An Act To Define Condominium, Establish Requirements For Its Creation, and Govern Its Incidents.
An Act To Define Condominium, Establish Requirements For Its Creation, and Govern Its Incidents.
4726 June 18, 1966 (d) "Common areas" means the entire project excepting all units separately
granted or held or reserved.
AN ACT TO DEFINE CONDOMINIUM, ESTABLISH REQUIREMENTS FOR ITS
CREATION, AND GOVERN ITS INCIDENTS. (e) "To divide" real property means to divide the ownership thereof or other interest
therein by conveying one or more condominiums therein but less than the whole
Sec. 1. The short title of this Act shall be "The Condominium Act". thereof.
Sec. 2. A condominium is an interest in real property consisting of separate Sec. 4. The provisions of this Act shall apply to property divided or to be divided
interest in a unit in a residential, industrial or commercial building and an undivided into condominiums only if there shall be recorded in the Register of Deeds of the
interest in common, directly or indirectly, in the land on which it is located and in province or city in which the property lies and duly annotated in the corresponding
other common areas of the building. A condominium may include, in addition, a certificate of title of the land, if the latter had been patented or registered under
separate interest in other portions of such real property. Title to the common areas, either the Land Registration or Cadastral Acts, an enabling or master deed which
including the land, or the appurtenant interests in such areas, may be held by a shall contain, among others, the following:
corporation specially formed for the purpose (hereinafter known as the
"condominium corporation") in which the holders of separate interest shall (a) Description of the land on which the building or buildings and improvements are
automatically be members or shareholders, to the exclusion of others, in proportion or are to be located;
to the appurtenant interest of their respective units in the common areas.
(b) Description of the building or buildings, stating the number of stories and
The real right in condominium may be ownership or any other interest in real basements, the number of units and their accessories, if any;
property recognized by law, on property in the Civil Code and other pertinent laws.
(c) Description of the common areas and facilities;
Sec. 3. As used in this Act, unless the context otherwise requires:
(d) A statement of the exact nature of the interest acquired or to be acquired by the
(a) "Condominium" means a condominium as defined in the next preceding purchaser in the separate units and in the common areas of the condominium
section. project. Where title to or the appurtenant interests in the common areas is or is to
be held by a condominium corporation, a statement to this effect shall be included;
(b) "Unit" means a part of the condominium project intended for any type of
independent use or ownership, including one or more rooms or spaces located in (e) Statement of the purposes for which the building or buildings and each of the
one or more floors (or part or parts of floors) in a building or buildings and such units are intended or restricted as to use;
accessories as may be appended thereto.
(f) A certificate of the registered owner of the property, if he is other than those
(c) "Project" means the entire parcel of real property divided or to be divided in executing the master deed, as well as of all registered holders of any lien or
condominiums, including all structures thereon, encumbrance on the property, that they consent to the registration of the deed;
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(g) The following plans shall be appended to the deed as integral parts thereof: (a) The boundary of the unit granted are the interior surfaces of the perimeter
walls, floors, ceilings, windows and doors thereof. The following are not part of the
(1) A survey plan of the land included in the project, unless a survey plan of the unit bearing walls, columns, floors, roofs, foundations and other common structural
same property had previously bee filed in said office; elements of the building; lobbies, stairways, hallways, and other areas of common
use, elevator equipment and shafts, central heating, central refrigeration and
(2) A diagrammatic floor plan of the building or buildings in the project, in sufficient central air-conditioning equipment, reservoirs, tanks, pumps and other central
detail to identify each unit, its relative location and approximate dimensions; services and facilities, pipes, ducts, flues, chutes, conduits, wires and other utility
installations, wherever located, except the outlets thereof when located within the
(h) Any reasonable restriction not contrary to law, morals or public policy regarding unit.
the right of any condominium owner to alienate or dispose of his condominium.
(b) There shall pass with the unit, as an appurtenance thereof, an exclusive
The enabling or master deed may be amended or revoked upon registration of an easement for the use of the air space encompassed by the boundaries of the unit
instrument executed by the registered owner or owners of the property and as it exists at any particular time and as the unit may lawfully be altered or
consented to by all registered holders of any lien or encumbrance on the land or reconstructed from time to time. Such easement shall be automatically terminated
building or portion thereof. The term "registered owner" shall include the registered in any air space upon destruction of the unit as to render it untenantable.
owners of condominiums in the project. Until registration of a revocation, the
provisions of this Act shall continue to apply to such property. (c) Unless otherwise, provided, the common areas are held in common by the
holders of units, in equal shares, one for each unit.
