robins) and partly distributed to designated non-profit organizations benefiting the community.
• Term of covenant: The covenant became effective when recorded and expires 99 years from the date referenced in paragraph 6(i) (likely September 2009). It can be terminated earlier by the Declarant under certain conditions.
• Exempt transfers: No Reconveyance Fee is due for transfers involving: mortgages/deeds of trust, transfers to an Institutional Lender via foreclosure, transfers to a government entity or 501(c)(3), transfers to a family member, transfers where the Grantor holds a controlling interest before/after, and transfers occurring before October 1, 2014.
• Leasehold exemption: Transfers that are leaseholds or subleases are excluded from the fee if the total term (including options) is 49 years or less. Longer leases (50+ years) may trigger the fee under certain conditions.
• Enforcement and lien: If the Reconveyance Fee is unpaid, it becomes a lien on the property, and the Trustee can foreclose non-judicially. The Trustee may also sue the owner personally for collection.
• What this document doesn't cover: This document does not contain typical HOA rules about pets, parking, architectural standards, or use of common areas. It is a standalone transfer fee covenant. For those rules, refer to the separate Declaration of Covenants, Conditions, and Restrictions for Ridgeview Farms (not provided here).

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.