Texas Property Code 82.069 – Rights of Secured Lenders
Current as of: 2024 | Check for updates
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Terms Used In Texas Property Code 82.069
- Association: means the unit owners' association organized under § 82. See Texas Property Code 82.003
- Board: means the board of directors or the body, regardless of name, designated to act on behalf of the association. See Texas Property Code 82.003
- Declaration: means an instrument, however denominated, that creates a condominium, and any amendment to that instrument. See Texas Property Code 82.003
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Unit: means a physical portion of the condominium designated for separate ownership or occupancy, the boundaries of which are described by the declaration. See Texas Property Code 82.003
The declaration may require that all or a specified number or percentage of the mortgagees or beneficiaries of deeds of trust encumbering the units approve specified actions of the unit owners or the association as a condition to the effectiveness of those actions, but a requirement for approval may not operate to:
(1) deny or delegate control over the general administrative affairs of the association by the unit owners or the board; or
(2) prevent the association or the board from:
(A) commencing, intervening in, or settling any litigation or proceeding; or
(B) receiving and distributing insurance proceeds under § 82.111.