Sec. 5. Any transfer or conveyance of a unit or an apartment, office or store or
other space therein, shall include the transfer or conveyance of the undivided (d) A non-exclusive easement for ingress, egress and support through the
interests in the common areas or, in a proper case, the membership or common areas is appurtenant to each unit and the common areas are subject to
shareholdings in the condominium corporation: Provided, however, That where the such easements.
common areas in the condominium project are owned by the owners of separate
units as co-owners thereof, no condominium unit therein shall be conveyed or (e) Each condominium owner shall have the exclusive right to paint, repaint, tile,
transferred to persons other than Filipino citizens, or corporations at least sixty wax, paper or otherwise refinish and decorate the inner surfaces of the walls,
percent of the capital stock of which belong to Filipino citizens, except in cases of ceilings, floors, windows and doors bounding his own unit.
hereditary succession. Where the common areas in a condominium project are
held by a corporation, no transfer or conveyance of a unit shall be valid if the (f) Each condominium owner shall have the exclusive right to mortgage, pledge or
concomitant transfer of the appurtenant membership or stockholding in the encumber his condominium and to have the same appraised independently of the
corporation will cause the alien interest in such corporation to exceed the limits other condominiums but any obligation incurred by such condominium owner is
imposed by existing laws. personal to him.
Sec. 6. Unless otherwise expressly provided in the enabling or master deed or the (g) Each condominium owner has also the absolute right to sell or dispose of his
declaration of restrictions, the incidents of a condominium grant are as follows: condominium unless the master deed contains a requirement that the property be
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first offered to the condominium owners within a reasonable period of time before (e) That the conditions for such partition by sale set forth in the declaration of
the same is offered to outside parties; restrictions, duly registered in accordance with the terms of this Act, have been
met.
Sec. 7. Except as provided in the following section, the common areas shall
remain undivided, and there shall be no judicial partition thereof. Sec. 9. The owner of a project shall, prior to the conveyance of any condominium
therein, register a declaration of restrictions relating to such project, which
Sec. 8. Where several persons own condominiums in a condominium project, an restrictions shall constitute a lien upon each condominium in the project, and shall
action may be brought by one or more such persons for partition thereof by sale of insure to and bind all condominium owners in the project. Such liens, unless
the entire project, as if the owners of all of the condominiums in such project were otherwise provided, may be enforced by any condominium owner in the project or
co-owners of the entire project in the same proportion as their interests in the by the management body of such project. The Register of Deeds shall enter and
common areas: Provided, however, That a partition shall be made only upon a annotate the declaration of restrictions upon the certificate of title covering the land
showing: included within the project, if the land is patented or registered under the Land
Registration or Cadastral Acts.
(a) That three years after damage or destruction to the project which renders
material part thereof unit for its use prior thereto, the project has not been rebuilt or The declaration of restrictions shall provide for the management of the project by
repaired substantially to its state prior to its damage or destruction, or anyone of the following management bodies: a condominium corporation, an
association of the condominium owners, a board of governors elected by
(b) That damage or destruction to the project has rendered one-half or more of the condominium owners, or a management agent elected by the owners or by the
units therein untenantable and that condominium owners holding in aggregate board named in the declaration. It shall also provide for voting majorities quorums,
more than thirty percent interest in the common areas are opposed to repair or notices, meeting date, and other rules governing such body or bodies.
