Master Deed Contents
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Questions and Answers

What is the primary purpose of the Master Deed in a condominium project?

  • To outline the duties and responsibilities of the condominium corporation's board of directors
  • To provide a detailed description of the property and its components (correct)
  • To outline the rules and regulations of the condominium corporation
  • To establish the financial obligations of the condominium owners

    • What must be appended to the Master Deed as integral parts thereof?

  • A certificate of title and a list of the condominium owners
  • A site plan of the property and a detailed specification of the building materials
  • A floor plan of each unit and a survey plan of the property
  • A diagrammatic floor plan of the building and a survey plan of the land (correct)

    • What is the purpose of the certificate of the registered owner and lien holders in the Master Deed?

  • To certify their consent to the registration of the Master Deed (correct)
  • To provide a detailed description of the common areas and facilities
  • To outline the process for resolving disputes among condominium owners
  • To establish the ownership structure of the condominium corporation

    • What is the primary purpose of Section 4 of Republic Act No. 4726?

    <p>To amend the section on the rights of condominium owners</p> Signup and view all the answers

    What type of restriction is allowed in the Master Deed?

    <p>Any reasonable restriction not contrary to law, morals, or public policy</p> Signup and view all the answers

    What is the purpose of describing the common areas and facilities in the Master Deed?

    <p>To define the boundaries of the common areas and facilities</p> Signup and view all the answers

    What must be stated in the Master Deed regarding the interest acquired by the purchaser?

    <p>The exact nature of the interest acquired in the separate units and common areas</p> Signup and view all the answers

    What is the purpose of stating the purposes for which the building or units are intended or restricted as to use?

    <p>To outline the permitted uses of the units and common areas</p> Signup and view all the answers

    What is required for the amendment or revocation of the enabling or master deed?

    <p>Simple majority of the registered owners of the property</p> Signup and view all the answers

    What is included in the transfer or conveyance of a unit or an apartment?

    <p>All of the above</p> Signup and view all the answers

    What is the restriction on the ownership of common areas in a condominium project?

    <p>At least 60% of the capital stock must belong to Filipino citizens</p> Signup and view all the answers

    What is required for the validity of a transfer or conveyance of a unit?

    <p>The concomitant transfer of the appurtenant membership or stockholding in the corporation</p> Signup and view all the answers

    How do you check the citizenship shareholdings of owners in a condominium unit?

    <p>Through a Certificate of Management</p> Signup and view all the answers

    What determines the boundary of a unit in a condominium?

    <p>The interior surfaces of the perimeter walls, floors, ceilings, windows and doors</p> Signup and view all the answers

    What is not part of the unit in a condominium?

    <p>All of the above</p> Signup and view all the answers

    What is required for the registration of an amendment or revocation of the enabling or master deed?

    <p>Approval from the Housing and Land Use Regulatory Board and the city/municipal engineer</p> Signup and view all the answers

    In a mixed-use condominium project, how is a simple majority determined?

    <p>On a floor area of ownership basis</p> Signup and view all the answers

    What is a requirement for the transfer or conveyance of a unit in a condominium project where the common areas are owned by a corporation?

    <p>The concomitant transfer of the appurtenant membership or stockholding in the corporation</p> Signup and view all the answers

    What is included in the common area of a condominium unit?

    <p>The interior surfaces of the perimeter walls, floors, ceilings, windows and doors, and other areas of common use</p> Signup and view all the answers

    What happens to the easement in the air space when the unit is destroyed and rendered untenantable?

    <p>It is automatically terminated</p> Signup and view all the answers

    How are the common areas held by the unit owners?

    <p>In equal shares, one for each unit</p> Signup and view all the answers

    What right does each condominium owner have with respect to his unit?

    <p>The right to mortgage, pledge or encumber his unit</p> Signup and view all the answers

    Under what condition can a condominium project be partitioned by sale?

    <p>All of the above</p> Signup and view all the answers

    What is the purpose of the Right of First Refusal?

    <p>To give a specific party the right to purchase a unit before it is offered to outside parties</p> Signup and view all the answers

    Can the common areas be judicially partitioned?

    <p>No, except in certain circumstances</p> Signup and view all the answers

    Do condominium owners have the right to decorate the common areas?

