Brandyridge

What Brandyridge's governing documents say

Brandyridge is a subdivision in Arlington, TX. The documents you provided are not a full set of HOA CC&Rs but rather three individual affordable housing deed restrictions that apply only to specific lots (Lot 11, Block 3; Lot 5, Block 4; Lot 13, Block 3). They do not govern the whole community and may be expired or outdated. The restrictions are from two programs: the Federal Home Loan Bank's Homebuyer Equity Leverage Partnership (HELP) Program and the Resolution Trust Corporation's Affordable Housing Disposition Program.

• Affordability & income limits: Under the HELP documents, any sale or refinancing during the 60-month Retention Period requires repayment of a prorated share of the Direct Subsidy unless the buyer is a Low- or Moderate-Income Household. The RTC agreement requires the buyer to occupy the property as a principal residence for at least 12 months and imposes a recapture of 75% of net gain on sale within one year.
• Recapture on sale or refinancing: HELP: Upon sale or refinancing during the 60-month Retention Period, the seller must repay a pro rata share of the Direct Subsidy (reduced by 1/60 per month) from any net gain. RTC: If the property is sold within one year, 75% of net gain exceeding acquisition costs and documented improvements is recaptured.
• Occupancy requirement: The RTC agreement requires the buyer to intend to occupy the property as their principal residence for at least 12 months from the date of acquisition.
• Term / Expiration: The HELP restrictions run for 60 months (Retention Period) from the closing date. The RTC agreement terminates on June 30, 1994, or earlier upon sale during foreclosure or deed-in-lieu. Both restrictions are subordinate to prior recorded liens and may be extinguished by foreclosure.
• What this document doesn't cover: This collection of deed restrictions does not contain typical HOA rules such as architectural review, pet limits, parking, or maintenance obligations. It does not apply to all Brandyridge lots and may no longer be in effect.

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.