Condominium

The owner of a unit within a condominium project owns the interior or “air space” of their unit.  The land and common areas are owned collectively by all the unit owners within the condominium association.  The individual condo owners pay condo fees which cover maintenance cost, amenities and the upkeep of common spaces.  The Texas Condominium Act is Chapter 82 of the Texas Property Code.  Failure to pay condo fees can result in a lien on an individual condo in favor of the condominium association which is superior to the lien of the condo mortgage lender.