In this chapter:
- (1) "Business entity" means a partnership, corporation, joint venture, limited liability company, or other business organization or business association, however organized.
- (2) "Managing entity" means a business entity that owns residential property used in a residential arrangement.
- (3) "Residential arrangement" means an arrangement in which the purchaser of an interest in a business entity is entitled to exclusive possession of residential property owned by the entity as long as the purchaser holds the interest in the business entity.
- (4) "Residential property" means the real property and improvements for a single-family house, duplex, triplex, or quadruplex.
Added by Acts 2025, 89th Leg., R.S., Ch. 1096 (H.B. 4211), Sec. 1, eff. June 20, 2025.