The Legacy (TX)

What The Legacy (TX)'s governing documents say

This is a partial, ancillary document set for The Legacy, a single-family subdivision in Colleyville, TX. The first part is an amendment to the community's CC&Rs, but it mostly contains indemnification language and a tree preservation plan, not the full rules. The second part is a Land Use Restriction Agreement (LURA) that applies to specific affordable housing properties, binding the owner/landlord to income and rent limits, not the typical homeowner.

• What this document covers: The first document is an amendment to the CC&Rs, but the text is mostly about indemnification and tree preservation requirements, not the full set of HOA rules. The second is a Land Use Restriction Agreement (LURA) that applies to specific affordable housing properties, binding the owner/landlord to income and rent limits, not the typical homeowner.
• Affordability restrictions: For properties covered by the LURA, the owner must rent or sell to lower-income families (income at or below 80% of area median) or very low-income families (at or below 50% of area median), with rents capped at 30% of income for households at 50% or 65% of area median income, adjusted for family size.
• Resale and recapture: If a qualifying buyer sells within 12 months, 75% of the profit (sale price minus original price, closing costs, and documented improvements) must be paid to the RTC or agency, unless waived for good cause.
• Occupancy and lease terms: Qualifying buyers must occupy the home as their primary residence for at least 12 months. Leases to qualified tenants must include income certification and cooperation clauses.
• What this document doesn't cover: This document does not contain the full CC&Rs for The Legacy, so it doesn't cover typical HOA rules like architectural review, parking, pets, or maintenance responsibilities. It also doesn't apply to all homes in the subdivision—only those subject to the LURA.

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.