Southfield

What Southfield's governing documents say

This is a recorded deed restriction on a single-family property at 9240 Christopher Circle in Southfield (Fort Worth, TX), under the Federal Home Loan Bank of Dallas's Homebuyer Equity Leverage Partnership (HELP) Program. It binds the current and future owners to affordability requirements, not a community association. Prospective buyers should understand these restrictions limit resale proceeds and impose income limits.

• Affordability – income limits: The property is restricted to households with an income of 80% or less of the area median income, adjusted for household size per applicable methodology.
• Resale restrictions & subsidy repayment: If the property is sold during the 5-year retention period, the seller must repay a pro rata share of the direct subsidy, reduced by 1/60 for each full month of ownership. On a refinancing, repayment is the lesser of (i) that pro rata share or (ii) realized gain minus the HELP-assisted household's investment, unless the amount is $2,500 or less.
• Retention period: The restrictions apply for a 5-year period starting from the date of purchase (evidenced by closing disclosure). Any sale or transfer within that period triggers repayment obligations.
• Subordination to liens: These deed restrictions are subordinate to any valid prior lien, and a foreclosure, deed-in-lieu, or assignment of a prior lien extinguishes the restrictions, with notice to the Bank required.
• Foreclosure & extinguishment: The restrictions are extinguished upon death of the HELP-assisted homeowner or foreclosure (with notice to the Bank required during the retention period).
• Correction instrument: A correction filed on April 8, 2025, corrected the legal description to include both Lot 11 and Lot 12, Block 1, Southfield Addition. That does not change the substance of the restrictions.
• What this document doesn't cover: This is not a full set of HOA or condominium rules. It does not cover common area maintenance, assessments, architectural control, pet restrictions, or parking. Those would be in separate documents (e.g., subdivision covenants) recorded for the Southfield community, but none are included here.

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.