Union Depot

What Union Depot's governing documents say

Union Depot is a subdivision in Haltom City/Fort Worth, TX, subject to a mix of affordable housing deed restrictions and a private transfer fee covenant. These are not a standard HOA or condominium rulebook; they are individual covenants recorded against specific lots. The documents affect owners and buyers who receive or have received assistance through the Homebuyer Equity Leverage Partnership (HELP) Program or Habitat for Humanity, plus a separate reconveyance fee covenant that applies to many lots in the subdivision.

• Affordability & income restrictions: The HELP Program deed restrictions require that the property be occupied by a low- or moderate-income household (income at or below 80% of area median income) during the 5-year retention period (begins 03/12/2024 for one property). The direct subsidy from the Federal Home Loan Bank of Dallas cannot exceed $20,000.
• Resale & repayment restrictions: Upon sale or refinancing during the retention period, the owner must repay a pro rata share of the direct subsidy (reduced by 1/60 for each month owned) or the net proceeds, whichever is less. No repayment is due if the amount is $2,500 or less, or if the property is sold to another low- or moderate-income household (as defined). The restrictions are subordinate to existing mortgages and may be extinguished by foreclosure or death.
• Reconveyance fee (transfer fee): A Declaration of Covenant recorded in 2010 imposes a 1% fee on the consideration for most conveyances of the property, payable to a trustee for the benefit of listed beneficiaries. Exemptions include transfers to the declarant, by a lender in foreclosure, by inheritance, or to a government/501(c)(3) entity. The fee runs with the land until December 31, 2110, and is secured by a lien subordinate to first mortgages.
• Non-discrimination covenant: A 1998 Restrictive Covenant Agreement, applicable to properties assisted under the Housing Opportunity Program (HOP), prohibits discrimination on the basis of race, color, or national origin in the sale, rental, or use of the property.
• What this document doesn't cover: These documents do not establish a homeowners association, common areas, architectural controls, pet rules, parking regulations, or any typical HOA covenants. They are standalone deed restrictions and a transfer fee covenant that affect only specific lots. Owners must look elsewhere for any subdivision-wide rules or zoning requirements.

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.