Tex. Prop. Code Section 81.210
Loans as Eligible Investments

(a)

If a fiduciary or a bank, savings and loan association, trust company, life insurance company, or other lending institution is authorized to make real estate loans, a loan on an apartment in a condominium regime and the undivided interest in the common elements of the regime that is appurtenant to the apartment is an eligible investment for the fiduciary or lending institution.

(b)

A lender may not consider the existence of a prior lien for taxes, assessments, or other similar charges that are not delinquent in determining whether a mortgage or deed of trust is a first lien on the security for a loan under this section.

(c)

For the purposes of this section, an apartment in a condominium regime and the undivided interest in the common elements appurtenant to the apartment are a single unit independent of the other units in the regime.

(d)

This section does not affect any otherwise applicable provision of law that limits mortgage investments based on a special fraction or percentage of the value of the mortgaged property.
Acts 1983, 68th Leg., p. 3625, ch. 576, Sec. 1, eff. Jan. 1, 1984.

Source: Section 81.210 — Loans as Eligible Investments, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­81.­htm#81.­210 (accessed Apr. 13, 2024).

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Accessed:
Apr. 13, 2024

§ 81.210’s source at texas​.gov