Buying and Selling Property in Pine Valley
All property in Pine Valley Sub-Division is subject to the Pine Valley Property Owners Association, Inc. Covenants and Restrictions. These restrictions run with the land, a legal term meaning that both current and all future owners are subject to the restrictions. Pine Valley Original Covenants date back to 1985 when the Pine Valley Sub-division was developed. The Pine Valley Board has the right to change these restrictions and has done so periodically over the years. Pine Valley Prospective owners are encouraged to review these deed restrictions and rules prior to buying property in Pine Valley. All Pine Valley legal documents are posted under Governing Documents on this site.
Leased Lots from The Franklin County Water District:
All waterfront lots and some interior lots close to the lake are owned by the Franklin County Water District, the owner of Lake Cypress Springs. These lots are leased to owners on a 99 year lease, assumable in sale transactions. Leased lots are fully subject to both the rules of the Franklin County Water District and Pine Valley Property Owners Association, Inc. The rules for the Franklin County Water District can be found at www.fcwd.com
Fee Simple Lots:
All other lots in Pine Valley are fee simple meaning an owner receives a deed on the property.
There are a variety of building restrictions in Pine Valley that can be found in the Pine Valley Covenants and Franklin County Water District rules.
Franklin County, Texas maintains responsibility for septic system permits and inspection. All lots in Pine Valley require aerobic septic systems, with special rules for installation on waterfront property. It should be noted that not all Pine Valley lots are large enough to adhere to both the Pine Valley minimum square footage requirement for homes AND the area necessary for aerobic septic systems.
Assessments, Fees and Taxes:
All lots in Pine Valley are subject to Pine Valley annual assessments plus other fees and charges as defined in the Pine Valley Assessment and Fees Schedule. Annual lease fees for Franklin County Water District (if applicable) and annual Franklin County Property Taxes should also be considered. All of these fees, assessments and taxes automatically create a lien on the property until paid, regardless of owner. Therefore, prospective buyers should contact each entity BEFORE closing any property in Pine Valley to verify outstanding amounts due.
Title Company Closings:
If you are using a title company to close your property, the title company may request payoff information from Pine Valley on any outstanding amounts due Pine Valley using a LOT TRANSFER FORM. The Title company will calculate the amount owed by the both the seller and buyer and collect at closing, then remit this payment to Pine Valley. The buyer is responsible for providing all contact information to Pine Valley so that our billing records are up to date. Transfer fees are due on both lots and houses.
Warranty Deed between Buyer and Seller:
If you buy property directly from the owner, the BUYER has the responsibility to:
1. Determine any amounts due Pine Valley by contacting Pine Valley Business Office.
2. Complete the LOT TRANSFER FORM and send to Pine valley.
3. Send the $50 per lot transfer fee plus any other amounts due Pine Valley.
4. Send a copy of the recorded Warranty Deed to Pine Valley.
5. Register at www.pinevalleytexas.com.
IMPORTANT: Pine Valley has a lien on all property in Pine Valley so that unpaid amounts due Pine Valley are collateralized by the property. Therefore, Pine Valley looks to the current owner for these amounts due, regardless of who incurred the charges.