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3618, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 104. APARTMENT OWNERSHIP. (a) A proprietor of a home in a condo program owns it solely, and also the owner may have, convey, or encumber the house, or subject it to judicial acts, separately of the various other homes in the condo program.(b) An individual title or rate of interest in an apartment in a condo routine is recordable.(c) The entire passion in the condominium regime shall be split among the houses.(d) An individual might have an apartment in a condo regimen collectively or alike with others.(e) A condominium organization might not change or ruin an apartment or a minimal common aspect without the permission of all owners affected and also the first lien mortgagees of all impacted owners.3620, ch. 576, Sec - apartments near greenlake. 1, eff. Jan. 1, 1984. Sec. 81. 107. INTERESTS IN COMMON ELEMENTS. A proprietor of an apartment or condo in a condo regimen shares ownership of the routine's usual aspects with the various other house owners. An apartment or condo owner might use the common elements according to their designated objectives, as shared in the plat, statement, or bylaws of the condo routine, without disrupting the legal rights of the various other house proprietors.
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1, eff. An apartment in a condominium regime and also the wholehearted passion of a home owner in the typical aspects of the regime that are attributable to the apartment or condo may not be communicated individually. If a conveyance of a house does not refer to the usual elements, the undivided interest of the apartment or condo owner in the general and the limited common components of the routine attributable to the apartment or condo is conveyed with the home.
3622, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 110. TERMINATION OF CONDOMINIUM REGIME. (a) By unanimous agreement, or if the declaration offers discontinuation by arrangement of the owners, by agreement of the owners of at least 67 percent or a specified percentage in the affirmation, whichever is higher, of the possession interests in the condominium, the owners of a building in a condominium regime might terminate the routine and also request the area staff of the area in which the program is situated to combine the records of the estates that consist of the condominium regime, if any type of lenders in whose part encumbrances versus the structure are tape-recorded accept accept the concentrated portions of the building possessed by the borrowers as safety, supplied no modification might be made to a statement to minimize the ballot required for termination of the condo regimen - apartments for rent near greenwood.(b) If a condominium program is ended, go right here each home owner possesses an undivided rate of interest in the usual home that matches to the wholehearted passion previously possessed by the apartment or condo proprietor in the usual elements.(c) Residential property that has actually been eliminated from a condo regime may be dedicated to an additional condo routine any time.
1, eff. AMENDMENT OF CONDO STATEMENT. After a condominium statement is recorded with a county staff, the statement might not be amended except at a conference of the apartment or condo proprietors at which the amendment is authorized by the owners of at least 67 percent of the possession passions in the condominium.
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3621, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 203. BALLOT MAJORITY. For the functions of this phase, the apartment proprietors who possess at the very least 51 percent of the passions in a condominium regime, as determined under the declaration, are a majority of the house owners (modern 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 majority of the council of proprietors or in the manner provided or called for by the declaration or bylaws, the council of owners may acquire the insurance coverage it deems ideal for the security of the structures as well as the home proprietors.(b) Insurance might be composed in the name of the council of proprietors, or in the name of a person marked in the affirmation or laws, as trustee for the house owners as well as their mortgagees.
Unless the council of proprietors unanimously agrees or else, the insurance policy continues will be paid to the specific home owners or their mortgagees, as their interest may appear, symmetrical to the interest of an apartment owner in the condo regimen as developed by the affirmation. Acts 1983, 68th Leg., p.
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3623, ch. navigate to this site 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 209. CONDOMINIUM DOCUMENTS. (a) The administrator or board of administration of a condo program or a person designated by the bylaws of the program will keep a comprehensive created account of the invoices and expenses associated with the structure as well as its management that defines the expenses sustained by the program.(b) The accounts as well as sustaining vouchers of a you can try these out condo program will be made offered to the apartment or condo proprietors for examination on working days at hassle-free, established, and openly revealed hrs.(c) The publications and also records of a condominium program should follow excellent audit procedures and should be investigated at the very least once annually by an auditor that is not associated with the condo regimen.
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