RA 4726 / Condo Provisions in PD 957 and BP 220 Flashcards
The Condominium Act
RA 4726
RA 4726 approval/effectivity date
June 18, 1966
an act to define condominium, establish requirements for its creations and govern its incidents
RA 4726 (The Condominium Act)
horizontal condominium is also referred to as a
townhouse project
form of condominium project which refers to a high-rise or medium-rise buildings use for dwelling or habitation purposes
residential
form of condominium project which refers to a single-detached, apartment type, medium rise and high-rise factories or warehouse
industrial
form of condominium project which refers to offices, stores, shops, restaurants, theaters, concessionaires, marts and malls, etc.
commercial
form of condominium project which refers to a project that has its own recreational facilities like beaches, golf course, club houses, etc.
resorts
evidence of condominium ownership
Condominium Certificate of Title
property rights in condominium ownership
absolute ownership of unit and co-ownership on land and common areas
restrictions for aliens in condominium ownership
ownership of aliens should not go beyond 40% of units in condominium corporation
is defined as an interest in a real property consisting of a separate interest in unit in a residential, industrial or commercial building, and an undivided interest in common, directly or indirectly in the land on which it is erected and in other areas of the building
Condominium
Title to the common areas, including land, or the appurtenant interests in such areas, may be held by __ specially formed for such purpose, in which holders of separate interest shall automatically be member or shareholders
corporation
refers to a part of the condominium project intended for any type of independent use or ownership
condominium unit
it is an interior unit susceptible to private use and being sold or alienated in the condominium project
condominium unit
refers to the entire parcel of real property divided, or to be divided, in condominiums including all structures thereon
condominium project
it is a vertical or horizontal subdivision on a parcel of land and a multi-storey structure erected thereon which can be used for residential, commercial or industrial purposes
condominium project
it is the totality of the site, condominium units and common areas
condominium project
refers to the entire project except all units separately granted, held or reserved for independent use
common areas
they are non-alienable areas of the condominium project like: the hallways, land, reception area, stairs, elevators, swimming pool, gym, etc.
common areas
refers to the bearing walls, columns, floors, foundations and other common structural elements of the building; lobbies, stairways, hallways, and other areas of common use
common areas
refers to the Enabling Act of any condominium project. This “enables” the condominium to exist and govern its existence
Enabling or Master Deed
lays down the provisions for management body, insurance, coverage, maintenance cost and assessment basis and audit
Deed of Restrictions
establishes the birth and guidelines of and by-laws of the condominium corporation
Articles of Incorporation and By-Laws
determines what units owners and tenants can and cannot do
Rules and Regulations
is the evidence of ownership of the condominium unit
Condominium Certificate of Title
reference for tax assessment and tax due in the condominium unit and share in the common areas
Tax Declaration
a document issued by the condominium corporation that the conveyance is in accordance with the Master Deed / Restrictions
Certificate of Management
is the instrument required by law to be recorded in the proper RD to give effect to the division of property into condominium pursuant to the provisions of RA 4726
Enabling or Master Deed
is a statement defining the limitations of ownership of condominium unit which binds all unit owners and it is being registered at Registry of Deeds together with the Deed of Restrictions
Enabling or Master Deed
This document is compulsory and condominium projects cannot exist without this deed
Enabling or Master Deed
Enabling or master deed may be amended or revoked upon registration of an instrument executed by a ___ of the registered owners of the property
simple majority
simple majority is based on ___ if exclusively for either residential or commercial use and ____ if mixed use
per unit of ownership, per floor area of ownership
any amendment or revocation already decided by a simple majority of all registered owners shall be submitted to ___ and ___ for approval before it can be registered
HLURB and the city/municipal engineer
If common areas are owned by the owners of separate units as co-owners thereof, no condominium unit therein shall be conveyed or transferred to persons other than ___ or ___
Filipino citizens or corporations (60% of capital stock belong to Filipinos), except in cases of hereditary succession
If common areas are held by a ___, no transfer or conveyance of a unit shall be valid if the concomitant transfer will cause the alien interest to exceed the limits imposed by existing laws
corporation
where the enabling or master deed provides that the land included within a condominium project are to be owned in common by the condominium owners therein, the Register of Deeds may, at the request of all condominium owners and upon surrender of all their condominium owner’s copies, ___
cancel the certificates of titles of the property and issue a new one in the name of said condominium owners as pro-indiviso co-owners thereof
is a document which the owner of a condominium project is required to register prior to the conveyance of any condominium in it and which contain such restrictions as will constitute a lien upon each condominium project and insure to bind all unit owners in the project
Deed of Restrictions
shall be entered and annotated upon the Condominium Certificate of Title (CCT) covering the land included within the project
Deed of Restrictions
Deed of Restrictions shall provide for the management of the project by anyone of the following management bodies:
(1) condominium corporation
(2) association of the condominium owners
(3) board of governors elected by condominium owners
(4) management agent elected by the owners or by the board
refers to monthly obligation to fund ordinary project expenses ex. security, garbage collection, (maintenance, electricity, RPT and insurance of common areas), association dues
regular assessment
imposed as the needs arises, ex. repair of generator/elevator, installation of CCT, etc.
