Names, Dates, Numbers, Others Flashcards
As exemptions to the general rule of right to own, alien acquisition is allowed before?
1935 Constitution
The family code that now governs the property between married couple after the New Civil Code, became effective last?
August 3, 1988
This principle state that the citizenship of a person be based on the location of birth of person
Jus Soli
Before RESA, the code of Ethics under DTI was referred to as
National Code of Ethics for the Realty Estate Service Practice
Effectivity of the Real Estate Service Act of the Philippines
July 30, 2009
Which section in RESA, IRR refers to the “prohibition against unauthorized practice of Real Estate”
Section 29
Which section in RESA, IRR refers to the “Registration without Examination”
Section 20
If a real estate broker failed to renew his license before the effectivity of RESA, the broker is required to take CPE points of
24 CPE Points
The bachelor’s degree adopted in coordination with the CHED for real estate service under RESA, is called
Bachelor of Science in Real Estate Management
Which section in RESA, IRR refers to the “Accreditation and integration of Real Estate Service Association”
Section 34
Which section in RESA, IRR refers to the “Supervision of Real estate Salesperson”
Section 31
Which section in RESA, IRR reveres to the “Continuing professional Education (CPE) Program
Section 36
The various regulatory boards under PRC are grouped into an association referred to as
PAPRB (Philippine Association of Professional Regulatory Board)
The taxation on ownership of real property by a person is governed by
Local government code of 1991
Surcharge for the late payment of Capital Gains Tax on the sale of house and lot
1.5% ?
A person who failed to fully utilize the proceeds of the sale of his principal residence shall be assessed additional deficiency capital gains tax, interest, and interest of
25%
Under PD 957, section number of “HLURB License to Sell issuances”
Section 5
The approval of the following has already been devolved to the local government unit from the HLURB
Approval of Subdivision Plan
Under PD 957, the developer which tends to develop a subdivision must first obtain the following from HLURB
Certificate of Registration
Under PD 957, which section states the non-forfeiture of the payments, when the buyer after du notice to the developer, desists from further payment due to the failure of the developer to develop the condominium or subdivision project according to the approved plans?
Section 23
Developer may publish advertisement of their project even without license to sell provided that
It is for announcement purposes only
Under Pd 957, section of “take-over development” is
Section 35
In case the buyer would like to refund his payment for non-completion of project within completion date, the refund shall be:
100% Refund - Delinquency Interest (penalties) + Interest at Legal Rate
(Total amount paid + amortization interest)
The ceiling amount for socialized housing consisting of house and lot, is:
Php 450, 000.00
Under PD 957, section # of “Donations of Open Space” to LGU is
Section 31
Under Pd 957, The performance bond required from a developer shall be made payable to
Republic of the Philippines
The board of the association may be dissolved through a process of
Signed petition of at least 2/3 (75%) of the association members
The HLURB standard color theme for Industrial Land Use
Violet
The governing law for protection of buyers who are buying residential condominiums units on installment basis is referred to as
Subdivision and Condominium Buyer’s Protective Decree
The condominium corporation may be dissolved by a general or special meeting duly called for the purpose, by affirmative vote of
All the members of the condominium corporation
Under the REIT Law, the “Constitutive Document” means
Articles of Incorporation of the REIT
For a farm lot subdivision, the minimum Lot area for a farm lot is
1, 000 sqm.
(PERA) “Personal Equity and Retirement Account Act of 2008” an act establishing Personal Savings Plan is
RA 9505
The rights of the buyer of a condominium unit, when he fails to pay a monthly installment under the contract to sell , shall be governed by
RA 6552
The Fund Manager of the REIT must have a minimum paid-up capital of
Php. 10 million
Gas per HLURB rules and regulations, the minimum buildable area on a farm lot shall not exceed
25%
It means the placing of cremated remains in an ur. In a columbarium
Interment
Per HLURB, administrative order 2, series of 1992, the minimum lot size of industrial estate is
500 sqm.
