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(a) A proprietor of an apartment or condo in a condominium routine owns it exclusively, as well as the owner might have, communicate, or overload the house, or subject it to judicial acts, independently of the various other houses in the condominium regimen.(b) A private title or passion in an apartment or condo in a condominium program is recordable.(c) The entire passion in the condominium routine will be divided amongst the apartments.

3620, ch. 576, Sec - modern apartments greenwood. 1, eff. Jan. 1, 1984. Sec. 81. 107. RATE OF INTERESTS ALIKE ASPECTS. An owner of an apartment or condo in a condominium regime shares ownership of the regime's common elements with the various other home proprietors. A home proprietor might utilize the usual components according to their desired functions, as expressed in the plat, declaration, or bylaws of the condo regimen, without hindering the rights of the other home proprietors.

1, eff. (a) The ownership of the general and the restricted usual elements of a condo regimen may not be judicially partitioned or split while they are suitable for a condo routine.(b) An individual might not start an activity for dividers of the minimal or general typical aspects of a condo regime unless the mortgages on the building are paid or the authorization of the mortgagees is gotten.

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1, eff. A house in a condo regimen as well as the undistracted interest of a house owner in the usual components of the regimen that are attributable to the apartment or condo may not be shared individually. If a conveyance of a house does not refer to the common aspects, the wholehearted passion of the house owner in the general and the restricted usual elements of the routine attributable to the home is communicated with the home.

3622, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 110. TERMINATION OF CONDO PROGRAM. (a) By consentaneous arrangement, or if the statement attends to termination by arrangement of the proprietors, by contract of the owners of a minimum of 67 percent or a specified portion in the declaration, whichever is higher, of the possession rate check here of interests in the condominium, the owners of a building in a great post to read condominium regimen may terminate the routine and demand the county staff of the area in which the routine lies to merge the records of the estates that comprise the condo regimen, if any kind of lenders in whose part encumbrances versus the building are videotaped concur to accept the concentrated parts of the residential or commercial property had by the borrowers as safety and security, gave no change might be made to a statement to reduce the ballot required for termination of the condominium program - modern apartments greenwood.(b) If a condominium regimen is terminated, each house owner has an undistracted passion in the common residential or commercial property that represents the wholehearted passion formerly owned by the house owner in the typical aspects.(c) Residential property that has actually been eliminated from a condo regime may be committed to an additional condo program at any type of time.


1, eff. CHANGE OF CONDO AFFIRMATION. After a condominium statement is videotaped with a county clerk, the statement might not be amended except at a meeting of the home proprietors at which the change is accepted by the owners of at the very least 67 percent of the possession interests in the condominium.

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For the functions of this chapter, the home proprietors that own at least 51 this post percent of the passions in a condominium routine, as identified under the statement, are a bulk of the home owners. (a) By resolution of a majority of the council of owners or in the way provided or needed by the affirmation or bylaws, the council of owners might obtain the insurance it deems ideal for the security of the buildings and also the home owners.(b) Insurance policy might be created in the name of the council of proprietors, or in the name of an individual marked in the affirmation or bylaws, as trustee for the apartment or condo proprietors as well as their mortgagees.

Unless the council of proprietors unanimously agrees otherwise, the insurance proceeds shall be paid to the private house owners or their mortgagees, as their rate of interest may appear, in percentage to the passion of a house owner in the condominium program 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 manager or board of management of a condo routine or a person assigned by the bylaws of the program will maintain a detailed composed account of the invoices and expenses related to the building and also its administration that defines the costs sustained by the routine.(b) The accounts as well as sustaining coupons of a condo program will be provided to the apartment proprietors for evaluation on working days at convenient, recognized, as well as openly revealed hours.(c) Guides as well as documents of a condominium regime need to abide by great accounting treatments and also need to be examined at the very least when each year by an auditor who is not related to the condominium regime.

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