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3618, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 104. APARTMENT POSSESSION. (a) An owner of a house in a condominium routine owns it exclusively, as well as the owner might have, communicate, or overload the apartment, or subject it to judicial acts, individually of the various other apartments in the condo regime.(b) An individual title or passion in a house in a condo program is recordable.(c) The entire interest in the condo routine shall be separated amongst the apartment or condos.(d) An individual might possess a house in a condominium regimen jointly or in common with others.(e) A condo association may not alter or damage a house or a minimal typical aspect without the approval of all owners influenced as well as the first lien mortgagees of all influenced proprietors.


3620, ch. 576, Sec - apartments for rent near greenwood. 1, eff. Jan. 1, 1984. Sec. 81. 107. RATE OF INTERESTS ALIKE ASPECTS. A proprietor of an apartment in a condo routine shares ownership of the regime's usual elements with the other apartment owners. An apartment owner might make use of the common aspects according to their desired purposes, as revealed in the plat, affirmation, or bylaws of the condo regimen, without hindering the civil liberties of the various other apartment proprietors.




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3620, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 108. DIVIDING OF COMMON ELEMENTS. (a) The ownership of the general as well as the minimal common elements of a condominium routine might not be judicially segmented or separated while they appropriate for a condominium regime.(b) A person might not launch an activity for dividers of the restricted or general typical aspects of a condominium program unless the home mortgages on the property are paid or the permission of the mortgagees is gotten.(c) An agreement in contrast to this section is gap.




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1, eff. An apartment in a condominium regimen and the concentrated passion of an apartment or condo proprietor in the typical elements of the routine that are attributable to the house might not be shared individually. If a conveyance of a house does not refer to the typical elements, the undistracted rate of interest of the house owner in the general and the minimal typical aspects of the regimen attributable to the home is conveyed with the apartment.


(a) By consentaneous arrangement, or if the declaration offers for discontinuation by arrangement of the owners, his explanation by contract of the owners of at least 67 percent or a specified percent in the declaration, whichever is higher, of the ownership interests in the condominium, the owners of a structure in a condo regime may terminate the routine and also demand the area staff of the area in which the regimen is situated to combine the documents of the estates that consist of the condo regimen, if any kind of financial institutions in whose behalf encumbrances versus the structure are videotaped concur to approve the concentrated sections of the home had by the debtors as safety, supplied no change may be made to a statement to lower the vote required for discontinuation of the condo regime.(b) If a condominium program is terminated, each home proprietor possesses an undistracted interest in the usual home that corresponds to the undivided interest formerly possessed by the apartment proprietor in the usual aspects.(c) Residential or commercial property that has actually been gotten rid of from a condominium program might be devoted to one more condo regimen at any type of time.




 


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. MODIFICATION OF CONDO STATEMENT. After a condo statement is tape-recorded with a county staff, the statement might not be amended except at a conference of the apartment or condo proprietors at which the modification is approved by the holders of a minimum of 67 percent of the ownership interests in the condo.




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For the purposes of this phase, the house proprietors that have at the very least 51 percent of the interests in a condominium program, as determined under the affirmation, are a majority of the apartment owners. (a) By resolution of a bulk of the council of owners or in the way look what i found offered or required by the affirmation or laws, the council of proprietors might More about the author acquire the insurance policy it considers suitable for the security of the structures and also the apartment proprietors.(b) Insurance policy may be created in the name of the council of proprietors, or in the name of an individual marked in the statement or bylaws, as trustee for the house owners as well as their mortgagees.


Unless the council of owners all agrees otherwise, the insurance proceeds shall be paid to the private apartment proprietors or their mortgagees, as their rate of interest might show up, symmetrical to the passion of an apartment proprietor in the condominium regimen as developed 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 DOCUMENTS. (a) The administrator or board of management of a condominium routine or a person appointed by the laws of the program shall keep a detailed written account of the receipts and also expenses related to the structure and its administration that defines the expenditures sustained by the regime.(b) The accounts and also supporting vouchers of a condo routine shall be provided to the home proprietors for examination on functioning days at hassle-free, well established, as well as publicly revealed hours.(c) The publications as well as documents of a condo program need to abide by great accountancy treatments and also must be audited at the very least as soon as yearly by an auditor who is not associated with the condo program.

 

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