Chamberlain Heights Homeowners Association Inc.

What Chamberlain Heights Homeowners Association Inc.'s governing documents say

This is a Habitat for Humanity affordable housing covenant for a single-family home at 5124 Humbert Ave. in Fort Worth, TX. It binds the homeowner (and all future owners) to income limits, owner-occupancy, and resale price caps for 99 years. It is not a typical HOA rulebook; it's a deed restriction that runs with the land.

• Affordability & income limits: The home may only be sold to an 'Eligible Buyer' whose household income does not exceed 80% of the area median income (AMI) at the time of purchase. This applies to the initial sale and all future resales.
• Resale price cap: The home cannot be sold for more than the Maximum Resale Price, which starts at $180,000 and increases by 2% compounded annually (see Exhibit B for the full schedule). This cap is an upper limit, not a guarantee of sale price.
• Owner-occupancy & rental restrictions: The owner must live in the home as their primary and permanent residence. Renting out the home is prohibited, though the owner may share occupancy with non-owners on a rental basis as long as the owner continues to live there.
• Habitat's right of repurchase: Before selling, the owner must notify Habitat, which has 60 days to decide whether to repurchase the home. If Habitat exercises this right, the price is the lesser of fair market value, the Maximum Resale Price, or the proposed sale price. A 3% fee is charged to the owner.
• Property use & maintenance: The owner must keep the home in good, safe, and habitable condition. No business activity is allowed unless permitted by zoning. Converting garage or front porch space into living space is prohibited. Capital improvements require Habitat's prior approval.
• Sale process & approvals: If Habitat doesn't repurchase, the owner must market the home publicly for at least 30 days, sell only to an Eligible Buyer at or below the Maximum Resale Price, and obtain an 'Affordability Certificate' from Habitat before closing. The buyer must assume the covenant in writing.
• Enforcement & penalties: Habitat can inspect the home with 24 hours' notice. Violations can lead to specific performance, injunction, or repurchase. Selling in violation triggers payment of 'Indebtedness' (the difference between 120% of fair market value or the actual sale price and the Maximum Resale Price), plus interest. Owners are jointly and severally liable.
• What this document doesn't cover: This is a single-property covenant, not a community-wide HOA rulebook. It does not cover common areas, amenities, architectural guidelines, pets, parking, or other typical HOA rules. Those would be in separate documents if they exist.

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.