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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) A property owners' association shall adopt reasonable guidelines to establish an alternative payment schedule by which an owner may make partial payments to the association for delinquent regular or special assessments or any other amount owed to the association without accruing additional monetary penalties. For purposes of this section, monetary penalties do not include reasonable costs associated with administering the payment plan or interest.
(b) A property owners' association is not required to enter into a payment plan with an owner who failed to honor the terms of a previous payment plan.
(c) A property owners' association shall file the association's guidelines under this section in the real property records of each county in which any portion of the subdivision is located.
Cite this article: FindLaw.com - Texas Property Code - PROP § 215.018. Alternative Payment Schedule for Certain Assessments - last updated January 01, 2024 | https://codes.findlaw.com/tx/property-code/prop-sect-215-018/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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