from the brain of: Libby Elizabeth

Sep 2021

Covid-19 Lease Payment Plan Agreement (Txr 2227)

The CARES Act applies to real estate that is inhabited by a tenant under a residential lease agreement, if the property participates in a covered housing program or rural housing voucher program or has a state-backed mortgage or a state-backed multifamily mortgage. Some homeowners will know that their home is included because they recognize the name of a federal housing program on the list below, for which they had to apply and qualify. However, many owners of 1-4 residential properties may not realize that their property has a state-secured mortgage, because even if a homeowner has received a loan from a bank or credit union and makes payments to a mortgage company that does not appear to be related to the government, the loan may have been sold to Freddie Mac or Fannie Mae shortly after it was concluded. An owner can use Freddie Mac or Fannie Mae`s reference tools to determine if one of these state-subsidized businesses now owns their loan. (Home managers should keep in mind that these credit applications can only be made by or with the borrower`s permission.) Other tracking tools were provided by the National Preservation Database (affordable housing only) and the National Low Income Housing Coalition (apartment buildings only). Together, these four sites include most, but not necessarily all, real estate covered by the CARES Act. Texas REALTORS® established the COVID-19 Lease Payment Plan Agreement (TXR 2227). This form is intended for tenants facing financial difficulties directly related to COVID-19. This form allows the tenant and the lessor to benefit from temporary flexibility in the payment of rent and other sums. No no. The rental agreement provides that, unless otherwise provided by law, the tenant is not entitled to early termination due to a voluntary or involuntary transfer of work or school, changes in marital status, loss of employment, loss of tenants, changes in health, purchase of property or death. Currently, there is no law allowing a tenant to terminate prematurely for reasons related to COVID-19.

Tenants are encouraged to contact a lawyer if they wish to continue their resignation. To help your tenants and landlords understand the impact of COVID-19 on their rentals and properties, Texas REALTORS® has developed two flyers: one you can share with your tenants and the other you can share with your landlords. The injunction does not exempt from the obligation to pay rent, to pay for housing or to perform other contractual obligations related to housing. Nothing in the order excludes the collection or recovery of fees, penalties or interest due to non-payment of rent or other housing payments due to the timely payment of rents or other accommodation, in accordance with the terms of an applicable contract. In addition, a person may be moved for reasons other than non-payment of rent. During the 60-day mitigation period, the lessor may at any time file a request to reopen the eviction case with the judge. . . .

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