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(a) A proprietor of an apartment in a condo program owns it exclusively, as well as the owner may possess, convey, or encumber the house, or subject it to judicial acts, separately of the various other apartment or condos in the condo routine.(b) A specific title or passion in a home in a condominium regime is recordable.(c) The entire rate of interest in the condominium program shall be separated amongst the apartment or condos.

1, eff. A proprietor of an apartment in a condo regime shares possession of the program's typical aspects with the other home owners. A house proprietor may utilize the usual elements according to their intended objectives, as expressed in the plat, statement, or bylaws of the condominium routine, without interfering with the legal rights of the other apartment or condo proprietors.

1, eff. (a) The ownership of the general and also the minimal typical components of a condominium program might not be judicially segmented or split while they are suitable for a condo routine.(b) An individual may not initiate an action for dividing of the minimal or basic typical aspects of a condominium program unless the home loans on the residential property are paid or the approval of the mortgagees is acquired.

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1, eff. A home in a condo regime and also the undivided interest of a house owner in the usual elements of the routine that are attributable to the apartment might not be shared separately. If a conveyance of an apartment does not refer to the common aspects, the concentrated passion of the home owner in the basic and the limited typical aspects of the program attributable to the apartment is conveyed with the apartment or condo.

(a) By consentaneous contract, or if the statement supplies for discontinuation by arrangement of the owners, by contract of the holders of at least 67 percent or a mentioned portion in the statement, whichever is higher, of the ownership passions in the condo, the proprietors of a structure in a condominium program may terminate the regime and also demand the region clerk of the region in which the regimen is located to merge the records of the estates that consist of the condominium regimen, if any type of financial institutions in whose behalf encumbrances versus the structure are tape-recorded concur to approve the wholehearted portions of the residential or commercial property owned by the borrowers as protection, offered no amendment may be made to an affirmation to reduce the vote needed for termination of the condo regimen.(b) If a condominium program is ended, each house proprietor possesses an undistracted interest in the common building that corresponds to the undistracted rate of interest previously possessed by the apartment proprietor in the common components.(c) Residential property that has been removed from a condo program might be devoted to an additional condo program at any kind of time.


1, eff. AMENDMENT OF CONDOMINIUM STATEMENT. After a condominium statement is videotaped with an area clerk, the statement might not be amended other than at a conference of the house discover this info here owners at which the amendment is authorized by the holders of at least 67 percent of the ownership interests in the condo.

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For the functions of this chapter, image source the home owners that have at the very least 51 percent of the passions in a condominium program, as determined under the affirmation, are a bulk of the apartment or condo proprietors. (a) By resolution of a majority of the council of proprietors or in the way offered or needed by the declaration or laws, the council of proprietors may obtain the insurance policy it deems proper for the security of the structures and also the house proprietors.(b) Insurance might be created in the name of the council of owners, or in the name of a person assigned in the declaration or bylaws, as trustee for the home owners as well as their mortgagees.

Unless the council of owners unanimously agrees or else, the insurance policy continues will be paid to the individual apartment or condo owners or their mortgagees, as their passion may appear, in percentage to the passion of a house owner in the condo regime as established by the statement. Acts 1983, 68th Leg., p.

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3623, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 209. CONDO RECORDS. (a) The manager or board of administration of a condo program or a person appointed by the bylaws of the program shall maintain a comprehensive written account of the invoices as well as expenditures related to the building and its management that defines the costs sustained by the program.(b) The accounts and also supporting coupons of a condominium routine shall be offered to the apartment proprietors for assessment on working days at over here convenient, well-known, as well as publicly announced hrs.(c) Guides and documents of a condo routine must abide with good accountancy procedures as well as must be examined a minimum of as soon as every year by an auditor that is not related to the condominium regime.

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