Several new Texas laws take effect January 1, 2012. One new law, affecting many homeowners, makes changes to rules for homeowner associations. Other than discussions of politics, few topics can get folks worked up more than Homeowner Associations.
So, what’s changed? In a nutshell, homeowner associations have new restrictions on their ability to foreclose, on a homeowner, who is delinquent in paying their association dues. Associations are now required to give past due homeowners anywhere from three months, up to eighteen months, to bring their accounts current.
Another provision of the new law allows homeowners to vote whether they even want to allow their association to foreclose on delinquent members at all. The law requires such an amendment, to the bylaws, to be passed by at least two thirds of the homeowners. This provision doesn’t say if you get to vote on such an amendment, if say, you are already delinquent.
So, if you are a homeowner who has issues with your association and their dues, this is very good news. If you are on your association board and are responsible for paying the associations obligations, not so good news!
As always, We would love to hear your feed back.