Philippine Presidential Decree 957 Quiz
28 Questions
11 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

In which transaction is a license to sell and performance bond not required?

  • Sale of a subdivision lot by or for the account of a mortgagee in the ordinary course of business when necessary to liquidate a bona fide debt (correct)
  • Sale or transfer of a subdivision lot by the original purchaser thereof and any subsequent sale of the same lot
  • Sale of a condominium unit to a new buyer
  • Sale of a subdivision lot resulting from the partition of land among co-owners and co-heirs

    • Under what circumstance may the HLURB (now DHSUD) motu propio suspend the license to sell?

  • If the owner or dealer provides misleading information in the registration statement (correct)
  • If the owner or dealer sells the subdivision or condominium project without a performance bond
  • If the owner or dealer fails to submit the registration statement
  • If the owner or dealer fails to pay realty tax and other charges

    • What action can the HLURB (now DHSUD) take upon verified complaint filed by a buyer of a subdivision lot or a condominium unit?

  • Suspend the owner's or dealer's license to sell pending investigation and hearing (correct)
  • Impose a cease and desist order
  • Revoke the broker's Certificate of Registration (COR)
  • Revoke the Certificate of Registration (COR) and License to Sell (LTS)

    • What type of sale does not require a license to sell and performance bond?

    <p>Sale of a subdivision lot resulting from the partition of land among co-owners and co-heirs</p> Signup and view all the answers

    What is the time frame for owners or developers to complete compliance with obligations under Presidential Decree 957 (PD 957)?

    <p>Two years from the date of PD 957</p> Signup and view all the answers

    What is the maximum fine that the HLURB (now DHSUD) can impose for violations?

    <p>P10,000</p> Signup and view all the answers

    When does the decree become final after the receipt of the decision?

    <p>15 days</p> Signup and view all the answers

    At what point should the title of the lot or unit be delivered to the buyer?

    <p>Upon full payment</p> Signup and view all the answers

    What is the maximum imprisonment term for violators of the decree?

    <p>10 years</p> Signup and view all the answers

    When can the HLURB (now DHSUD) issue a cease and desist order for violations?

    <p>At any point</p> Signup and view all the answers

    What is the timeline for the owner or developer to initiate the organization of a homeowners association?

    <p>Upon completion of the project</p> Signup and view all the answers

    When can fees for common services be collected?

    <p>With the consent of a majority of lot or unit buyers</p> Signup and view all the answers

    What is the penalty for the developer if they fail to pay real estate tax and assessment until the title passes to the buyer?

    <p>They are in violation of PD 957</p> Signup and view all the answers

    What action can the HLURB (now DHSUD) take in case of violations?

    <p>Take over or cause the development and completion of the project at the expense of the owner or developer</p> Signup and view all the answers

    Under what condition can the registered owner or developer donate roads and open spaces to the local government?

    <p>At their discretion</p> Signup and view all the answers

    What is the maximum fine for violators of the decree?

    <p>P20,000</p> Signup and view all the answers

    What action can the HLURB (now DHSUD) take if the owner or dealer is insolvent, violates laws, engages in fraudulent transactions, or makes misrepresentations?

    <p>Refuse or revoke registration</p> Signup and view all the answers

    Under what circumstances can the HLURB (now DHSUD) lift a suspension order for a subdivision or condominium project?

    <p>When deficiencies are corrected and the sale will not be fraudulent</p> Signup and view all the answers

    What can happen if a partnership, corporation, or association member is guilty of acts that would revoke an individual's registration?

    <p>Revocation of registration</p> Signup and view all the answers

    What is the procedure for the hearing regarding suspension and/or revocation of registration certificate and license to sell?

    <p>Notice, non-litigious and summary proceedings, and the power to administer oaths and subpoena witnesses</p> Signup and view all the answers

    What can the officer designated by the HLURB (now DHSUD) do for misbehavior or refusal to answer as a witness during the hearing?

    <p>Adjudge direct contempt</p> Signup and view all the answers

    What is the maximum time frame for the case to be decided from the time it's submitted for decision?