restoration of the project; or
Such declaration of restrictions, among other things, may also provide:
(c) That the project has been in existence in excess of fifty years, that it is obsolete
and uneconomic, and that condominium owners holding in aggregate more than (a) As to any such management body;
fifty percent interest in the common areas are opposed to repair or restoration or
remodeling or modernizing of the project; or (1) For the powers thereof, including power to enforce the provisions of the
declarations of restrictions;
(d) That the project or a material part thereof has been condemned or expropriated
and that the project is no longer viable, or that the condominium owners holding in (2) For maintenance of insurance policies, insuring condominium owners against
aggregate more than seventy percent interest in the common areas are opposed loss by fire, casualty, liability, workmen's compensation and other insurable risks,
to continuation of the condominium regime after expropriation or condemnation of and for bonding of the members of any management body;
a material portion thereof; or
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(3) Provisions for maintenance, utility, gardening and other services benefiting the (e) For the subordination of the liens securing such assessments to other liens
common areas, for the employment of personnel necessary for the operation of the either generally or specifically described;
building, and legal, accounting and other professional and technical services;
(f) For conditions, other than those provided for in Sections eight and thirteen of
(4) For purchase of materials, supplies and the like needed by the common areas; this Act, upon which partition of the project and dissolution of the condominium
corporation may be made. Such right to partition or dissolution may be conditioned
(5) For payment of taxes and special assessments which would be a lien upon the upon failure of the condominium owners to rebuild within a certain period or upon
entire project or common areas, and for discharge of any lien or encumbrance specified inadequacy of insurance proceeds, or upon specified percentage of
levied against the entire project or the common areas; damage to the building, or upon a decision of an arbitrator, or upon any other
reasonable condition.
(6) For reconstruction of any portion or portions of any damage to or destruction of
the project; Sec. 10. Whenever the common areas in a condominium project are held by a
condominium corporation, such corporation shall constitute the management body
(7) The manner for delegation of its powers; of the project. The corporate purposes of such a corporation shall be limited to the
holding of the common areas, either in ownership or any other interest in real
(8) For entry by its officers and agents into any unit when necessary in connection property recognized by law, to the management of the project, and to such other
with the maintenance or construction for which such body is responsible; purposes as may be necessary, incidental or convenient to the accomplishment of
said purposes. The articles of incorporation or by-laws of the corporation shall not
(9) For a power of attorney to the management body to sell the entire project for contain any provision contrary to or inconsistent with the provisions of this Act, the
the benefit of all of the owners thereof when partition of the project may be enabling or master deed, or the declaration of restrictions of the project.
Membership in a condominium corporation, regardless of whether it is a stock or
authorized under Section 8 of this Act, which said power shall be binding upon all
of the condominium owners regardless of whether they assume the obligations of non-stock corporation, shall not be transferable separately from the condominium
the restrictions or not. unit of which it is an appurtenance. When a member or stockholder ceases to own
a unit in the project in which the condominium corporation owns or holds the
common areas, he shall automatically cease to be a member or stockholder of the
(b) The manner and procedure for amending such restrictions: Provided, That the
condominium corporation.
vote of not less than a majority in interest of the owners is obtained.
Sec. 11. The term of a condominium corporation shall be co-terminus with the
(c) For independent audit of the accounts of the management body;
duration of the condominium project, the provisions of the Corporation Law to the
contrary notwithstanding.
(d) For reasonable assessments to meet authorized expenditures, each
condominium unit to be assessed separately for its share of such expenses in
Sec. 12. In case of involuntary dissolution of a condominium corporation for any of
proportion (unless otherwise provided) to its owners fractional interest in any
the causes provided by law, the common areas owned or held by the corporation
common areas;
shall, by way of liquidation, be transferred pro-indiviso and in proportion to their
interest in the corporation to the members or stockholders thereof, subject to the
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superior rights of the corporation creditors. Such transfer or conveyance shall be (e) That the conditions for such a dissolution set forth in the declaration of
deemed to be a full liquidation of the interest of such members or stockholders in restrictions of the project in which the corporation owns of holds the common
the corporation. After such transfer or conveyance, the provisions of this Act areas, have been met.
governing undivided co-ownership of, or undivided interest in, the common areas
in condominium projects shall fully apply. Sec. 14. The condominium corporation may also be dissolved by the affirmative
vote of all the stockholders or members thereof at a general or special meeting
Sec. 13. Until the enabling or the master deed of the project in which the duly called for the purpose: Provided, That all the requirements of Section sixty-
condominium corporation owns or holds the common area is revoked, the two of the Corporation Law are complied with.
corporation shall not be voluntarily dissolved through an action for dissolution
under Rule 104 of the Rules of Court except upon a showing: Sec. 15. Unless otherwise provided for in the declaration of restrictions upon
voluntary dissolution of a condominium corporation in accordance with the
(a) That three years after damage or destruction to the project in which the provisions of Sections thirteen and fourteen of this Act, the corporation shall be
corporation owns or holds the common areas, which damage or destruction deemed to hold a power of attorney from all the members or stockholders to sell
renders a material part thereof unfit for its use prior thereto, the project has not and dispose of their separate interests in the project and liquidation of the
been rebuilt or repaired substantially to its state prior to its damage or destruction; corporation shall be effected by a sale of the entire project as if the corporation
or owned the whole thereof, subject to the rights of the corporate and of individual
condominium creditors.