    <p>Each condominium owner has the exclusive right to decorate the inner surfaces of the walls, ceilings, floors, windows and doors bounding his own unit</p> Signup and view all the answers

    Can a unit owner mortgage his unit independently of the other units?

    <p>Yes, each unit owner can mortgage his unit independently</p> Signup and view all the answers

    Do condominiums only have a duration of 50 years under the law?

    <p>No, there is no specific duration for condominiums under the law</p> Signup and view all the answers

    What is the purpose of the condominium corporation?

    <p>To hold the common areas and manage the project</p> Signup and view all the answers

    What is the effect of a member ceasing to own a unit in the project?

    <p>They automatically cease to be a member of the condominium corporation</p> Signup and view all the answers

    What is the term of a condominium corporation?

    <p>Co-terminus with the duration of the condominium project</p> Signup and view all the answers

    What happens to the common areas in case of involuntary dissolution of a condominium corporation?

    <p>They are transferred pro-indiviso to the members or stockholders</p> Signup and view all the answers

    What is a requirement for amending restrictions on a condominium project?

    <p>A majority in interest of the owners</p> Signup and view all the answers

    What can be conditioned upon failure to rebuild within a certain period?

    <p>The right to partition or dissolution of the project</p> Signup and view all the answers

    What is a purpose of the condominium corporation?

    <p>To hold the common areas and manage the project</p> Signup and view all the answers

    Under what circumstances can the condominium corporation's by-laws contain provisions contrary to this Act?

    <p>Never</p> Signup and view all the answers

    What is the purpose of an independent audit of the condominium corporation's accounts?

    <p>To ensure the management body's accountability</p> Signup and view all the answers

    What can be subordinated to other liens?

    <p>The liens securing assessments</p> Signup and view all the answers

    Under what circumstance shall a condominium be partitioned and demolished?

    <p>When the condominium has been obsolete; uneconomic; and more than 50% of shareholders opposed the repair, restoration or remodelling</p> Signup and view all the answers

    What is the purpose of registering a DECLARATION OF RESTRICTIONS?

    <p>To provide a lien upon each condominium in the project</p> Signup and view all the answers

    Who can enforce the liens specified in the DECLARATION OF RESTRICTIONS?

    <p>Any condominium owner in the project</p> Signup and view all the answers

    What may be included in the DECLARATION OF RESTRICTIONS?

    <p>All of the above</p> Signup and view all the answers

    What is the purpose of Section 9 of the Act?

    <p>To provide for the registration of the DECLARATION OF RESTRICTIONS</p> Signup and view all the answers

    What is the purpose of the management body of the project?

    <p>To enforce the provisions of the DECLARATION OF RESTRICTIONS</p> Signup and view all the answers

    What is the purpose of the power of attorney granted to the management body?

    <p>To sell the entire project for the benefit of all the owners</p> Signup and view all the answers

    Under what circumstance can the management body reconstruct a portion of the project?

    <p>When the project has been damaged or destroyed</p> Signup and view all the answers

    What is the purpose of the insurance policies specified in the DECLARATION OF RESTRICTIONS?

    <p>To insure the condominium owners against loss by fire, casualty, liability, workmen's compensation, and other insurable risks</p> Signup and view all the answers

    Who can be part of the management body of the project?

    <p>The condominium corporation, an association of the condominium owners, a board of governors elected by condominium owners, or a management agent elected by the owners or the board</p> Signup and view all the answers

    Under what condition can a condominium corporation be voluntarily dissolved except through an action for dissolution?

    <p>When the project has not been rebuilt or repaired substantially to its state prior to damage or destruction within three years</p> Signup and view all the answers

    What is required for the dissolution of a condominium corporation through the affirmative vote of its members or stockholders?

    <p>All the requirements of Section sixty-two of the Corporation Law</p> Signup and view all the answers

    What happens to the common areas owned or held by a condominium corporation upon its voluntary dissolution?

    <p>They are subject to the rights of corporate and individual condominium creditors</p> Signup and view all the answers

    Under what circumstance can a condominium corporation sell, exchange, lease, or dispose of the common areas owned or held by it?

    <p>Upon the affirmative vote of ALL the stockholders or members</p> Signup and view all the answers

    What is a ground for the voluntary dissolution of a condominium corporation?

