Tex. Prop. Code § 82.164 · Subchapter D. PROTECTION OF PURCHASERS
LOANS AS ELIGIBLE INVESTMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A loan on a condominium unit and the undivided interest in the common elements is an eligible investment for a bank, savings and loan association, trust company, life insurance company, or other lending institution that is authorized to make real property loans, and for an administrator, guardian, executor, trustee, individual, partnership, corporation, or other fiduciary that is authorized to make real property loans. In determining eligibility, the existence of a prior lien for taxes, assessments, or other similar charges not yet delinquent may not be considered in determining whether a mortgage or deed of trust on the security is a first lien. This section does not change any provision of law that would otherwise be applicable that limits mortgage investments based on a special fraction or percentage of the value of the mortgaged property.
(b) An association's lien for assessments does not make a condominium unit ineligible for loans for which the unit would otherwise qualify.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 244, Sec. 1, eff. Jan. 1, 1994.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/PR/htm/PR.82.htm
- Text hash
- sha256 b752d9cace2fa3e6655e7982bca661c1917366f68a33e05020f46df97a828cec
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.