Tex. Prop. Code Section 82.157
Resale of Unit

(a)

Except as provided by Subsection (c), if a unit owner other than a declarant intends to sell a unit, before executing a contract or conveying the unit, the unit owner must furnish to the purchaser a current copy of the declaration, bylaws, any association rules, and a resale certificate that must have been prepared not earlier than three months before the date it is delivered to the purchaser. The resale certificate must be issued by the association and must contain the current operating budget of the association and statements of:

(1)

any right of first refusal or other restraint contained in the declaration that restricts the right to transfer a unit;

(2)

the amount of the periodic common expense assessment and the unpaid common expenses or special assessments currently due and payable from the selling unit owner;

(3)

other unpaid fees or amounts payable to the association by the selling unit owner;

(4)

capital expenditures, if any, approved by the association for the next 12 months;

(5)

the amount of reserves, if any, for capital expenditures and of portions of those reserves designated by the association for a specified project;

(6)

any unsatisfied judgments against the association;

(7)

the nature of any pending suits against the association;

(8)

insurance coverage provided for the benefit of unit owners;

(9)

whether the board has knowledge that any alterations or improvements to the unit or to the limited common elements assigned to that unit violate the declaration, bylaws, or association rules;

(10)

whether the board has received notice from a governmental authority concerning violations of health or building codes with respect to the unit, the limited common elements assigned to that unit, or any other portion of the condominium;

(11)

the remaining term of any leasehold estate that affects the condominium and the provisions governing an extension or renewal of the lease;

(12)

the name, mailing address, and telephone number of the association’s managing agent, if any;

(13)

the association’s current operating budget and balance sheet; and

(14)

all fees payable to the association or an agent of the association that are associated with the transfer of ownership, including a description of each fee, to whom the fee is paid, and the amount of the fee.

(b)

Not later than the 10th day after the date of receiving a written request by a unit owner, an association shall furnish to the selling unit owner or the owner’s agent a resale certificate signed and dated by an officer or authorized agent of the association containing the information required by Subsection (a). A selling unit owner or the owner’s agent is not liable to the purchaser for erroneous information provided by the association in the certificate. If an association does not furnish a resale certificate or any information required in the certificate within the 10-day period, the unit owner may provide the purchaser with a sworn affidavit signed by the unit owner in lieu of the certificate. An affidavit must state that the unit owner requested information from the association concerning its financial condition, as required by this section, and that the association did not timely provide a resale certificate or the information required in the certificate. If a unit owner has furnished an affidavit to a purchaser, the unit owner and the purchaser may agree in writing to waive the requirement to furnish a resale certificate. The association is not liable to a selling unit owner for delay or failure to furnish a resale certificate, and an officer or agent of the association is not liable for a delay or failure to furnish a certificate unless the officer or agent wilfully refuses to furnish the certificate or is grossly negligent in not furnishing the resale certificate. Failure to provide a resale certificate does not void a deed to a purchaser.

(c)

If a properly executed resale certificate incorrectly states the total of delinquent sums owed by the selling unit owner to the association, the purchaser is not liable for payment of additional delinquencies that are unpaid on the date the certificate is prepared and that exceed the total sum stated in the certificate. A unit owner or the owner’s agent is not liable to a purchaser for the failure or delay of the association to provide the certificate in a timely manner.

(d)

A resale certificate does not affect:

(1)

an association’s right to recover debts or claims that arise or become due after the date the certificate is prepared; or

(2)

an association’s lien on a unit securing payment of future assessments.

(e)

A purchaser, lender, or title insurer who relies on a resale certificate is not liable for any debt or claim that is not disclosed in the certificate. An association may not deny the validity of any statement in the certificate.
Added by Acts 1993, 73rd Leg., ch. 244, Sec. 1, eff. Jan. 1, 1994.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1183 (S.B. 1168), Sec. 1, eff. September 1, 2015.

Source: Section 82.157 — Resale of Unit, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­82.­htm#82.­157 (accessed Apr. 20, 2024).

82.001
Short Title 82.002
Applicability 82.003
Definitions 82.004
Variation by Agreement 82.005
Separate Titles and Taxation 82.006
Applicability of Local Ordinances, Regulations, and Building Codes 82.007
Condemnation 82.008
Venue 82.051
Creation of Condominium 82.052
Unit Boundaries 82.053
Construction and Validity of Declaration and Bylaws 82.054
Description of Units 82.055
Contents of Declaration for All Condominiums 82.056
Leasehold Condominiums 82.057
Allocation of Common Element Interests, Votes, and Common Expense Liabilities 82.058
Limited Common Elements 82.059
Plats and Plans 82.060
Exercise of Development Right 82.061
Alterations of Units 82.062
Relocation of Boundaries Between Adjoining Units 82.063
Subdivision of Units 82.064
Easement for Encroachments 82.065
Use for Sales Purposes 82.066
Easement Rights 82.067
Amendment of Declaration 82.068
Termination of Condominium 82.069
Rights of Secured Lenders 82.070
Meeting at Which Amendments May Be Adopted 82.101
Organization of Unit Owners’ Association 82.102
Powers of Unit Owners’ Association 82.103
Board Members and Officers 82.104
Transfer of Special Declarant Rights 82.105
Termination of Contracts and Leases of Declarant 82.106
Bylaws 82.107
Upkeep of Condominium 82.108
Meetings 82.109
Quorums 82.110
Voting and Proxies 82.111
Insurance 82.112
Assessments for Common Expenses 82.113
Association’s Lien for Assessments 82.114
Association Records 82.115
Association as Trustee 82.116
Management Certificate 82.117
Obligations of Unit Owners 82.118
Service of Process on Unit Owners in Certain Municipalities 82.119
Procedures for Filing Suit or Initiating Arbitration Proceedings for Defect or Design Claims for Certain Associations 82.120
Binding Arbitration for Certain Claims 82.121
Possession of Firearm or Firearm Ammunition on Condominium Property 82.151
Applicability 82.152
Liability for Condominium Information Statement 82.153
Condominium Information Statements in General 82.154
Condominiums with Conversion Buildings 82.155
Condominium Securities 82.156
Purchaser’s Right to Cancel 82.157
Resale of Unit 82.158
Escrow of Deposits 82.159
Release of Liens 82.160
Conversion Buildings 82.161
Effect of Violations on Rights of Action and Attorney’s Fees 82.162
Labeling of Promotional Material 82.163
Declarant’s Obligation to Complete and Restore 82.164
Loans as Eligible Investments 82.0675
Restriction Relating to Club Membership 82.1141
Access to Association Records
Green check means up to date. Up to date

Accessed:
Apr. 20, 2024

§ 82.157’s source at texas​.gov