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3618, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 104. APARTMENT OWNERSHIP. (a) An owner of an apartment in a condo regimen has it exclusively, and also the owner might possess, convey, or encumber the house, or subject it to judicial acts, individually of the other apartment or condos in the condo program.(b) An individual title or interest in a house in a condo program is recordable.(c) The whole passion in the condo regime will be split among the apartments.(d) An individual may possess a house in a condo program collectively or in common with others.(e) A condo association might not change or damage a house or a restricted common element without the authorization of all owners affected as well as the initial lien mortgagees of all impacted proprietors.

1, eff. An owner of a house in a condominium regime shares possession of the program's usual elements with the various other apartment or condo owners. An apartment or condo proprietor might utilize the usual components according to their intended purposes, as expressed in the plat, declaration, or bylaws of the condominium routine, without interfering with the legal rights of the other apartment or condo owners.

3620, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 108. DIVIDING OF COMMON COMPONENTS. (a) The possession of the basic as well as the restricted usual aspects of a condominium routine may not be judicially partitioned or divided while they appropriate for a condo regimen.(b) An individual might not start an activity for dividers of the limited or basic common components of a condo regime unless the mortgages on the residential property are paid or the consent of the mortgagees is gotten.(c) An agreement contrary to this area is space.

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3621, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 109. CONVEYANCE OF COMMON ASPECTS. An apartment in a condominium routine and also the undistracted rate of interest of a home owner in the typical aspects of the routine that are attributable to the apartment may not be communicated separately. If a transportation of a home does not describe the common elements, the concentrated passion of the home owner in the general and the restricted typical components of the regimen attributable to the home is conveyed with the apartment or condo.

3622, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 110. DISCONTINUATION OF CONDOMINIUM PROGRAM. (a) By unanimous agreement, or if the statement offers termination by agreement of the owners, by agreement of the holders of at the very least 67 percent or a stated portion in the statement, whichever is higher, of the ownership interests in the condo, the proprietors of a structure in a condo regime might terminate the regime as well as request the area clerk of the area in which the routine lies to merge the records of the estates that comprise the condo regime, if any financial institutions in whose behalf encumbrances versus the building are taped consent to approve the wholehearted sections of the building owned by the debtors as protection, gave no change might be made to an affirmation to minimize the vote needed for termination of the condo program - apartments for rent near greenwood.(b) If a condominium program is terminated, each home owner has a concentrated rate of interest in the common property that corresponds to the undistracted passion the original source previously had by the home proprietor in the typical elements.(c) Residential or commercial property that has been removed from a condominium program might be committed to an additional condo routine at any moment.


3621, ch. 576, Sec. 1, eff. Jan. 1, 1984. Amended by Acts 1989, 71st Leg., ch. 157, Sec. 1, eff. May 25, 1989. Sec. 81. 111. CHANGE OF CONDO STATEMENT. After a condo affirmation is tape-recorded with a region clerk, the statement might not be changed other than at a conference of the home owners at which the amendment is accepted by the owners of at least 67 percent of the possession interests in the condominium.

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For the purposes of this chapter, the home owners that have at the very least 51 percent of the interests in a condo routine, as determined under the affirmation, are a bulk of the house proprietors. (a) By resolution of a majority of the council of proprietors or in the manner offered or called for by the declaration or laws, the council of proprietors may obtain the insurance it click this considers appropriate for the security of the structures and the home owners.(b) Insurance might be written in the name of the council of proprietors, or in the name of an individual designated in the statement or laws, as trustee for the apartment or condo proprietors and their mortgagees.

Unless the council of proprietors unanimously agrees otherwise, the insurance coverage proceeds shall be paid to the private apartment or condo proprietors or their mortgagees, as their passion might appear, in proportion to the rate of interest of an apartment proprietor 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. CONDOMINIUM RECORDS. (a) The administrator or board of management of a condominium routine or why not check here an individual selected by the bylaws of the regimen will maintain an in-depth written account of the receipts and also expenditures connected to the building and its administration that defines the costs incurred by the regime.(b) The accounts and also sustaining coupons of a condominium regimen will be offered to the house owners for examination on functioning days at convenient, well-known, and also openly revealed hrs.(c) Guides as well as records of a condominium regimen must abide with excellent bookkeeping treatments and also need to be investigated a minimum of as soon as annually by an auditor who is not related to the condominium regime.

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