Pecan Ridge Estates Homeowners Association, Inc.

What Pecan Ridge Estates Homeowners Association, Inc.'s governing documents say

This is a Land Use Restriction Agreement recorded in 1993 for a specific single-family lot (Lot 11, Block 4) in Pecan Ridge Estates, part of an affordable housing disposition program by the Resolution Trust Corporation. It binds the original owners (Jonathan and Michele Creech) and future owners to occupancy and resale restrictions. This is not the community's HOA governing documents; it is a supplemental restriction tied to the property's deed.

• Principal residence requirement: The owner must occupy the property as their principal residence for at least 12 months from the date of the agreement.
• Resale recapture: If the owner sells or transfers the property before the termination date, the seller (RTC) recaptures 75% of any proceeds that exceed the original purchase price ($45,119.10) plus reasonable closing costs and documented improvement costs.
• Termination or expiration: The agreement automatically terminates at 11:59 p.m. on the 27th day of a specified month in 1993 (the termination date). It may also terminate earlier by recording a release, foreclosure, or deed in lieu of foreclosure. Given the date, this restriction is likely expired.
• Waiver of recapture: The seller may waive the recapture requirement for good cause (e.g., necessary relocation). The owner must submit a written request with a release, and the seller has 60 days to respond.
• What this document doesn't cover: This document does not cover typical homeowners association rules such as maintenance obligations, pet restrictions, architectural guidelines, parking rules, or assessments. Those would be in the community's separate CC&Rs or other governing documents.

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.