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Current as of January 01, 2024 | Updated by Findlaw Staff
In this chapter:
(1) “Restrictions,” “residential real estate subdivision,” “subdivision,” “owner,” “real property records,” and “lienholder” have the meanings assigned by Section 201.003.
(2) “Dedicatory instrument,” “petition,” and “restrictive covenant” have the meanings assigned by Section 202.001.
(3) “Regular assessment” means an assessment, charge, fee, or dues that each owner of property within a subdivision is required to pay to the property owners' association on a regular basis and that are to be used by the association for the benefit of the subdivision in accordance with the original, extended, added, or modified restrictions.
(4) “Special assessment” means an assessment, charge, fee, or dues that each owner of property within a subdivision is required to pay to the property owners' association, after a vote of the membership, for the purpose of paying for the costs of capital improvements to the common areas that are incurred or will be incurred by the association during the fiscal year. A special assessment may be assessed before or after the association incurs the capital improvement costs.
Cite this article: FindLaw.com - Texas Property Code - PROP § 204.001. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/tx/property-code/prop-sect-204-001/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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