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3618, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 104. APARTMENT OWNERSHIP. (a) A proprietor of a house in a condominium regime possesses it exclusively, as well as the proprietor may have, share, or encumber the apartment or condo, or subject it to judicial acts, individually of the other apartment or condos in the condo regime.(b) A specific title or passion in a house in a condominium program is recordable.(c) The entire interest in the condominium regime shall be split among the apartments.(d) A person may own a house in a condominium regime collectively or alike with others.(e) A condominium organization may not alter or damage an apartment or condo or a minimal common element without the permission of all proprietors impacted and also the initial lien mortgagees of all influenced proprietors.

1, eff. An owner of an apartment or condo in a condo program shares possession of the program's typical components with the other apartment owners. An apartment owner might use the common elements according to their desired purposes, as revealed in the plat, statement, or bylaws of the condo regime, without conflicting with the rights of the other apartment or condo proprietors.

3620, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 108. PARTITION OF COMMON COMPONENTS. (a) The possession of the basic and the restricted typical components of a condo routine might not be judicially partitioned or split while they are ideal for a condo regimen.(b) A person may not initiate an activity for partition of the limited or general typical aspects of a condominium regimen unless the home loans on the residential or commercial property are paid or the authorization of the mortgagees is obtained.(c) An agreement unlike this area is space.

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3621, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 109. TRANSPORTATION OF COMMON ELEMENTS. An apartment or condo in a condo regimen and the wholehearted rate of interest of a house proprietor in the usual aspects of the regimen that are attributable to the home may not be communicated independently. If a conveyance of a home does not refer to the common aspects, the undivided rate of interest of the apartment proprietor in the basic as well as the restricted common aspects of the routine attributable to the home is conveyed with the apartment.

3622, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 110. TERMINATION OF CONDOMINIUM REGIMEN. (a) By consentaneous arrangement, or if the affirmation attends to termination by contract of the proprietors, by go to the website contract of the holders of a minimum of 67 percent or a stated percent in the statement, whichever is higher, of the ownership interests in the condo, the owners of a structure in a condominium program may terminate the regime as well as demand the county staff of the area in which the program is located to combine the records of the estates that consist of the condominium regimen, if any kind of financial institutions in whose behalf encumbrances versus the structure are tape-recorded concur to accept the undistracted parts of the building had by the debtors as safety, provided no modification may be made to a declaration to minimize the vote needed for discontinuation of the condo regime - new apartments greenwood.(b) If a condo regimen is terminated, each apartment owner possesses a wholehearted rate of interest in the common property that represents the undivided passion formerly possessed by the home proprietor in the usual aspects.(c) Building that has actually been removed from a condo program might be committed to an additional condo regime at any moment.


1, eff. MODIFICATION OF CONDO DECLARATION. After a condo declaration is videotaped with a region staff, the affirmation might not be changed except at a meeting of the apartment proprietors at which the modification is approved by the holders of at the very least 67 percent of the possession rate of interests in the condo.

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For the purposes of this phase, the home owners who possess at least 51 percent of the interests in a condominium regimen, as determined under the statement, are a majority of the home proprietors. (a) have a peek at these guys By resolution of a bulk of the council of proprietors or in the way supplied or needed by the declaration or bylaws, the council of proprietors might get the insurance policy you could try here it deems suitable for the defense of the buildings as well as the apartment or condo owners.(b) Insurance policy may be written in the name of the council of proprietors, or in the name of a person marked in the affirmation or bylaws, as trustee for the home owners and their mortgagees.

Unless the council of proprietors all agrees otherwise, the insurance coverage continues will be paid to the individual house proprietors or their mortgagees, as their passion might show up, in proportion to the rate of interest of a home owner in the condominium regime as established by the affirmation. 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 regime or a person assigned by the laws of the regimen will maintain a comprehensive composed account of the invoices and also expenses associated with the structure and also its administration that defines the expenses sustained by the regime.(b) The accounts and supporting coupons of a condo routine will be provided to the home owners for assessment on functioning days at convenient, established, as well as openly announced hrs.(c) The books as well as documents of a condo routine should follow excellent accounting procedures and need to be audited at least when annually by an auditor who is not connected with the condo regime.

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