Texas Property Code 82.153 – Condominium Information Statements in General
(a) A condominium information statement must contain or accurately disclose:
(1) the name and principal address of the declarant and of the condominium;
(2) a general description of the condominium that includes the types of units and the maximum number of units;
(3) the minimum and maximum number of additional units, if any, that may be included in the condominium;
(4) a brief narrative description of any development rights reserved by a declarant and of any conditions relating to or limitations upon the exercise of development rights;
(5) copies of the declaration, articles of incorporation of the association, the bylaws, any rules of the association, and amendments to any of them, and copies of leases and contracts, other than loan documents, that are required by the declarant to be signed by purchasers at closing;
(6) a projected or pro forma budget for the association that complies with Subsection (b) for the first fiscal year of the association following the date of the first conveyance to a purchaser, identification of the person who prepared the budget, and a statement of the budget’s assumptions concerning occupancy and inflation factors;
(7) a general description of each lien, lease, or encumbrance on or affecting the title to the condominium after conveyance by the declarant;
(8) a copy of each written warranty provided by the declarant;
(9) a description of any unsatisfied judgments against the association and any pending suits to which the association is a party or which are material to the land title and construction of the condominium of which a declarant has actual knowledge;
(10) a general description of the insurance coverage provided for the benefit of unit owners;
(11) current or expected fees or charges to be paid by unit owners for the use of the common elements and other facilities related to the condominium; and
(12) for a condominium located wholly or partly in a municipality with a population of more than 1.9 million a statement that a unit owner:
(A) as an alternative to personal service, may be served with process by the municipality or the municipality’s agent for a judicial or administrative proceeding initiated by the municipality and directly related to the unit owner’s property interest in the condominium by serving the unit owner at the unit owner’s last known address, according to the records of the appraisal district in which the condominium is located, by any means permitted by Rule 21a, Texas Rules of Civil Procedure;
(B) shall notify the appraisal district in writing of a change in the unit owner’s mailing address not later than the 90th day after the date the unit owner changes the address; and
(C) may not offer proof in the judicial or administrative proceeding, or in a subsequent related proceeding, that otherwise proper service by mail of the notice was not received not later than three days after the date the notice was deposited in a post office or official depository under the care and custody of the United States Postal Service.
(b) A budget under Subsection (a)(6) must be prepared in accordance with generally accepted accounting principles and a consideration of the physical condition of the condominium and be based on assumptions that, to the best of the declarant’s knowledge and belief, are reasonable. The budget must include:
(1) a statement of the amount included, or a statement that no amount is included, in the budget as a reserve; and
(2) the projected monthly common expense assessment for each type of unit.
Terms Used In Texas Property Code 82.153
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Appraisal: A determination of property value.
- Association: means the unit owners' association organized under § 82. See Texas Property Code 82.003
- Common elements: means all portions of a condominium other than the units and includes both general and limited common elements. See Texas Property Code 82.003
- Condominium: means a form of real property with portions of the real property designated for separate ownership or occupancy, and the remainder of the real property designated for common ownership or occupancy solely by the owners of those portions. See Texas Property Code 82.003
- Declarant: means a person, or group of persons acting in concert, who:
(A) as part of a common promotional plan, offers to dispose of the person's interest in a unit not previously disposed of; or
(B) reserves or succeeds to any special declarant right. 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
- Development rights: means a right or combination of rights reserved by a declarant in the declaration to:
(A) add real property to a condominium;
(B) create units, common elements, or limited common elements within a condominium;
(C) subdivide units or convert units into common elements; or
(D) withdraw real property from a condominium. See Texas Property Code 82.003 - Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
- Purchaser: means a person, other than a declarant, who by means of a voluntary transfer acquires a legal or equitable interest in a unit other than a leasehold interest or as security for an obligation. See Texas Property Code 82.003
- Rule: includes regulation. See Texas Government Code 311.005
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
- 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
- Unit owner: means a declarant or other person who owns a unit, or a lessee of a unit in a leasehold condominium whose lease expires simultaneously with any lease the expiration or termination of which will remove the unit from the condominium, but does not include a person having an interest in a unit solely as security for an obligation. See Texas Property Code 82.003
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) A declarant shall promptly amend the condominium information statement to reflect a material and substantial change in its contents. If the change may adversely affect a prospective purchaser who has received a condominium information statement, the declarant shall furnish a copy of the amendment to the prospective purchaser before closing.