Real Estate Development: Subdivision Project Concepts

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Questions and Answers

What is the primary intention of a farmlot subdivision?

Commercial use with or without improvements

Agricultural production with a minimum lot area of 500 m²

Agricultural production with a minimum lot area of 1,000 m² (correct)

Residential use with a maximum allowable buildable area of 50%

What is the minimum lot area required for a farmlot subdivision?

5,000 m²

2,000 m²

500 m²

1,000 m² (correct)

What is the term for a structure containing niches for the inurnment of cremated human remains?

Columbarium (correct)

Ossuary

Mausoleum

Cemetery

What is the definition of a condominium according to RA 4726?

An interest in real property consisting of separate interest in a unit and an undivided interest in common Signup and view all the answers

What is required to be recorded in the Register of Deeds of the province or city for condominium property?

A Master Deed Signup and view all the answers

What is the term for the holders of separate interest in a condominium?

Shareholders Signup and view all the answers

What should be included in the Master Deed according to the Act?

The description of the land and buildings involved Signup and view all the answers

What is the term for the entire parcel of real property divided or to be divided into condominium units?

Condominium project Signup and view all the answers

What is the purpose of the statement in the Master Deed regarding the interest acquired by the purchaser?

To clarify the ownership structure in the condominium project Signup and view all the answers

What is the term for the accessories appended to a unit in a condominium project?

Accessories Signup and view all the answers

Which of the following is NOT a requirement for the Master Deed?

The names and addresses of the condominium owners Signup and view all the answers

What is the purpose of a condominium corporation?

To hold title to the common areas Signup and view all the answers

What is the primary purpose of partitioning a tract or parcel of land in a subdivision project?

For residential purposes with or without improvements Signup and view all the answers

What is the term for the act of dividing the ownership of a condominium project?

To divide Signup and view all the answers

What is the purpose of the certificate of the registered owner in the Master Deed?

To consent to the registration of the Master Deed Signup and view all the answers

What is the main difference between a simple subdivision and a complex subdivision?

Complex subdivision has streets and open spaces Signup and view all the answers

What is the effect of recording the Master Deed in the Register of Deeds?

It establishes the condominium ownership structure Signup and view all the answers

What is the current price ceiling for economic housing in the Philippines?

PHP 2,500,000 Signup and view all the answers

What is the short title of Republic Act No. 4726?

The Condominium Act Signup and view all the answers

What is the required annotation for the Master Deed in the corresponding CERTIFICATE OF TITLE OF THE LAND?

Duly annotated Signup and view all the answers

What is the minimum floor area required for socialized housing subdivision projects?

28 square meters Signup and view all the answers

What is the purpose of Presidential Decree 957?

To regulate open market housing Signup and view all the answers

What type of property is the Master Deed applicable to?

Properties divided or to be divided into condominiums Signup and view all the answers

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

To describe the amenities available to unit owners Signup and view all the answers

What is the price ceiling for socialized housing subdivision projects set by HUDCC Resolution Number One, Series of 2018?

PHP 850,000 Signup and view all the answers

What is the purpose of the statement of the purposes for which the building or units are intended or restricted in the Master Deed?

To clarify the restrictions on unit use Signup and view all the answers

What is the main characteristic of a complex subdivision?

It has streets and open spaces Signup and view all the answers

What is the purpose of Batas Pambansa 220?

To regulate socialized housing Signup and view all the answers

What is the minimum percentage of loft required in socialized housing subdivision projects?

50% of the base structure Signup and view all the answers

What is the purpose of Act Number 496?

To register subdivision projects Signup and view all the answers

Study Notes

Farmlot Subdivision

Primary Intention: To divide agricultural land into smaller lots for residential or commercial purposes.
Minimum Lot Area: The minimum lot area required for a farmlot subdivision is determined by local ordinances and may vary depending on the location.

Condominium Property

Definition (RA 4726): A multiple-ownership real estate development where individual units are owned separately, while common areas are shared.
Recording Requirements: The Master Deed, floor plans, and other relevant documents must be recorded in the Register of Deeds.
Unit Holders: Individuals who own separate interest in a condominium are called condominium unit owners.
Master Deed Contents: It should include details about the:
- Condominium Project: The location, description, and boundaries.
- Units: Size, specifications, and distribution.
- Common Areas: Identification and ownership arrangements.
- Condominium Corporation: Formation, governance, and responsibilities.
Entire Real Property: The entire parcel of land divided into condominium units is called the condominium project.
Purchaser's Interest: The Master Deed clarifies the nature of the interest acquired by the purchaser, whether it's a separate interest in a unit and a shared interest in common areas.
Accessories: Accessories like balconies, patios, and storage spaces are considered appurtenances appended to a unit.
Master Deed Requirements: The Master Deed must include all the information mentioned above, however, it does NOT need to include detailed plans of the external building design.
Condominium Corporation: Responsible for managing common areas, maintaining the building, and ensuring compliance with governing regulations.

Subdivision Projects

Purpose of Partitioning: Dividing a tract or parcel of land into smaller lots, typically for residential, commercial, or industrial development.
Dividing Ownership: The act of dividing ownership in a condominium project is referred to as condominiumization.
Certificate of Registered Owner: Included in the Master Deed to validate the owner's legal right to the property.
Simple vs. Complex Subdivision: The main difference lies in the complexity of the project. A simple subdivision involves dividing a parcel into lots with minimal common areas, while a complex subdivision involves more intricate layouts with shared facilities.
Effect of Recording Master Deed: After recording, the Master Deed becomes a public record, establishing legal boundaries and ownership details.

Housing in the Philippines

Economic Housing Price Ceiling: The current price ceiling for economic housing varies depending on the location and is determined by government regulations.
Short Title of RA 4726: Condominium Act.
Master Deed Annotation: The Master Deed must be annotated in the corresponding Certificate of Title of the Land to reflect the condominium arrangement.
Socialized Housing Minimum Floor Area: The minimum floor area required for socialized housing subdivision projects is 22 square meters.
Purpose of Presidential Decree 957: To regulate the construction and subdivision of lands in the Philippines and ensure proper development practices.

Additional Notes

Master Deed Applicability: The Master Deed applies specifically to condominium properties.
Common Areas Description: The Master Deed clarifies the description of common areas and facilities, defining how they are managed and used.
Socialized Housing Price Ceiling: HUDCC Resolution Number One, Series of 2018 sets the price ceiling for socialized housing subdivision projects.
Building or Units Purpose: Master Deed outlines the purpose of the building or units, whether intended for residential, commercial, or mixed use and any restrictions that may apply.
Complex Subdivision Characteristic: Involves shared amenities and facilities, requiring collaborative ownership and management.
Purpose of Batas Pambansa 220: To regulate the acquisition and distribution of socialized housing in the Philippines, promoting affordability and access.
Socialized Housing Loft Percentage: Socialized housing subdivision projects require a minimum of 10% loft area within the project.
Purpose of Act Number 496: To define and penalize the unauthorized subdivision of unregistered land and promote responsible development practices.

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Description

Test your knowledge of subdivision projects, including the definition, types, and features of these residential developments. Learn about the laws and regulations governing subdivision projects in the Philippines.