special assessment
the management body may ___ on delinquent unit owners by registering with RD a notice of assessment and delinquency. Such lien shall be superior to all other liens registered subsequent to the registration of said notice (except real property tax liens)
constitute a lien
is a non-stock, non-profit corporation consisting of condominium unit owners. It is the management body of the condominium project it use and owned
condominium corporation
the organization of a condominium corporation is ___ if no unit will be sold to foreigners
optional
the corporation is ___ id some units, not to exceed 40% will be sold to foreigners.
mandatory
purposes of condominium corporation
to hold title to the land and act as the management body
in case of conflict between the provisions of the Articles of Incorporation of the condominium corporation and the Master Deed, ___ shall prevail
Master Deed
the life of the condo corporation is ___ with the life of the condominium project
co-terminous
the condominium corporation may also be dissolved by the affirmative vote of ___ thereof at a general or special meeting duly called for the purpose
All the stockholders and members
requirements for dissolution of condominium corporation. partition by sale of the entire project, only if:
3 years after damage/destruction, has not been repaired
more the 50% untenantable and 30% are opposed to repair
condominium life has reached 50 years, obsolete and more than 50% are opposed to repair
condemned or expropriated and more than 70% are opposed to continuation
conditions for partition by sale on the Deed of Restrictions have been met
a condominium corporation shall no sell, exchange, lease or otherwise dispose of the common areas owned or held by it in the condominium project unless authorized by the affirmative vote of ___ of the registered owners
simple majority
common areas not subject to the exclusive use of any one group or group of owners (swimming pool, hallways, stairways, elevators)
general or undivided
common areas allocated the exclusive use of one or group of unit owners (parking space)
limited or divided
in the absence of any provision in the Master Deed, all unit owners shall have ___ share in the common areas
equal
Parks/Playgrounds required for condominium projects if ___, except ___
(1) gross saleable area of 1,000 sqm
(2) with 10 or more condominium units
except:
(1) condominium is part of subdivision project
(2) park/playground not more than 800 meters away
minimum area for a single park/playground shall be ___
50 sqm, 3 sqm for every additional family dwelling type in excess of 10 units
on-site and off-site parking for units with floor area of 18 to 22 sqm
1:8
on-site and off-site parking for units with floor area of 23 to 50 sqm
1:6
parking slots must be ___ for perpendicular or diagonal parking and at ___ for parallel parking
2.5m x 5m, 2.15m x 6m
off-site parking may be allowed no more than ___ away from a residential building project
100 meters
BP 220 parking slot per unit
1:8
water supply for condominium projects shall be
150 liters per capita per day
water/tank reservoir for condominium project shall be
20% average daily demand + fire reserve
elevators shall be required for buildings ___ storey and beyond
6
minimum floor area requirement for condo projects for single-occupancy unit
18 sqm, 12 sqm if intended for students/workers within highly urbanized areas
Final approval of Development permit for condominium development shall be valid for a period of ___ from the date of issuance
3 years
surety bond for condominium development
20% of the development cost of the unfinished portion
minimum level of development to acquire license to sell in condominium development
excavation permit
requirement for certificate of registration in a condominium project
master deed and declaration of restrictions annotated in the title and building permit
