This form is a Master Deed. This Master Deed is executed by a developer pursuant to the provisions of the Condominium Act. The deed contains a legal description of the project and the responsibilities of the co-owner.
Texas Condominium Master Deed - Residential Condo Development
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FAQ
Each unit in the condominium is considered a separate parcel of real estate, and each owner holds a fee simple title to his or her unit. The owner of a condo unit has a deed for their property just like the owner of a single family home or any other type of real estate.
The condominium association owns the land, building, and amenities, and the residents own just their individual units plus an interest in the association. This interest gives them some power over decisions that affect the entire complex, but not absolute power like they'd have if they owned the complex outright.
Section 82.1141 - Access to Association Records (a) This section applies to all associations governed by this chapter and controls over other law not specifically applicable to an association.
Unlike apartments, which are leased by their tenants, in most systems condominium units are owned outright, and the owners of the individual units also collectively own the common areas of the property, such as the exterior of the building, roof, corridors/hallways, walkways, and laundry rooms, as well as common ...
Section 82.153(c) requires the declarant to promptly amend the condominium information statement to reflect material and substantial contents.
Owners of condos receive a deed for their unit just like if they bought a house. They also own their unit in fee simple, which is the least restrictive form of real estate ownership recognized by law.
Landominium refers to a unit, built as part of a residential development, whose owner owns both the unit and the land on which it is built. It is a portmanteau of "land" and "condominium."
Master deed. This is a deed filed by a condominium owner to record the property and allow sales of the individual condos and use of communal areas by owners.