    <p>Thirty days</p> Signup and view all the answers

    What may the decision order if the forfeiture of the performance bond is ordered?

    <p>Construction of roads and other requirements for the subdivision or condominium</p> Signup and view all the answers

    What type of contempt may be adjudged on grounds and in the manner prescribed in the Revised Rules of Court?

    <p>Indirect contempt</p> Signup and view all the answers

    What is the maximum penalty for violators of the decree?

    <p>Imprisonment</p> Signup and view all the answers

    Under what condition can registration be refused or revoked?

    <p>If the applicant or registrant violates laws, makes false statements, commits fraudulent acts, or demonstrates unworthiness</p> Signup and view all the answers

    What is the procedure for the suspension of a dealer's, broker's, or salesman's registration pending a hearing?

    <p>The Authority can order the suspension</p> Signup and view all the answers

    What can happen if the applicant or registrant violates laws, makes false statements, commits fraudulent acts, or demonstrates unworthiness?

    <p>Refusal or revocation of registration</p> Signup and view all the answers

    Study Notes

    Philippine Presidential Decree 957 on Subdivision and Condominium Buyers' Protection

    • The decree becomes final 15 days after receipt of the decision
    • The Housing and Land Use Regulatory Board (HLURB, now DHSUD) can issue a cease and desist order for violations
    • Owners or developers must complete compliance with obligations within two years from the date of Presidential Decree 957 (PD 957)
    • The title of the lot or unit should be delivered to the buyer upon full payment
    • The owner or developer should pay real estate tax and assessment until the title passes to the buyer
    • No fees except those for registration of the deed of sale shall be collected for title issuance
    • Fees for common services can only be collected with the consent of a majority of lot or unit buyers
    • The owner or developer must initiate the organization of a homeowners association
    • The registered owner or developer may donate roads and open spaces to the local government
    • The HLURB (now DHSUD) can take over or cause the development and completion of the project at the expense of the owner or developer
    • The HLURB (now DHSUD) may impose fines not exceeding P10,000 for violations
    • Violators of the decree can face a fine of not more than P20,000 and/or imprisonment of not more than 10 years

    Real Estate Regulations and Revocation Procedures

    • The HLURB (now DHSUD) can lift a suspension order for a subdivision or condominium project if the registration statement is accurate or deficiencies are corrected, and the sale will not be fraudulent.
    • The suspension order is confidential until it's violated or a dismissal of the complaint for lack of legal basis occurs.
    • The Authority can revoke the registration and the license to sell if the owner or dealer is insolvent, violates laws, engages in fraudulent transactions, or makes misrepresentations.
    • Revocation can also happen if a partnership, corporation, or association member is guilty of acts that would revoke an individual's registration.
    • Registration may be refused or revoked if the applicant or registrant violates laws, makes false statements, commits fraudulent acts, or demonstrates unworthiness.
    • The Authority can order the suspension of a dealer's, broker's, or salesman's registration pending a hearing, and the suspension extends to all the salesman.
    • The hearing for suspension and/or revocation of registration certificate and license to sell requires notice, non-litigious and summary proceedings, and the power to administer oaths and subpoena witnesses.
    • The officer designated by the HLURB (now DHSUD) can adjudge direct contempt for misbehavior or refusal to answer as a witness during the hearing.
    • Indirect contempt may also be adjudged on grounds and in the manner prescribed in the Revised Rules of Court.
    • The case must be decided within thirty days from the time it's submitted for decision, and the decision may order the revocation of the registration or the forfeiture of the performance bond.
    • If the forfeiture of the bond is ordered, the decision may direct the construction of roads and other requirements for the subdivision or condominium as stipulated in the bond, chargeable to the amount forfeited.
    • The regulations provide detailed procedures for suspension, revocation, and contempt, ensuring compliance and accountability in the real estate sector.

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Description

    Test your knowledge of Philippine Presidential Decree 957 on Subdivision and Condominium Buyers' Protection with this quiz. Also, explore Real Estate Regulations and Revocation Procedures to enhance your understanding of compliance and accountability in the real estate sector.

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser