Hanna Ranch Homeowners Association

What Hanna Ranch Homeowners Association's governing documents say

This is a set of affordable housing covenants and restrictions for a single-family home in Hanna Ranch, Fort Worth, TX, binding the owner (and future owners) to income limits, occupancy requirements, and resale price caps. It is not a typical HOA rulebook; it is a deed restriction that runs with the land for 45 years, enforced by Trinity Habitat for Humanity.

• Affordability & income limits: The home must be sold only to an 'Eligible Buyer' whose household income does not exceed 80% of the area median income (AMI), adjusted for household size. This applies to the initial sale and all future resales.
• Resale price cap: The maximum resale price starts at $225,000 and increases by 2% compounded annually, reaching about $537,762 in year 45. The home cannot be sold for more than this cap, and the cap is only an upper limit—no guarantee of that price.
• Occupancy & use restrictions: The owner must live in the home as their primary and permanent residence. Renting the property is prohibited, though sharing occupancy with non-owners on a rental basis is allowed as long as the owner continues to live there. No business activity is allowed except as permitted by zoning and any applicable community rules.
• 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, and the owner must pay a 3% fee plus closing costs.
• Sale process & approvals: The home must be marketed to the public for at least 30 days before contracting, and Habitat must issue an 'Affordability Certificate' confirming the buyer is eligible and the price is within the cap. The buyer must assume the covenants in writing, and the deed must include a specific notice clause.
• Penalties for violations: If the owner violates the occupancy or transfer rules, Habitat can force a repurchase or demand payment of 'Indebtedness'—the difference between the greater of the sale price or 120% of fair market value and the maximum resale price, plus interest. This liability runs with the land and can bind future owners.
• Term & enforcement: The covenants last 45 years from the recording date (October 30, 2023). Habitat has the right to inspect the property with 24 hours' notice and can enforce via court action, but is not obligated to enforce. The owner waives certain claims against Habitat.
• What this document doesn't cover: This is not a full HOA rulebook. It does not cover architectural guidelines, landscaping, parking, pets, or common-area maintenance. Those would be in separate documents, if any exist for this community.

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.