Chasewood Condominium Homeowners

What Chasewood Condominium Homeowners's governing documents say

This is a temporary Land Use Restriction Agreement (LURA) between the original buyer of a condominium unit in Chasewood Oaks (Arlington, TX) and the FDIC, part of an affordable housing program. It imposes a 1-year occupancy and resale restriction on the buyer only—it is not the community's full condominium declaration or HOA rules. Current homeowners, future buyers, and renters are not bound by this expired agreement; the document is of historical interest only.

• Document type & scope: This is a one-year resale restriction agreement tied to a specific buyer (Evan Cox) and unit (Unit 107, Building C) in Chasewood Oaks Condominiums. It expired automatically on November 9, 1995, and no longer imposes any obligations.
• Occupancy requirement (expired): The original buyer certified intent to occupy the unit as a principal residence for at least 12 months from November 9, 1994. This requirement ended with the agreement.
• Resale recapture (expired): Had the buyer sold within the 1-year term, the FDIC could recapture 75% of profit exceeding the purchase price ($31,714.89) plus reasonable closing costs and documented improvements. This recapture right is now void.
• What this document doesn't cover: This document does not contain any rules about pets, common elements, assessments, leasing, parking, age restrictions, or other ongoing HOA/condo governance. Those would be found in the Chasewood Oaks Condominium Declaration and Bylaws.

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.