The bill, H.B. No. 2828, amends Chapter 209 of the Property Code by adding a new section, 209.00635, which addresses the acceptance of partial payments by property owners' associations. According to the new legal language, a property owners' association is not obligated to accept partial payments from an owner for any amounts owed unless such payments are made under a payment plan or a written agreement that the association has entered into with the owner. This provision clarifies the conditions under which partial payments can be accepted, ensuring that associations have the discretion to refuse them unless a formal agreement is in place.
The bill is set to take effect on September 1, 2025, providing a clear timeline for property owners' associations and owners to understand the new requirements regarding partial payments. This legislative change aims to streamline the payment process and establish clear expectations for both parties involved in financial transactions related to property ownership.
Statutes affected: Introduced: ()