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(a) A proprietor of an apartment or condo in a condominium program has it specifically, and also the proprietor might possess, communicate, or overload the home, or subject it to judicial acts, separately of the various other apartments in the condominium regime.(b) An individual title or rate of interest in an apartment in a condo program is recordable.(c) The entire rate of interest in the condo program shall be divided among the apartment or condos.1, eff. An owner of a home in a condo program shares possession of the program's usual elements with the other apartment proprietors. A home owner might make use of the usual elements according to their intended objectives, as revealed in the plat, affirmation, or laws of the condo regime, without interfering with the civil liberties of the various other house proprietors.
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3621, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 109. CONVEYANCE OF COMMON COMPONENTS. An apartment in a condo routine as well as the wholehearted interest of a house owner in the common aspects of the regime that are attributable to the home may not be communicated individually. If a transportation of an apartment does not refer to the usual aspects, the concentrated rate of interest of the apartment or condo proprietor in the basic and also the minimal typical elements of the routine attributable to the house is conveyed with the home.
(a) By unanimous arrangement, or if the statement supplies for termination by contract of the owners, by agreement of the holders of at the very least 67 percent or a specified percentage in the declaration, whichever is higher, of the possession interests in the condo, the proprietors of a building in a condo routine may terminate the program and request the region clerk of the county in which the program is located to combine the records of the estates that consist of the condo routine, if any type of lenders in whose behalf encumbrances versus the building are tape-recorded agree to accept the undivided portions of the residential property owned by the borrowers as safety, supplied no change might be made to a statement to minimize the ballot needed for termination of the condominium program.(b) If a condominium regime is ended, each apartment or condo proprietor owns an undivided passion in the usual property that matches to the undistracted passion formerly owned see page by the apartment or condo proprietor in the common components.(c) Property that has actually been eliminated from a condo regimen might be dedicated to another condo routine at any time.
3621, ch. 576, Sec. 1, eff. Jan. 1, 1984. Changed by Acts 1989, 71st Leg., ch. 157, Sec. 1, eff. May 25, 1989. Sec. 81. 111. CHANGE OF CONDO AFFIRMATION. After a condominium affirmation is tape-recorded with a county staff, the affirmation might not be modified except at a meeting of the house proprietors at which the modification is approved by the holders of a minimum of 67 percent of the ownership passions in the condominium.
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3621, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 203. BALLOT MAJORITY. Source For the functions of this chapter, the home proprietors who own a minimum of 51 percent of the interests in a condominium program, as identified under the statement, are a majority of the home proprietors (new apartments greenwood). Acts 1983, 68th Leg., p.
3622, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 205. INSURANCE COVERAGE. (a) By resolution of a bulk of the council of owners or in the manner offered or needed by the statement or laws, the council of owners might acquire the insurance coverage it deems suitable for the defense of the structures and also the home owners.(b) Insurance may be created in the name of the council of owners, or in the name of a person marked in the statement or laws, as trustee for the apartment or condo owners and also their mortgagees.
Unless the council of proprietors with one voice agrees otherwise, the insurance coverage proceeds will be paid to the specific home owners or their mortgagees, as their rate of interest might appear, in proportion to the rate of interest of an apartment or condo proprietor in the condominium regime as developed by the declaration. (a) The administrator or board of management of a condominium regimen or a person appointed by the laws of the regimen will maintain click here for more a detailed written account of the receipts and also expenditures associated to the building and its administration that defines the costs incurred by the routine.(b) The accounts and also sustaining coupons of a condo regimen shall be made readily available to the house proprietors for exam on functioning days at hassle-free, established, and also openly announced hrs.