(b) That damage or destruction to the project has rendered one-half or more of the
units therein untenantable and that more than thirty percent of the members of the Sec. 16. A condominium corporation shall not, during its existence, sell, exchange,
corporation, if non-stock, or the shareholders representing more than thirty percent lease or otherwise dispose of the common areas owned or held by it in the
of the capital stock entitled to vote, if a stock corporation, are opposed to the repair condominium project unless authorized by the affirmative vote of all the
or reconstruction of the project, or stockholders or members.
(c) That the project has been in existence in excess of fifty years, that it is obsolete Sec. 17. Any provision of the Corporation Law to the contrary notwithstanding, the
and uneconomical, and that more than fifty percent of the members of the by-laws of a condominium corporation shall provide that a stockholder or member
corporation, if non-stock, or the stockholders representing more than fifty percent shall not be entitled to demand payment of his shares or interest in those cases
of the capital stock entitled to vote, if a stock corporation, are opposed to the repair where such right is granted under the Corporation Law unless he consents to sell
or restoration or remodeling or modernizing of the project; or his separate interest in the project to the corporation or to any purchaser of the
corporation's choice who shall also buy from the corporation the dissenting
(d) That the project or a material part thereof has been condemned or expropriated member or stockholder's interest. In case of disagreement as to price, the
and that the project is no longer viable, or that the members holding in aggregate procedure set forth in the appropriate provision of the Corporation Law for
more than seventy percent interest in the corporation, if non-stock, or the valuation of shares shall be followed. The corporation shall have two years within
stockholders representing more than seventy percent of the capital stock entitled which to pay for the shares or furnish a purchaser of its choice from the time of
to vote, if a stock corporation, are opposed to the continuation of the condominium award. All expenses incurred in the liquidation of the interest of the dissenting
regime after expropriation or condemnation of a material portion thereof; or member or stockholder shall be borne by him.
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Sec. 18. Upon registration of an instrument conveying a condominium, the other charges thereon, such as interest, costs (including attorney's fees) and
Register of Deeds shall, upon payment of the proper fees, enter and annotate the penalties, as such may be provided for in the declaration of restrictions, shall be
conveyance on the certificate of title covering the land included within the project and become a lien upon the condominium assessed when the management body
and the transferee shall be entitled to the issuance of a "condominium owner's" causes a notice of assessment to be registered with the Register of Deeds of the
copy of the pertinent portion of such certificate of title. Said "condominium owner's" city or province where such condominium project is located. The notice shall state
copy need not reproduce the ownership status or series of transactions in force or the amount of such assessment and such other charges thereon a may be
annotated with respect to other condominiums in the project. A copy of the authorized by the declaration of restrictions, a description of the condominium, unit
description of the land, a brief description of the condominium conveyed, name against which same has been assessed, and the name of the registered owner
and personal circumstances of the condominium owner would be sufficient for thereof. Such notice shall be signed by an authorized representative of the
purposes of the "condominium owner's" copy of the certificate of title. No management body or as otherwise provided in the declaration of restrictions. Upon
conveyance of condominiums or part thereof, subsequent to the original payment of said assessment and charges or other satisfaction thereof, the
conveyance thereof from the owner of the project, shall be registered unless management body shall cause to be registered a release of the lien.
accompanied by a certificate of the management body of the project that such
conveyance is in accordance with the provisions of the declaration of restrictions of Such lien shall be superior to all other liens registered subsequent to the
such project. registration of said notice of assessment except real property tax liens and except
that the declaration of restrictions may provide for the subordination thereof to any
In cases of condominium projects registered under the provisions of the Spanish other liens and encumbrances.
Mortgage Law or Act 3344, as amended, the registration of the deed of
conveyance of a condominium shall be sufficient if the Register of Deeds shall Such liens may be enforced in the same manner provided for by law for the judicial
keep the original or signed copy thereof, together with the certificate of the or extra-judicial foreclosure of mortgages of real property. Unless otherwise
management body of the project, and return a copy of the deed of conveyance to provided for in the declaration of restrictions, the management body shall have
the condominium owner duly acknowledge and stamped by the Register of Deeds power to bid at foreclosure sale. The condominium owner shall have the same
in the same manner as in the case of registration of conveyances of real property right of redemption as in cases of judicial or extra-judicial foreclosure of
under said laws. mortgages.
