Tax Exemption Certification Form PDF Details

Understanding the Tax Exemption Certification form, particularly in the realm of real estate transactions, is crucial for both sellers and buyers of condominium units in Texas. This form, a crucial document promulgated by the Texas Real Estate Commission (TREC), plays a significant role in condominium resale transactions. It outlines various critical elements concerning the condominium unit and the associated condominium project, located within specific counties in Texas. The form serves as a comprehensive report prepared by the condominium owners' association's governing body, detailing rights of refusal, periodic common expense assessments, and any outstanding common expense or special assessment dues by the seller. Furthermore, it delves into the financial wellbeing of the association, including approved capital expenditures, reserve funds, current operating budgets, and unsatisfied judgments, if any, against the association. Additionally, it provides insights into potential legal challenges faced by the association, insurance coverage provisions, known alterations or improvements that may violate the association’s guidelines, and notices from governmental authorities regarding health or building code violations. Lastly, the form addresses the term of any existing leasehold estate, details concerning the association’s managing agent, and fees associated with transferring the unit. The requirement of updating and providing this form within a specified timeframe before a sale highlights its importance in ensuring transparency and protecting the interests of all parties involved in a resale transaction.

QuestionAnswer
Form NameTax Exemption Certification Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namestx resale certificate, texas sales and use tax exemption certification, texas resale license, resale certificate texas application

Form Preview Example

PROMULGATED BY THE TEXAS REAL ESTATE COMMI SSI ON ( TREC)

06 - 30- 08

 

 

 

 

 

 

 

 

 

 

CON D OM I N I U M RESALE CERTI FI CATE

 

 

 

OPPORT U N I T Y

 

 

 

 

 

 

EQU AL H OU S I N G

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( Sect ion 82 . 157, Texas Proper t y Code)

 

 

 

 

 

 

 

 

 

 

 

Condom inium Certificate concerning Condom inium Unit

 

 

 

, in Building

 

 

, of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

,a condom inium proj ect , locat ed at

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( Addr ess) ,

Cit y

of

 

 

 

 

 

 

 

,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

County of

 

 

 

 

 

 

 

, Texas, on behalf of the condom inium owners' association

 

 

 

( the Association) by the Association's governing body ( the Board) .

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A. The Declarat ion

does

does not cont ain a right

of first refusal or ot her rest raint

t hat

rest rict s

 

 

 

 

t he right t o

t ransfer t he Unit . I f a r ight of fir st r efusal or

ot her r est r aint exist s,

see

Sect ion

 

 

 

 

 

 

 

of t he Declarat ion .

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

B. The periodic com m on ex pense assessm ent for t he Unit is $

 

 

 

 

 

 

 

per

 

 

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C. There

 

is

is not a com m on expense or special assessm ent due and unpaid by t he Seller t o t he

 

 

 

Associat ion. The t ot al unpaid am ount is $

 

 

and is for

 

 

 

 

 

 

 

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

D. Ot her am ount s

are

are not payable by Seller t o t he Associat ion . The t ot al unpaid am ount is

$

 

 

 

 

 

and is for

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

E. Capit al ex pendit ures approved by t he Associat ion for t he next 12 m ont hs are $

 

.

 

 

 

F. Reserves for capit al expendit ur es are $

 

 

; of t his am ount $

 

 

 

 

 

 

 

 

 

 

 

 

has been designat ed for

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

G. The current operat ing budget of t he Associat ion is at t ached.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

H. The am ount of unsat isfied j udgm ent s against t he Associat ion is $

 

 

 

 

 

 

 

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I . There

 

ar e

ar e not

any suit s pending against

t he Associat ion . The

nat ure of

t he

suit s is

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

.

 

 

 

J. The Association

does

does not provide insurance coverage for the benefit of unit owners as per

 

 

 

the at tached sum m ary from t he Associat ion's insur ance agent .

 

 

 

 

 

 

 

 

 

 

 

K. The Board

has

has no knowledge of alterations

or

im provem ents to the Unit or to the lim ited

com m on elem ents assigned to the Unit or any portion of the project that violat e any provision of the Declarat ion, by- laws or rules of t he Associat ion. Known violat ions ar e:

 

 

 

 

 

 

 

.

L. The Boar d

has

has not r eceived

not ice from

a

gov er nm ent al aut horit y concer ning

violat ions of

healt h

or building codes

wit h respect

t o

t he Unit , t he lim it ed com m on elem ent s

assigned to t he Unit , or any ot her port ion of the condom inium proj ect . Not ices r eceived ar e:

.

M. The r em aining t er m of any leasehold est at e t hat affect s t he condom inium is and t he provisions governing an ex t ension or a renew al of t he lease are:

.

N. The Associat ion’s m anaging agent is

( Nam e of Agent )

( Mailing Addr ess)

( Telephone Num ber )

( Fax Num ber )

E- m ail Addr ess

TREC NO. 32 - 2

Condom inium Resale Cer t ificat e Concer ning

Page 2 of 2 06 - 30 - 08

 

 

 

 

 

 

( Addr ess of Pr oper t y )

 

 

 

O. Associat ion fees r esult ing fr om t he t r ansfer of t he unit described abov e $

 

.

 

P. Required cont ribut ion, if any , t o t he capit al reser v es account $

 

 

.

 

REQUI RED ATTACHMENTS:

 

 

 

1

. Oper at ing Budget

 

 

 

2

. I nsurance Sum m ary

 

 

 

N OTI CE: Th e Ce r t if ica t e m u st b e p r e p a r e d n o m or e t h a n t h r e e m on t h s b e f or e t h e d a t e it is d e liv e r e d t o Bu y e r .

Nam e of Associat ion

By:

Nam e:

Tit le:

Dat e:

Mailing Address:

E- m ail:

This form has been appr ov ed by t he Tex as Real Est at e Com m ission for use wit h sim ilarly appr ov ed or prom ulgat ed

cont r act form s. Such

approval

r elat es t o t his form only .

TREC for m s are int ended for

use only by t rained r eal

est at e licensees. No repr esent at ion is m ade as t o t he legal

validit y or adequacy of any

provision in any specific

t r ansact ions. I t is not

suit able for com plex t ransact ions. Tex as Real Est at e Com m ission, P. O. Box

12188, Aust in, TX

78711 - 2188, 1 - 80 0 - 250 - 8732 or

( 512) 459 - 6544 ( ht t p: / / w w w . t r ec. st at e. t x . us) TREC No.

32- 2.

This form replaces

TREC No. 32- 1.

 

 

 

 

 

TREC NO. 32 - 2

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Stage number 1 for filling in texas resale license

2. When the last segment is completed, you're ready to put in the needed particulars in I There cidare cidare not any, J The Association ciddoes ciddoes, the attached sum m ary from t he, K The Board cidhas cidhas no, L The Board cidhas cidhas not, M The rem aining t erm of any, and t he provisions governing an, The Associat ions m anaging agent, and Nam e of Agent so you can progress to the 3rd part.

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