Requirements for Selling Socialized Housing Projects Quiz

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Questions and Answers

What is required in an application for a License to Sell of lots or units in a subdivision?

Topographic Plan

Program of development (correct)

Copy of brochures and advertisements

Joint venture agreement with LGU

Which document is needed to be submitted in order to prove that titles to saleable lots or units have been issued?

Proof of required development level

Certified true copy of the title of the common areas/open space (correct)

Duly accomplished and notarized fact sheet

Topographic Plan

What must be done before the issuance of a License to Sell for lots or units in a subdivision?

Segregation of individual titles (correct)

Publication in a newspaper

Submission of joint venture agreement

Proof of project study

What is included in the Affidavit of undertaking required for an application for License to Sell?

Copy of the topographic plan Signup and view all the answers

Which document is NOT required for the application for a License to Sell under the given conditions?

Copy of brochures and other advertisements Signup and view all the answers

What action does the Board take after evaluating the completeness of the application for Certificate of Registration?

Cause a notice of application publication Signup and view all the answers

What is required from the applicant when deviating from the intended line of business?

Authorization from the Securities and Exchange Commission and/or the appropriate government agency Signup and view all the answers

What document is required to be submitted for notification/approval by HLURB when making amendments to the project?

Pro-forma affidavit signifying willingness to change project name Signup and view all the answers

What is required for the public offering of lots, units or lots and units?

Sample copy of contract to sell Signup and view all the answers

Which of the following is not a requirement for registration of housing projects?

Business registration certificate Signup and view all the answers

What is required to operate a deepwell?

Permit to operate a deepwell Signup and view all the answers

Who approves the electrical plan and specifications?

Local franchise holder Signup and view all the answers

What is required to be submitted to the Land Management Sector for verification survey and approval?

Subdivision plan and parcellary map Signup and view all the answers

What is the consequence if the project is not in compliance with the standards set forth in the Rules?

The developer is required to revise the design Signup and view all the answers

What is required for a subdivision or condominium to be sold?

Registration and issuance of a License to Sell Signup and view all the answers

What document is submitted to the Board for registration of the project?

Sworn registration statement using HLURB form 001 Signup and view all the answers

What is the purpose of the verification survey conducted by the Land Management Sector?

To verify the accuracy of the subdivision plan Signup and view all the answers

What is the purpose of registering the project with the Board?

To obtain a License to Sell Signup and view all the answers

Study Notes

The owner or real estate dealer interested in selling lots or units in a subdivision or condominium project must apply for a License To Sell from the Board.
The application for a License To Sell requires the submission of various documents, including a program of development, an affidavit of undertaking, a fact sheet, proof of minimum level of development, and a copy of circulars, brochures, and advertisements.
The Board evaluates the completeness and veracity of the submitted documents and publishes a notice of application for Certificate of Registration.
If the applicant deviates from their intended line of business, they must obtain authorization from the SEC or appropriate government agency.
Additional requirements for the application include an environmental compliance certificate, zoning certification, DAR conversion order, electrical plan and specifications, and permits for deepwell operation and water portability.

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Description

Test your knowledge on the requirements for selling socialized housing projects, including license applications, joint venture agreements, certified bond copies, and topographic plans.