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TREC 37-5 — Subdivision Information, Including Resale Certificate for Property Subject to Mandatory Membership in a Property Owners' Association

Subdivision Information, including Resale Certificate, for property subject to mandatory membership in a property owners' association (Chapter 207, Texas Property Code), completed by the association. It discloses any right of first refusal or transfer restraint, regular and special assessments, unpaid amounts, capital expenditures and reserves, judgments and pending suits, known violations and governmental code notices, transfer fees, the managing agent, and whether the association may foreclose its lien, with the restrictions, rules, bylaws, budget, balance sheet, insurance certificate and any code notices attached.

Source: TREC
Form Number: 37-5
Category: Other
Revised: February 10, 2014

Used For

Residential Sales

Form Outline

The TREC 37-5 form is organized into the following sections:

  1. Header and Property Identification
    Identifies the subject property and the association preparing the certificate, tying the disclosure to a specific property and POA.
  2. Right of First Refusal
    Indicates whether the POA or another party holds a right of first refusal or transfer restriction. Critical for buyers to know before committing.
  3. Current Regular Assessment
    Discloses the recurring assessment amount and frequency. A key ongoing cost the buyer must budget for.
  4. Special Assessment
    Reveals any non-recurring special assessment that has been approved or levied, with payment terms and purpose.
  5. Total Unpaid Amounts Attributable to Property
    Total unpaid obligations owed to the POA for this property. These amounts typically constitute a lien that must be cleared at closing.
  6. Capital Expenditures
    States board-approved capital spending for the current fiscal year, indicating planned infrastructure or facility improvements.
  7. Reserves for Capital Expenditures
    States the POA's reserve fund balance for capital expenditures. Healthy reserves indicate the association can fund repairs without special assessments.
  8. Unsatisfied Judgments
    States whether the POA has unpaid court judgments, which can affect financial stability and potentially increase assessments.
  9. Pending Lawsuits
    Reveals whether the POA is involved in litigation and provides case names and numbers. Pending lawsuits can indicate governance problems or financial exposure.
  10. Known Violations of Restrictions
    Reveals whether the board knows of existing violations on the property. The buyer inherits responsibility for unresolved violations upon purchase.
  11. Governmental Health or Building Code Violations
    Reveals governmental code violation notices affecting the property or common areas. Attached copies provide details on compliance issues.
  12. Administrative Transfer Fees
    States POA transfer fees for ownership changes and requires itemized descriptions. These fees are typically paid at closing.
  13. Managing Agent Information
    Identifies the management company or agent handling POA operations with full contact information for assessment payments, requests, and inquiries.
  14. Foreclosure Rights
    Reveals whether the POA has authority to foreclose for unpaid assessments. Foreclosure authority means the POA can force sale of the property for delinquent dues.
  15. Required Attachments
    Lists the seven mandatory documents that must accompany the completed certificate, covering governance, finances, insurance, and compliance.
  16. Notice, Signature, and Association Information
    The POA's authorized representative signs and dates the certificate, establishing the 'as of' date for all disclosed information.

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