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3618, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 104. APARTMENT OWNERSHIP. (a) An owner of a home in a condo program has it exclusively, and also the proprietor may possess, communicate, or encumber the house, or subject it to judicial acts, separately of the other houses in the condo regime.(b) A specific title or interest in a home in a condominium regime is recordable.(c) The entire passion in the condominium regimen shall be divided among the houses.(d) A person might own a home in a condo program jointly or alike with others.(e) A condominium association may not alter or destroy an apartment or condo or a limited common aspect without the authorization of all proprietors influenced and also the initial lien mortgagees of all influenced owners.

1, eff. A proprietor of a home in a condominium regime shares possession of the routine's typical aspects with the other home proprietors. A house proprietor might make use of the typical elements according to their intended objectives, as expressed in the plat, statement, or bylaws of the condominium regime, without conflicting with the rights of the other apartment or condo owners.

1, eff. (a) The possession of the general as well as the limited usual aspects of a condominium program might not be judicially separated or divided while they are appropriate for a condo regimen.(b) An individual might not launch an action for dividers of the limited or general common aspects of a condominium regimen unless the mortgages on the building are paid or the authorization of the mortgagees is acquired.

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1, eff. A house in a condominium routine and the concentrated passion of a house owner in the usual aspects of the regimen that are attributable to the apartment or condo might not be communicated individually. If a conveyance of an apartment does not refer to the typical components, the undistracted passion of the house owner in the general as well as the minimal typical elements of the regimen attributable to the house is shared with the apartment or condo.

3622, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 110. DISCONTINUATION OF CONDOMINIUM REGIME. (a) By unanimous arrangement, or if the affirmation gives for discontinuation by contract of the proprietors, by arrangement of the holders of at the very least 67 percent or a mentioned percentage in the affirmation, whichever is better, of the possession interests in the condominium, the proprietors of a building in a condominium routine might terminate the regimen and demand the area staff of the area in Find Out More which the regime is situated to combine the documents of the estates that make up the condo routine, if any type of creditors in whose part encumbrances versus the building are videotaped consent to approve the undistracted portions of the building had by the borrowers as safety, gave no change might be made to a statement to minimize the vote needed for termination of the condominium regimen - new apartments greenwood.(b) If a condominium routine is terminated, each home owner has an undistracted interest in the common building that matches to the undistracted rate of interest formerly possessed by the apartment or condo owner in the typical aspects.(c) Residential property that has been eliminated from a condominium regimen might be committed to another condo regimen at any moment.


1, eff. AMENDMENT OF CONDO DECLARATION. After a condo statement is recorded with an area staff, the statement might not be changed other than at a meeting of the house proprietors at which the change is accepted by the owners of at the very least 67 percent of the possession rate of interests in the condominium.

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For the purposes of this chapter, the apartment proprietors who own at the very least 51 percent of the interests in a condominium regime, as identified under the affirmation, are a bulk of the house proprietors. (a) By resolution of a majority of the council of proprietors or in the way supplied or required by the statement or bylaws, the council of owners may get the insurance it considers suitable for the defense of website link the buildings and also the apartment or condo proprietors.(b) Insurance might be composed in the name of the council of owners, or in the name of an individual designated in the affirmation or bylaws, as trustee for the home proprietors and their mortgagees.

Unless the council of owners with one voice concurs otherwise, the insurance coverage proceeds will be paid to the individual home owners or their mortgagees, as their rate of interest may show up, in percentage to the passion of an apartment or condo owner in the condominium program as established by the statement. Acts 1983, 68th Leg., navigate to this site p.

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3623, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 209. CONDO DOCUMENTS. (a) The manager or board of management of a condo regimen or an individual appointed by the laws of the routine will maintain a comprehensive created account of the invoices and also expenses associated to the building and its administration that specifies the expenses sustained by the program.(b) The accounts and also supporting coupons of a condominium regime shall be offered to the apartment or condo owners for exam on working days at hassle-free, recognized, and publicly announced hrs.(c) Guides as well as documents of a condo routine need to follow good audit procedures and also need to be investigated at the very least as soon as annually by an auditor who is not connected with the condominium program.

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