The Manors at Waterford Homeowner's Association, Inc.

What The Manors at Waterford Homeowner's Association, Inc.'s governing documents say

This document is a declaration of a 'reconveyance fee' (also known as a transfer fee) for The Manors at Waterford, a single-family home subdivision in Keller, Texas. It does not create a homeowners' association rulebook. Instead, it requires that anyone selling their home pay a fee to a private company (the 'Trustee'), which is then split between a list of private beneficiaries and a nonprofit. This fee is a deed restriction that runs with the land, meaning future buyers take title subject to paying it when they eventually sell.

• Transfer / Reconveyance Fee: Every time the property is sold (with some exemptions), the seller must pay a reconveyance fee. The fee amount isn't listed in this excerpt, but it is secured by a lien on the property until paid. The fee is collected by a Trustee (Covenant Clearinghouse, LLC) and distributed to a list of named beneficiaries (mostly a developer entity and individuals) and a nonprofit.
• Who must pay: Any 'Owner' (the record owner of a property in The Manors at Waterford) who conveys a 'Real Property Interest' must pay. Exemptions include transfers to the original Declarant, transfers that only secure a debt (e.g., a mortgage), transfers by will or inheritance, transfers to a lender in foreclosure, and a few others.
• Lien & enforcement: If the fee isn't paid, it becomes a lien on the property. The Trustee can foreclose (judicially or non-judicially) to collect the unpaid fee, interest, and costs. The lien is subordinate only to a first mortgage. Foreclosure doesn't extinguish this declaration.
• What this document doesn't cover: This is a private transfer fee covenant, not a full HOA or condominium rulebook. It does not cover any community rules about pets, rentals, parking, architectural changes, or any other day-to-day living restrictions. It does not create an association with dues or meetings.

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.