    <p>The damage or destruction of the project rendering a material part thereof unfit for its use</p> Signup and view all the answers

    What is required for the dissolution of a condominium corporation?

    <p>Compliance with the requirements of Sections thirteen and fourteen of the Act</p> Signup and view all the answers

    What happens to the condominium corporation upon the condemnation or expropriation of the project or a material part thereof?

    <p>The members holding in aggregate more than seventy percent interest in the corporation decide on its fate</p> Signup and view all the answers

    What is a requirement for the voluntary dissolution of a condominium corporation through the affirmative vote of its members or stockholders?

    <p>Compliance with Section sixty-two of the Corporation Law</p> Signup and view all the answers

    Under what condition can a condominium corporation be dissolved through an action for dissolution?

    <p>When the project has not been rebuilt or repaired substantially to its state prior to damage or destruction within three years</p> Signup and view all the answers

    What is required for the liquidation of a condominium corporation?

    <p>The sale of the entire project as if the corporation owned the whole thereof</p> Signup and view all the answers

    Study Notes

    Master Deed

    • A Master Deed contains:
      • Description of the land and building(s) in the condominium project
      • Description of the building(s), including number of stories and basements, and number of units and their accessories
      • Description of common areas and facilities
      • Statement of the interest acquired by the purchaser in the separate units and common areas
      • Statement of the purposes for which the building(s) and units are intended or restricted
      • Certificate of the registered owner of the property, consenting to the registration of the deed
      • Plans appended to the deed, including a survey plan of the land and a diagrammatic floor plan of the building(s)

    Amendments to the Master Deed

    • The enabling or master deed may be amended or revoked upon registration of an instrument executed by a simple majority of registered owners
    • Prior notification must be given to all registered owners, and any amendment or revocation must be submitted to the Housing and Land Use Regulatory Board and the city/municipal engineer for approval before registration

    Transfer of Units

    • Any transfer or conveyance of a unit includes the transfer of the undivided interest in the common areas
    • No transfer or conveyance of a unit is valid if it would cause the alien interest in the corporation to exceed the limits imposed by existing laws
    • The citizenship requirement for ownership of condominium units applies to corporations, where at least 60% of the capital stock must belong to Filipino citizens

    Incidents of Condominium Grants

    • The boundary of a unit is the interior surface of the perimeter walls, floors, ceilings, windows, and doors
    • Common areas include lobbies, stairways, hallways, and other areas of common use, as well as central services and facilities
    • Each condominium owner has the exclusive right to paint, repaint, tile, wax, paper, or otherwise refinish and decorate the inner surfaces of the walls, ceilings, floors, windows, and doors of their unit
    • Each condominium owner has the exclusive right to mortgage, pledge, or encumber their condominium independently of the other condominiums

    Partition of the Project

    • The common areas shall remain undivided, and there shall be no judicial partition thereof
    • Partition of the project may be made by sale of the entire project, with the consent of the condominium owners holding in aggregate more than 70% interest in the common areas
    • Partition may be made in cases where the project has been damaged or destroyed and not rebuilt or repaired within three years, or where more than half of the units are untenantable and the condominium owners are opposed to repair or reconstruction

    Management Body

    • The declaration of restrictions shall provide for the management of the project by a management body, which may be a condominium corporation, an association of condominium owners, a board of governors, or a management agent

    • The management body shall have the power to enforce the provisions of the declaration of restrictions, maintain insurance policies, employ personnel, and perform other duties necessary for the operation of the project### Condominium Corporation Dissolution

    • In the absence of specific restrictions, the corporation has a power of attorney from all members/stockholders to sell and dispose of their separate interests in the project.

    • Liquidation of the corporation is achieved by selling the entire project as if the corporation owned it entirely, subject to corporate and individual creditor rights.

    Disposal of Common Areas

    • The condominium corporation cannot sell, exchange, lease, or dispose of common areas owned or held by it in the project without approval.
    • Approval requires the affirmative vote of ALL stockholders or members.

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    Description

    This quiz covers the essential elements of a Master Deed, including descriptions of the land, building, and common areas, as well as the nature of the interest acquired by a purchaser.

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