Texas Finance Code 64.103 – Transactions Relating to Association’s Real Property
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Finance Code 64.103
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: means real and personal property. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
On authorization by the association’s board of directors, an association may sell, convey, exchange for other real property, lease, improve, repair, or mortgage real property.