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TXR 1921 — Condominium Resale Certificate

This certificate is a mandatory disclosure document prepared by the condominium owners' association (or its board) that provides prospective buyers with critical financial and legal information about a condominium unit being resold. It covers assessments, unpaid amounts, capital expenditures, reserv

Source: TXR
Form Number: 1921
Category: Other
Revised: November 4, 2024

Used For

Residential Sales

Form Outline

The TXR 1921 form is organized into the following sections:

  1. Unit and Association Identification
    Identifies the specific condominium unit, building, project name, address, city, and county, and states the certificate is issued by the association's board.
  2. Right of First Refusal
    Discloses whether the condominium Declaration contains a right of first refusal or other transfer restriction, and references the specific section if applicable.
  3. Periodic Common Expense Assessment
    States the regular periodic assessment (HOA dues) for the unit, including the dollar amount and payment frequency.
  4. Unpaid Common Expense or Special Assessment
    Discloses whether the seller has any unpaid common expenses or special assessments owed to the association.
  5. Other Amounts Payable by Seller
    Discloses whether the seller owes any other amounts to the association beyond regular and special assessments.
  6. Capital Expenditures
    Discloses capital expenditures approved by the association for the upcoming 12-month period.
  7. Reserves for Capital Expenditures
    Discloses the total capital reserves and any designated allocation of those reserves.
  8. Operating Budget and Balance Sheet
    Confirms that the current operating budget and balance sheet are attached to the certificate as required.
  9. Unsatisfied Judgments
    Discloses the total dollar amount of any unsatisfied judgments against the association.
  10. Pending Suits
    Discloses whether there are any pending lawsuits against the association and describes their nature.
  11. Insurance Coverage
    Discloses whether the association provides insurance coverage for unit owners and references the attached insurance summary.
  12. Alterations/Improvements Violations
    Discloses whether the Board knows of any alterations or improvements to the unit or its limited common elements that violate the Declaration, by-laws, or rules.
  13. Health or Building Code Violations
    Discloses whether the Board has received any governmental notices of health or building code violations for the unit, its limited common elements, or any part of the condominium.
  14. Leasehold Estate
    Discloses the remaining term and renewal provisions of any leasehold estate affecting the condominium (if the condominium is built on leased land rather than owned land).
  15. Managing Agent Information
    Provides the name and contact information for the association's professional management company.
  16. Transfer Fees
    Lists all fees charged by the association in connection with the transfer/sale of the unit, including descriptions, payees, and amounts.
  17. Capital Reserves Contribution
    Discloses any required contribution to the capital reserves account in connection with the transfer.
  18. Required Attachments
    Lists the three required documents that must accompany the certificate and provides the three-month freshness notice.
  19. Association Certification and Signature
    Provides the certification signature block for the association representative, including their name, title, date, and contact information.

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