In Texas, Property Owner Associations ( POA's ) are required to provide certain information to property owners when requested. This information is usually obtained during the "option period" of most standard Texas promulgated earnest money contracts.
The idea is simply to allow a prospective purchaser to be able to determine if the seller of a property has any issues with the association including any outstanding dues, assessments or infractions that might cause a prospective purchaser to not want to purchase a property or to allow for the sellers to clear up the problem issues. Additionally the buyer might discover that the association is planning on a large assessment of some kind in the near future or the buyer may just determine that the association is poorly operated or possibly even too restrictive on membership.
It is always a good idea for a buyer's agent to insure in the contract that the prospective buyer receives full disclosure including copies of any related documents about any governing the property.
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