Sec. 19. Where the enabling or master deed provides that the land included within Sec. 21. No labor performed or services or materials furnished with the consent of
a condominium project are to be owned in common by the condominium owners or at the request of a condominium owner or his agent or his contractor or
therein, the Register of Deeds may, at the request of all the condominium owners subcontractor, shall be the basis of a lien against the condominium of any other
and upon surrender of all their "condominium owner's" copies, cancel the condominium owner, unless such other owners have expressly consented to or
certificates of title of the property and issue a new one in the name of said requested the performance of such labor or furnishing of such materials or
condominium owners as pro-indiviso co-owners thereof. services. Such express consent shall be deemed to have been given by the owner
of any condominium in the case of emergency repairs of his condominium unit.
Sec. 20. An assessment upon any condominium made in accordance with a duly Labor performed or services or materials furnished for the common areas, if duly
registered declaration of restrictions shall be an obligation of the owner thereof at authorized by the management body provided for in a declaration of restrictions
the time the assessment is made. The amount of any such assessment plus any governing the property, shall be deemed to be performed or furnished with the
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express consent of each condominium owner. The owner of any condominium Sec. 26. All Acts or parts of Acts in conflict or inconsistent with this Act are hereby
may remove his condominium from a lien against two or more condominiums or amended insofar as condominium and its incidents are concerned.
any part thereof by payment to the holder of the lien of the fraction of the total sum
secured by such lien which is attributable to his condominium unit. Sec. 27. This Act shall take effect upon its approval.
Sec. 22. Unless otherwise provided for by the declaration of restrictions, the Approved: June 18, 1966
management body, provided for herein, may acquire and hold, for the benefit of
the condominium owners, tangible and intangible personal property and may
dispose of the same by sale or otherwise; and the beneficial interest in such 1. What is a condominium?
personal property shall be owned by the condominium owners in the same
proportion as their respective interests in the common areas. A transfer of a A condominium, according to the law, is an “interest in a real property consisting of
condominium shall transfer to the transferee ownership of the transferor's a separate interest in a unit in a residential, industrial, or commercial building and
beneficial interest in such personal property. an undivided interest in common, directly or indirectly, in the land in which it is
located and in other common areas of the building.”
Sec. 23. Where, in an action for partition of a condominium project or for the In other words, a condominium is a building where sections of which can be owned
dissolution of condominium corporation on the ground that the project or a material individually by a person or, in some cases, a corporation. This can be for either a
part thereof has been condemned or expropriated, the Court finds that the residential, industrial, or commercial purpose.
conditions provided for in this Act or in the declaration of restrictions have not been
met, the Court may decree a reorganization of the project, declaring which portion
or portions of the project shall continue as a condominium project, the owners 2. Who can own condominiums?
thereof, and the respective rights of said remaining owners and the just
compensation, if any, that a condominium owner may be entitled to due to Filipino citizens and corporations can own condominiums. Foreigners, however,
deprivation of his property. Upon receipt of a copy of the decree, the Register of are restricted to owning no more than 40 percent
Deeds shall enter and annotate the same on the pertinent certificate of title. of the total and outstanding capital stock of a corporation, which must be Filipino-
owned and controlled. In addition to that restriction, foreigners and foreign
Sec. 24. Any deed, declaration or plan for a condominium project shall be liberally corporations are, by law, prohibited to own land.
construed to facilitate the operation of the project, and its provisions shall be
presumed to be independent and severable.
3. Who can own condominium units?
Sec. 25. Whenever real property has been divided into condominiums, each
Again, Filipino citizens and corporations can own condominium units. This time,
condominium separately owned shall be separately assessed, for purposes of real
however, foreigners, by virtue of the Condominium Act, are allowed to purchase
property taxation and other tax purposes to the owners thereof and the tax on each
and acquire condominium units.
such condominium shall constitute a lien solely thereon.
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As a unit owner, you are, in essence, a co-owner of the condominium, entitled to 8. Can I freely sell my unit?
such privileges and limited by such restrictions that may follow the title.
Yes. That is not prohibited in the condominium law. When you sell your unit,
however, you are not just selling the unit itself, you are also selling your interest in
5. What forms part of a condominium unit? the common areas, as well as your membership and shareholdings in the
condominium corporation.