An an allocated lot in an industrial subdivision is also referred to as
Factory plot
The master deed of a mixed use condominium would not include the following provision
Provision for maintenance and insurance
Income payments to a REIT, for example rentals, shall be subject to a lower creditable withholding tax of
1%
It referred to a person responsible for the allocation of the deposited property to the allowable investment outlets, and selection of income generating real state for the REIT
Fund Manager
A partition be sale may be made, provided that damage or destruction to the project has rendered 1/2 or more of the units therein untenantable, and that condominium owners with common interest are opposed to repair is
More than 30% interest
It is a Stock Corporation principally for the purpose of owning income-generating real estate assets, established under the corporation code of the Philippines and this promulgated by the commission
Real Estate Investment Trust (REIT)
In order for the investor group to form a REIT, it must have a minimum paid-up capital of
Php. 300 million
To be a valid contract of lease between the owner and the lessee, there must be
A meeting of minds between the owner and the lessee
In case of an extra judicial foreclosure of a real estate mortgage, the property mortgaged shall be sold through
Public auction sale
The following cannot acquire the property by purchase, because of fiduciary relationship
An agent under whose administration the property is entrusted
The following sale of financial property are not covered by Maceda Law
Commercial lot, Industrial Lot, Sales to tenant under RA 384
A contract of lease between the lessor and lessee must be duly notarized for the purpose of
Registration
“Rental Reform Act of 2002”, an act establishing reforms in the regulation of rentals of certain residential units, providing the mechanisms therefore and for other purposes
RA 9161
The law that provides a redemption period of foreclosed property of a corporation from a bank, for a maximum period of 3 months
General Banking Act (GBA)
Under PD 957, section # of “Issuance of Title”
Section 25
HLURB color scheme for Residential use
Yellow
A 5-year lease over a house and lot was entered into by the partner, and to be valid, the same must be
With a meeting of minds
In case the area on a purchase of lot turns out different from that stated in the contract, the buyer may rescind the sale provided that the lack in the area is at least
At least 10%
The Rent Control Law (RA 9653), covers residential apartments and if located in the municipalities, it is covered if the rentals at the time of the effectivity of the law is
P 1.00 - 5, 000 / month
In contact of lease, like a contract of sale, to be registered with the Registry of Property, it must be
In a public Instrument/ notarized
A sale of property which is valid, but which may be annulled on ground such as vitiatio now of consent is classified as
Voidable
A special power of attorney, under the law, will be required in the following instance
Lease of property for more than 1 year
A memorandum of notice that the subject land is subject of a case for recovery which may be registered with the RD is
Notice of Lis Pendens
Under PD 957, section # of “Time of Completion in dveloping a subdivision or condominium project” is
Section 20
To cancel the lien, based on rule 74, any of the heirs may file
Verified Petition for Cancellation
To show proof that the publication requirement for extrajudicial settlement has been done, the following document may be presented
Affidavit of publication by heir
A corporation will sell its parcel of land in Cebu. The sale must be accompanied by the following for purposes of there son signing for the corporation
Corporate Secretary’s Certificate
In case of loss or theft of an owner’s copy of title, the owner may undertake the following and file
Petition for issuance of duplicate owner’s certificate of title
Original copies of certificates of title lost or destroyed in the office of RD, as well as liens and encumbrances affecting the lands covered by such titles, shall be judicially reconstituted through
The Regional Trial Court
What is the program under which is the application through the state-of-the-art information technology
- in line with LRA’s mission to preserve the stability and integrity of land ownership and maintain the rust and confidence of the public in the Torrens System
- the LRA shall enable the quick and and secure registration of titles
(LTCP) Land Titling Computerization Project
HLURB standard color theme for Parks on Open spaces
Yellow Green
The form used for the issuance of the (TCT) transfer certificate of title is referred to as
Judicial form
For the special power of attorney to be irrevocable the same must be
Coupled with an interest
The government agency that exist for the sole purpose of implementing and protecting the Torrens system of land titling and registration
(LRA) Land Registration Authority
Prior to the (PRD) Property Registration Decree, RA 1529, the law governing registration of title was
(LRA) Land Registration Act
HLURB standard color scheme for commercial land use is
Orange
A deed of absolute sale to be registered in RD must be in the of form of
Any sufficient form
Originator of Torrens System
Sir Richard Torrens
Realty Tax Due Date
In quarterly basis without interest
March 31, June 30, Sept. 30, Dec. 31
Philippines recorded a 100 million population figure in
July 2014
To loan under the Pagibig Financing to buy a residential lot, maximum size of purchase is
1000 sq.m.
An index used in the Philippines is the multiplier effect of real estate which has been estimated in the following ratio
1 : 16.6
An arrangement made with the dell per and PagIbig fund to guarantee the payment of monthly amortization by the borrower and failure of which within a certain period, the developer will buy back the contract to sell from PagIbig
CYS Buyback
The rational approach of allocating available land resources as equitably as possible among competing user groups and for different functions
Land Use plan
Referees to whose only real property of residential land does not exceed 800 sq.m. In other urban areas
Small property owners
The program of NHA of upgrading and improving blighted squatter areas outside of metro Manila pursuant to existing statutes and pertinent issuances
SIRP (Slum Improvemnet and Resettlement Program)
(HDMF) “Home Development Mutual Fund Law of 2009” or PagIbig
RA 9679
The additional real estate tax may be imposed on urban lands under RA 7279, shall only be applied to lands with AV over
50, 000
Penalty for violation of RA 7279
Fine: 5,000 - 100,000
In a high density residential zone area, the number of dwelling units allowed would be
66 or > / Ha
of dwelling units for Low a Density residential area
Color of non-biodegradable solid waste container
Black
