Greens at Legacy

What Greens at Legacy's governing documents say

This is a property-specific Declaration of Restrictive Covenants for 2250 Macy Way in Prosper, TX, recorded by builder Perry Homes. It is not a community-wide HOA rulebook but rather a legal addendum that governs dispute resolution, remedies, and limitations between the homeowner and the builder. Prospective buyers of this lot should understand these binding pre-sale terms.

• Dispute resolution (mandatory mediation & arbitration): Any dispute with the builder must first go through mediation, and if unresolved, mandatory binding arbitration by a single arbitrator (or a panel of three at the requesting party's cost). All arbitration is administered by the AAA in the local county. This applies to contract, construction, personal injury, consumer protection claims, and more.
• Limitation on claims & waiver of jury trial: Any lawsuit or arbitration claim must be brought within two years of the closing date (presumed accrual). The parties waive any longer limitations periods. Additionally, all parties irrevocably waive the right to a jury trial and agree to a trial by the court (judge) instead.
• Attorney's fees & prevailing party costs: The prevailing party in any dispute is entitled to recover reasonable attorney's fees, expert witness fees, mediation costs, arbitration costs, and court costs. A party is 'prevailing' only if it recovers all relief sought (for a claimant) or if the claimant does not recover all relief (for a defendant).
• Seller's repurchase option for construction defects: If repair costs for a construction defect exceed 5% of the home's current fair market value, the builder may elect to repurchase the property at the original purchase price plus certain costs (closing costs, permanent improvements, moving costs, attorney/expert fees). The homeowner must transfer title free of liens.
• What this document does not cover: This Declaration does not contain typical HOA or community rules (e.g., no pet restrictions, leasing rules, architectural guidelines, or common area maintenance provisions). It focuses solely on the legal relationship and dispute process between the homeowner and the builder for this specific lot.

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.