Everything within the boundaries of your unit forms part of the same. According to
the law, the interior surfaces of the perimeter walls, floors, ceilings, windows, and
doors form the boundary of your unit. That is, of course, unless the master deed or 9. Can I freely sell my condominium?
the declaration of restrictions prescribed by the condominium corporation or the
administration stipulate otherwise. Not exactly. Selling a unit may be simple, but selling a condominium is restricted
by certain rules under the Condominium Act. One of such restrictions is the
ownership requirement. For condominiums where the common areas are co-
6. Am I allowed to alter anything beyond the boundaries of my unit? owned by the owners of the units, the law requires that the purchaser be either a
Filipino citizen or corporation—a corporation that is at least 60 percent owned and
Generally, no. However, if the administration allows such alteration or does not
controlled by Filipinos. For condominiums owned by corporations, the sale will be
prohibit the same, then you may be allowed to. A thorough read of the house rules
deemed invalid if such a sale would result in the foreign interest in the corporation
or the contract would be a good idea.
exceeding the limits prescribed by law, which in this case, is 40 percent. In other
words, in both cases, the foreign ownership in the purchasing corporation cannot
7. What do not form part of the condominium unit? exceed 40 percent, otherwise the sale would be invalid.
In most cases, areas that are not found inside the unit are deemed to be excluded
from the unit but the condominium law itself lists aspects of properties that 10. Can I mortgage my unit for a loan?
generally do not form part of the unit. To wit: “bearing walls, columns, floors, roofs,
Yes. The condominium law states that “each condominium owner shall have the
foundations, and other common structural elements (e.g., lobbies, stairways,
exclusive right to mortgage, pledge, or encumber his condominium and to have the
hallways, and other common areas), elevator equipment and shafts, central
same appraised independently of the other condominium owner is personal to
heating, central refrigeration, and central air-conditioning equipment, reservoirs,
him.”
tanks, pumps, and other central services and facilities, pipes, ducts, flutes, chutes,
conduits, wires, and other utility installations, wherever located.” An exception to
the list are those outlets that are located within the unit. Like any property, a condo unit can be mortgaged by its owner for a loan. Photo
via Shutterstock
Hallways, like other common areas, are not parts of condo units and, hence, are
not owned exclusively by a single owner. However, these areas are owned 11. Can the condominium corporation sell the condominium without my
collectively by the condo corporation. Photo via Shutterstock consent?
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As a general rule, it can. However, if the master deed contains a requirement that 15. I own a condominium building, and I want to amend or revoke the master
the property should first be offered to the other condominium owners within a deed. May I do so without reservation?
reasonable time before offering it to third parties, then it may not.
No. The Condominium Act states that you can only do this upon the registration of
Another restriction, however, is one that has been amended to the Corporation an instrument (a formal legal document) executed by a simple majority of the
Code by Republic Act No. 7899, which states that, as an owner, you shall not, sell, registered owners of the property. In this case, a simple majority could mean either
exchange, lease, or otherwise dispose of the common areas of a condominium of the two: a majority based on per-unit ownership or a majority based on the floor
without the approval of the simple majority of the registered owners, subject as area of ownership.
well, to the approval of the Housing and Land Use Regulatory Board (HLURB).
For condominiums used for either residential or commercial purposes, the former
would apply, while if it is for a mix of both purposes, it is the latter. This
12. The Condominium Act stipulates that the owners can sell the requirement also stipulates that the registered owners must be notified in advance.
condominium after 50 years. Does that mean that I will not have any say in Evidence of a vote of a simple majority must also be submitted to the HLURB.
the sale?
No, that is not the case. Upon turnover of the unit to you, you become a member of
the corporation that owns the condominium. Hence, your concurrence or dissent
on the matter will count. If, however, it has been decided that the building shall be
sold, then you will be compensated your appropriate share from the proceeds of
the sale.
Generally, titles to the common areas are held by a corporation formed for the
purpose. However, the condominium law also states that the common areas are
held in common by the unit holders, in equal share for each unit.
Aside from those already mentioned, the only other right you have as a unit owner
is the right to renovate your unit, for as long as all renovations are done within the
boundaries of your unit. All restrictions on your rights and activities are those that
are stipulated in the declaration of restrictions or on the contract you signed upon
the turnover of the unit to you.