Board Resolution 922

Question 1

Section 2: Scope of Application

Answer 1

This rules shall apply to all persons, natural or juridical, that shall engage in the practice of real estate service with projects required by law to be registered with HLURB:

“Project” shall include the following:

2. 1 All subdivisions, including residential, commercial, farm lot, and industrial subdivisions
3. 2 All condominiums, including residential and commercial condominiums
4. 3 Any other similar projects, including cemeteries, memorial parks and columbaria

Question 2

Section 3: Objectives

Answer 2

This rule aims to ensure that the public and the prospective buyers of any lot including any building or improvement thereon, or any unit in a project are protected from fraudulent practices and manipulation through close supervision and regulation of persons engaged in the practice of real estate service with a project.

Question 3

Section 4: Definition of terms

4. 1. Broker
5. 2. Business firms
6. 3. Cease and desist
7. 4. Cemetery
8. 5. Columbarium
9. 6 Commercial condominium
10. 7. Commercial subdivision
11. 8. Condominium project
12. 9. Dealer
13. 10. Developer
14. 11. Farmlot subdivision
15. 12. Industrial subdivision
16. 13. Memorial park
17. 14. Practice of Real Estate Service
18. 15. Project
19. 16. Sale or sell
20. 17. Salesman or Salesperson
21. 18. Subdivision Project

Answer 3

4. 1. Broker: any rain who is required by P.D. No. 957 to be registered to HLURB before it can undertake for commission or other compensation, to sell or negotiate the sale of any lot including any building or improvement thereon, or any unit in a project belonging to another.
5. 2. Business firms: refers to any corporation, partnership, cooperative or association or single proprietorship that is required by P.D. No. 957 to be registered with the HLURB before they can engage in the practice of real estate services as edited under section 4.14 thereof.
6. 3. Cease and desist order: an order issued by the HLURB directed against the developer enjoining it from committing certain acts in relation to its project by reason of a violation of P.D. No. 957, Batas Pambansa Big 220, or any of their implementing rules and regulations or any guidelines or circular issued there under.
7. 4. Cemetery: to a public or private land used for the burial of the dead or other similar uses.
8. 5. Columbarium: a structure either freestanding or part of another building, containing niches for the inumment of cremated human remains. A columbarium may include an “ossuary” which is the internment space for the bones of the dead
9. 6 Commercial condominium: the entire parcel of real property divided or to be divided primarily for commercial purposes into commercial units including all structures thereon
10. 7. Commercial subdivision: a tract or parcel of land registered under Act No. 496 as amended by P.D. No. 1529, which is partitioned primarily into individual lots for commercial use with or without improvements there one and offered to the public for sale in cash or installment terms
11. 8. Condominium project: the entire parcel of real property divided or to be divided primarily for the residential proposed into condominium units, including all structures thereon
12. 9. Dealer: any persons required by P.O. No. 957 to be registered with the HLURB, before it can directly engage as principal in the business of buying and selling of any lot including any building or improvement thereon, or any unit in a project, whether on a full time or part time basis
13. 10. Developer: a person who develops or improves for and in behalf of the owner of the project. When used this Rules, the developer shall also pertain or include the owner
14. 11. Farmlot subdivision: a subdivision project primarily intended for agricultural production, with a minimum lot area of 1,000 sqm and 25% maximum aloha buildable area
15. 12. Industrial subdivision: tract of land registered under Act No. 496, amended by P.O. No. 1529, partitioned into lots for sale or lease to establishments engaged primarily in industrial production or services. The degree of development may to the provision of utilities and allocation of areas for industrial buildings, facilities and amenities or it may also include the provision of buildings, facilities and amenities.
16. 13. Memorial park: a privately owned cemetery provided with a systematic supervision and maintenance where park-like atmosphere is its outstanding quality
17. 14. Practice of Real Estate Service: any of the acts or transactions embraced within Sections 4.1, 4.9 and 4.17 hereof with respect to any project required by law to the HLURB. In the case of brokers and salesmen, any single act or transaction thereof shall constitute practice of real estate services
18. 15. Project: the different real estate developments enumerated under Section 2 hereof which are required by law to be registered with the HLURB
19. 16. Sale or sell: every disposition or attempt to dispose, for a valuable consideration, of any lot, including the building and other improvements, or any unit in a project. “Sale” and “sell” shall also include a contract to sell, a contract of purchase and sale, an exchange, an attempt to sell, an option purchase, a solicitation of sale, or an offer to sell directly or by an agent, or by a circuit, letter, advertisement or otherwise
20. 17. Salesman or Salesperson: any person engaged, supervised, or regularly employed by a broker who is required by the P.O. No. 957 to be registered with the HLURB before it can perform, for and in behalf of the broker, any or all functions of the latter
21. 18. Subdivision Project: a tract or parcel of land registered under Act No. 496, as amended by P.D. No. 1529 which is partitioned primarily for residential purposes into individual lots with or without improvement thereon, and offered to the public for sale, in cash or installment terms. Included are all residential, commercial, industrial, and recreational areas as well as open spaces and other community and public areas in the project

Question 4

Section 1: title

Answer 4

2014 Revised Implementing Rules and Regulations on Dealers, Brokers and Salesmen

Question 5

Section 5: Practice of Real Estate

Answer 5

All persons a gaged in the practice of real estate service with any project shall faithfully comply with the provisions of P.O. No. 957 and shall not commit any act or representation tending to mislead, defraud or unfairly induce another to purchase any lot, including any building or improvements thereon, or any unit in a project under any mode or scheme of payment or acquisition, or demonstrate unworthiness unworthiness to engage in the practice of real estate service