207.005 – EFFECT OF RESALE CERTIFICATE; LIABILITY. (a) A
Texas Property Code § 207.005
Summary
This law ensures that property owners' associations cannot dispute the information in a resale certificate. It protects buyers and related parties from liability regarding undisclosed amounts owed to the association at the time the certificate is issued.
Associations cannot deny statements in resale certificates.
Liens for undisclosed amounts automatically terminate upon certificate issuance.
Buyers and agents are not liable for undisclosed association dues.
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In simple terms: Learn about Texas's EFFECT OF RESALE CERTIFICATE; LIABILITY. (a) A law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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