Resale Certificate (POA)
The statutory disclosure a Texas property owners association issues on resale, reporting assessments, restrictions, and known violations.
A resale certificate is the document a property owners association delivers when a lot subject to mandatory membership is resold. Texas Property Code Chapter 207 lists what it must state, including the amount of regular and special assessments, sums due to the association, capital or reserve amounts held, any known violation of the dedicatory instruments, and whether the association has given notice of a required repair.
In a resale transaction the buyer usually receives the certificate along with the dedicatory instruments through the TREC addendum for property subject to mandatory membership in a property owners association. The addendum sets who pays, who orders it, the delivery deadline, and the buyer's right to terminate if the certificate is not delivered on time.
The certificate is a snapshot of the association's records. It reports what the association knows, and a person is generally entitled to rely on it, but it does not substitute for the seller's own disclosure duties.
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- Deed Restriction (Restrictive Covenant)
A private limitation on how a property may be used, written into a deed or recorded subdivision rules and enforced by owners or an association.
- Common Elements
The parts of a condominium owned collectively by all unit owners, such as the lobby, pool, and parking.
- Special Assessment
A charge levied only on the properties that benefit from a specific public improvement, based on benefit rather than value.
- Seller's Disclosure Notice
The statutory Texas form on which a seller of most residential property discloses the property's known condition to the buyer.
- Condominium
A form of ownership in which a buyer holds fee simple title to an individual unit plus an undivided share of the common elements.
Sources
This definition is Texas real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.