Condos supply conveniences that townhomes and single family houses do not. B. If the condominium instruments provide that any officer or officers must be unit owners, then notwithstanding the provisions of subsection (a) of § 55-79.50 , the time period “unit owner” in such context shall, unless the condominium devices otherwise provide, be deemed to incorporate, without limitation, any director, officer, companion in, or trustee of any particular person which is, either alone or at the side of another person or persons, a unit proprietor.
Except to the extent in any other case provided in the condominium instruments, any proxy shall be void if it’s not dated, or if it purports to be revocable without notice as aforesaid. No condominium shall come into existence except by the recordation of condominium devices pursuant to the provisions of this chapter.
C. Each merger or consolidation settlement shall provide for the reallocation of the allocated pursuits within the new unit house owners’ association among the many models of the resultant condominium both (i) by stating the reallocations or the formulation upon which they’re primarily based or (ii) by stating the percentage of the general allotted pursuits of the condominium which might be allotted to all the models comprising every of the preexisting condominiums, and supplied that the portion of the chances allotted to every unit previously comprising a part of the preexisting condominium shall be equal to the chances of allocated interests allotted to that unit by the declaration of the preexisting condominium.
Any such description shall be deemed to include the undivided curiosity within the widespread components appertaining to such unit even when such interest just isn’t outlined or referred to therein. Condominium properties are traded and mortgaged on the same markets as free standing houses, and handled very similar to other forms of real property.
(f) The decree of the court docket shall require the recordation thereof among the many land information of the city or county in which the condominium is located. From full-size living rooms, separate bedrooms, and spacious walk-out balconies, our South Padre Island beachfront condos are the last word in trip residing.