Subdivision and Condominium Development EXAM

The law governing the protection of buyers who are buying subdivision lots/house & lots and condominium units is referred to as

Subdivision and Condominium Buyers' Protective Decree (PD 957)

The law governing the protection of buyers who are buying subdivision lots/house & lots and condominium units is referred to as

National Housing Authority

It is the National Government agency asked to provide responsive housing programs primarily to homeless low-income with access to social and economic opportunities.

Housing and Land Use Regulatory Board

Homeowners Associations must register presently with this government agency

Subdivision and Housing Development Association

is not an attached agency of the HUDCC

Housing and Urban Development Coordinating Council

Under the present set-up, the highest policy making body for housing is:

Certificate of Registration

Under PD 957, a corporation which intends to develop a subdivision must first obtain the following from HLURB:

Maceda Law (RA 6552)

Rodrigo bought a lot on installment for 10 years, but after 6 years failed to pay his monthly amortization. His right shall be governed by:

Subdivision Project

It is defined under PD 957 as a parcel of land primarily partitioned for residential purposes imto individual lots, with or without improvements.

Complex subdivision plan

A subdivision plan of a registered land wherein a street, passageway, or open space delineated on the plan is a:

Socialized Housing

It refers to housing programs and projects covering houses and lots or home lots only undertaken by the government or the private sector for the underprivileged and homeless citizens which shall include sites and services.

It is for announcement purposes only

Developer RRC may publish the advertisment of thier project without a license to sell provided that:

30%

PD 1216 requires subdivision owners to provide adequate roads, alleys, sidewalks, and reserved open spaces for parks or recreational use of the total area of a subdivision project equivalent to at least:

Licensed Real Estate Brokers and accredited real estate salespersons

The following are required to register with HLURB to sell subdivision lots or condominium projects:

Real Estate Dealer

It shall mean any person directly engaged as principal in the business of selling, or exchanging real estate whether on full-time or part-time basis:

Locational clearance

CCA Realty obtained a written authorization to develop ina certain area based on an approved land use plan or ordinance referred to as:

P400,000

If one wants to venture into socialized housing, the selling amount for socialized housing consisting of house and lots shall be:

20%

Section 18 of RA 7279 requires subdivision developers to provide for socialized housing based on project area or cost in the amount of:

Future development not covered by license to sell

What should not be included in the advertisments of the developer of a subdivision project?

Work under a real estate broker and register with HLURB

Sally wanted to sell condominium units in a condo project near her house, she must therefore:

Sale of a subdivision lot by the original purchaser thereof

The following is exempted from getting a registration certificate and license to sell from HLURB:

Complaint by buyer against non-completion of project

A complaint may be filed with the HLURB for the following instance

Republic of the Philippines

The performance bond required by PD 957 from a developer shall be made payable to":

Verified complaint by the buyer

A license to sell issued to a developer may be suspended motu proprio by the HLURB or by:

Developer has another pending case with HLURB

A certificate of registration of the developer may be revoked by HLURB except in the following instance:

Housing and Land Use Regulatory Board (HLURB)

OGC Properties wanted to borrow from the bank for development and may do so only with the approval of:

Cease and desist order

When it shall appear that a person about to engage in any act or practice which constitute or will constitute a violation of provisions of PD 957, it may, upon due notice and hearing, issue a:

Void as to the whole mortgage

In case a developer mortgaged the project without approval from HLURB, and a buyer complained, the mortgage shall be:

Realty Installment Buyers’ Protective Act (RA 6552)

A buyer who failed to pay the installments due for reasons other than the failure of the owner or developer to develop the project shall be governed by

Full payment of the lot or unit

Under PD 957, owner or developer shall deliver the title of the lot to the buyer upon:

For as long as the title has not passed to the buyer

Joan bought a house and lot in a subdivision and real estate tax and assessment on the house and lot shall be paid by the developer…

Homeowners’ Association

Certificate of Completion

10 hectares

P10,000

Fine of not more than P20,000

Not more than 10 years

1976

400 meters

Approval of subdivision plan

120 sqms.

4 meters

20 units per block/cluster

150 liters per capita per day

Block

Condominium project

Dwelling

Single detached

Duplex

Firewall

Corner lot

Irregular lot

Affordable cost

64 square meters

3.5 meters

Alley

Quasi-judicial

Cluster housing

Shell house

Complete house

3 meters

Amortization interests but include delinquency interests, which interest thereon at the legal rate

Give notice to the developer

Magna Carta for Homeowners’ and Homeowners’ Associations

50% plus 1

Housing and Land Use Regulatory Board

Propose measures to raise funds

Petition signed by simple majority

Signed petition of at least 2/3 of the association members

3 years

Fine of not less than P5,000 but not more than P50,000

Subdivision and Condominium Buyer’s Protective Degree (PD 957)

Equal share

Provision for Management body of the project

Coterminous with the life of the project

40% of the units

Condominium Certificate of Title

Condominium

Based on the number of bedrooms per unit

Condominium house rules and regulations

At least one foreigner owns a unit

60% of the units

On the taxes on his unit

All the members of the condominium corporation

Condominium unit

Master Deed

Hold title to the land of the condominium project

To pay for share in insurance of the condo project

Per unit floor area

Provision for right of first refusal

A notice of assessment is registered with the Register of Deeds

Common Areas

50%

Certificate of Management

Master Deed

General common area

The Condominium Act (RA 4726)

Limited common area

Unit will be sold to foreigners

City engineer

30% interest