Condominium Law and Regulations Quiz

A condominium corporation can exist indefinitely unless its articles of incorporation specify a limited lifespan.

If a condominium corporation is dissolved against its will, the common areas are divided among the members or stockholders proportional to their ownership.

The transfer of common areas to members or stockholders upon a condominium corporation's involuntary dissolution is a full liquidation of their ownership.

After the transfer of common areas, the Condominium Act applies to the new co-ownership arrangement.

A condominium corporation can't be voluntarily dissolved unless a significant event occurred at least 3 years ago, namely damage or destruction of common areas.

A Presidential Decree enacted in 1976 to regulate the real estate subdivision and condominium business, aiming to protect homebuyers from fraudulent practices.

The Housing and Land Use Regulatory Board, now known as DHSUD, was given exclusive jurisdiction to oversee the real estate trade according to PD 957.

PD 957 aims to regulate the real estate subdivision and condominium business, protect homebuyers from fraud, and ensure ethical practices in the industry.

The 'Revised Implementing Rules and Regulations' for PD 957, approved in 2001, outline the specific procedures and requirements for the real estate business.

The HLURB, or the Housing and Land Use Regulatory Board (now the DHSUD), is responsible for enforcing the provisions of PD 957 and its RIRR.

A detailed drawing showing how a large parcel of land will be divided into smaller lots, including roads, utilities, and open spaces.

Permission granted by a city or municipality allowing the owner or developer to start building a subdivision project.

The Department of Human Settlements and Urban Development, responsible for regulating and approving subdivision and condominium projects.

A detailed plan that shows how a building will be divided into individual units, including common areas and ownership rights.

A formal document issued by the DHSUD certifying a subdivision or condominium project's viability and the developer's capability.

Permission from DHSUD to sell lots or units in a subdivision or condominium project that meets minimum standards.

Specific requirements for lot sizes, floor areas, open spaces, and infrastructure (roads, utilities) in subdivision and condominium projects.

The registered owner submits a Subdivision Plan (SP) to the city/municipality for a Development Permit (DP) and then to the DHSUD for approval, followed by the Director of Lands for final approval.

A Philippine law defining and regulating condominiums, enacted in 1966.

An interest in real property with a separate unit (like an apartment) and an undivided share of common areas like the land and building.

The legal document required to be registered for a property division into condominiums, according to the Condominium Act.

The Condominium Act only applies to properties where the enabling or master deed is registered with the Register of Deeds. This registration and an annotation on the land’s certificate of title is required.

This order incentivizes developers to comply with balanced housing development programs by amending sections of HLURB Resolution No. 965.

This circular adjusts the maximum price allowed for socialized housing projects (subdivisions and condominiums).

This resolution covers rent control for the period of January 1, 2024 to December 31, 2024.

This circular aims to streamline and standardize housing regulations and procedures, including those related to Homeowners' Associations.

A buyer can fully refund the payments made for a subdivision or condominium project, including interest, if the developer fails to complete the project within the regulation period approved by the DHSUD.

A law enacted on July 12, 1976, that protects homebuyers from unscrupulous developers and strengthens the regulatory framework of the real estate industry.

The Housing and Land Use Regulatory Board (HLURB) was initially tasked with regulating the real estate trade and business under PD 957. This responsibility was transferred to the Department of Human Settlements and Urban Development (DHSUD) after the enactment of RA 11201.

PD 957 was created to protect buyers from unscrupulous real estate businesses and ensure that developers fulfill their obligations, including delivering titles, providing infrastructure, and maintaining amenities.

Developers are obligated to deliver titles upon full payment, provide essential infrastructure like roads and utilities, and maintain these amenities to ensure a habitable community.

Real estate businesses, like developers, salesmen, and brokers, sometimes break their promises to buyers, failing to deliver titles or proper infrastructure, and leaving buyers with incomplete and unlivable properties or even losing their money.

PD 957 safeguards buyers of subdivisions and condominiums, ensuring their rights and interests are protected against unfair practices by developers.

If a developer fails to fulfill their obligations, such as delivering titles on time or providing adequate infrastructure, buyers may have the right to claim a full refund of their payments plus interest, under PD 957.

A condominium corporation can be voluntarily dissolved under several circumstances, including: - Significant damage or destruction rendering the property unfit for use. - More than 50% of the units becoming untenantable. - The property being over 50 years old, obsolete, and uneconomical. - Condemnation or expropriation of the property making it non-viable. - Fulfillment of specific dissolution conditions outlined in the declaration of restrictions.

A condominium corporation can be dissolved if more than 30% of the members or shareholders oppose repairing or reconstructing the project after significant damage or destruction has rendered more than half the units untenantable.

A condominium project over 50 years old can be dissolved if it's considered obsolete and uneconomical, and more than 50% of the members or shareholders oppose necessary repairs, renovations, or modernizations.

A condominium corporation can be dissolved if a material portion of the project is condemned or expropriated, either because the project is no longer viable or because more than 70% of the members oppose continuing the condominium regime.

A condominium corporation can be voluntarily dissolved if specific conditions for dissolution outlined in the declaration of restrictions are met.

A condominium corporation can be dissolved with the unanimous affirmative vote of all stockholders or members at a general or special meeting called for this purpose, as long as the requirements of the Revised Corporation Code are met.

During voluntary dissolution, unless specified otherwise in the Deed of Restrictions, the corporation is deemed to hold a power of attorney from all members to sell their separate interests in the project.

The liquidation of a dissolved condominium corporation is typically achieved by selling the entire project, subject to the rights of individual creditors.