General and Special Laws of The State of Texas Passed By The Third Called Session of the Fifty-Seventh Legislature and the Regular Session of the Fifty-Eighth Legislature Page: 511
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CONDOMINIUM ACT
Sec. 17. The laws relating to home exemptions from property taxes
shall be applicable to the individual apartments, which shall be entitled
to home exemptions in those cases where the owner of a single family
dwelling would qualify.
Sec. 18. Upon the sale or conveyance of an apartment, all unpaid
assessments against a co-owner for his pro-rata share in the expenses to
which Section 15 refers shall first be paid out of the sale price or by the
purchaser in preference over any other assessments or charges of what-
ever nature except the following:
(a) Assessments, liens, and charges in favor of the state and any
political subdivision thereof for taxes past due and unpaid on the apart-
ment; and
(b) Amounts due under mortgage instruments duly recorded.
Sec. 19. The co-owners may, upon resolution of a majority, or if
required or provided for in the declaration or the by-laws, insure the
building and the owners thereof against risks of whatsoever character
without prejudice to the right of each co-owner to insure his apartment
on his own account and for his own benefit. Such insurance may be writ-
ten in the name of the council of co-owners, or any person designated in
the by-laws or declaration, as trustee for each apartment owner and each
apartment owner's mortgagee, if any. Each co-owner and his mortgagee,
if any, shall be a beneficiary, even though not named, in the percentages
or fractions established in the declaration.
Sec. 20. In case of fire or any other disaster, the insurance indemnity
shall, except as provided in the next succeeding paragraph of this sec-
tion, be applied to reconstruct the building.
Reconstruction shall not be compulsory where it comprises the whole
or more than two-thirds (%) of the building as determined by the council
of co-owners. In such case, and unless otherwise unanimously agreed
upon by the co-owners, the indemnity shall be delivered pro-rata to the
co-owners or their mortgagees, as their interest may appear, entitled to
it in accordance with the percentages or fractions set forth in the declara-
tion.
Should it be proper to proceed with the reconstruction, the provisions
for such eventuality made in the by-laws shall be observed, or in lieu there-
of, the decision of the council of co-owners shall prevail.
Sec. 21. Where the insurance indemnity is insufficient to cover the
cost of reconstruction and reconstruction is required by Section 20, the
building costs in excess of the insurance proceeds shall be paid by all the
co-owners directly affected by the damage, in proportion to the percent-
ages or fractions assigned to their respective apartments, or as may be
provided by said by-laws; and if any one or more of those composing the
minority shall refuse to make such payments the majority may proceed
with the reconstruction at the expense of all the co-owners benefited there-
by, upon proper resolution setting forth the circumstances of the case and
the cost of the work.
The provisions of this section may be changed by unanimous resolu-
tion of the parties concerned, adopted subsequent to the date on which
the fire or other disaster occurs.
Sec. 22. Taxes, assessments and other charges of this state, or of
any political subdivision, or of any special improvement district, or any
other taxing or assessing authority shall be assessed against and collected
on each individual apartment, which shall include the garage and its
percentage or fractional common elements, each of which shall be carried
on the tax books as a separate and distinct entity for that purpose, and
Snot on the building or property as a whole. The valuation of the general
and limited common elements shall be assessed separately to each owner
.511Ch. 191
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Texas. Legislature. General and Special Laws of The State of Texas Passed By The Third Called Session of the Fifty-Seventh Legislature and the Regular Session of the Fifty-Eighth Legislature, legislative document, 1963; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth221759/m1/847/?rotate=90: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.