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Questions and Answers
According to the text, what is the purpose of the non-exclusive easement for ingress, egress, and support through the common areas?
According to the text, what rights do condominium owners have regarding the inner surfaces of their units?
According to the text, what is the requirement for selling or disposing of a condominium?
Which document certifies the ownership of a condominium unit?
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What is the main difference between traditional ownership and condominium ownership?
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What is the purpose of Republic Act 4726?
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Which of the following is NOT considered a common area in a condominium project?
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What does the term 'Condominium Unit' refer to?
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What is the purpose of a Master Deed in a condominium project?
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What is the Condominium Project Cost?
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Which document is required by law to be recorded in the proper RD to give effect to the division of property into condominiums pursuant to the provisions of RA 4726?
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Who can purchase condominium units in a condominium project?
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What is the sharing percentage between foreigners and Filipino investments in accordance with the Condominium Act?
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What is the boundary of a granted condominium unit?
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Study Notes
Condominium Ownership
- The purpose of the non-exclusive easement for ingress, egress, and support through the common areas is to ensure access to individual units.
Rights of Condominium Owners
- Owners have exclusive rights to the inner surfaces of their units, including walls, windows, and doors.
Selling or Disposing of a Condominium
- A requirement for selling or disposing of a condominium is to secure the necessary approval from the condominium corporation.
Condominium Unit Ownership
- The Certificate of Title certifies the ownership of a condominium unit.
Difference between Traditional and Condominium Ownership
- The main difference between traditional ownership and condominium ownership is that condominium owners have shared ownership of common areas.
Purpose of Republic Act 4726
- The purpose of Republic Act 4726 is to regulate condominium ownership and to provide a framework for the ownership and management of condominium projects.
Common Areas in a Condominium Project
- The following are considered common areas: halls, corridors, stairways, and other facilities that are shared by all unit owners.
- Excluded from common areas are windows and doors of individual units.
Definition of Condominium Unit
- A Condominium Unit refers to a space in a building, whether residential or commercial, that is owned by an individual or entity.
Purpose of Master Deed
- The Master Deed serves as a document that outlines the rights and obligations of unit owners, including the description of the units and common areas.
Condominium Project Cost
- The Condominium Project Cost includes the total expenses incurred in the development and construction of the condominium project.
Recording Requirements
- The Master Deed is required by law to be recorded in the proper Register of Deeds (RD) to give effect to the division of property into condominiums.
Eligibility to Purchase Condominium Units
- Filipino citizens, corporations, and foreigners can purchase condominium units in a condominium project.
Sharing Percentage between Foreigners and Filipino Investments
- The sharing percentage between foreigners and Filipino investments is 40% foreign and 60% Filipino.
Boundary of a Granted Condominium Unit
- The boundary of a granted condominium unit is the middle of the walls, floors, and ceilings that separate the unit from other units and common areas.
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Description
Test your knowledge on tax declaration, certificate of management, and master deed in condominium ownership. Learn about tax assessment, common areas, conveyance, and more.
