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Condominium Law in the Philippines

The definition of the condominium or condo is the type of housing tenure and other real property where a particular part or portion of a real estate (an apartment typically) is independently owned while use of and has the right to use to common services, facilities in the piece such as the hallways, elevators, exterior areas of the building and many others is executed under legal rights linked with the individual ownership and controlled by the association of the building owner that are mutually represent ownership of the whole piece. Or in other terms for a condo is an Apartment which means that the people residing in the space provided for them owns as opposite to rents.

Dissimilarity of a condo to an apartment complex is purely legal. There is no other method to spot or differentiate a condo to an apartment just by merely looking at it, and what distinguish condominium is the form of ownership. Equally the same building developed and constructed as a condo and they were sold individually by the owner to different buyers. The units can be built on any locations depending on the spot where there’s a potential buyer. On the other hand building a condo unit is a practical investment because of the returns of investment, the sales market and there is a quality standard than an apartment.

The Philippines in particular has its own Condominium Law. There is a jurisdiction as the Republic Act no. 4726 otherwise as the Condominium Act of the Philippines is the central law on condominiums. The condominium Act as amended put down all the necessary requirements in constructing a condominium building.

Under the decree the condominium is merely defined as an interest in real property which consist of a division of interest in a unit or space in residential, industrial or commercial building and an undivided interest in familiar or regular directly or indirectly, in the land on which it is place and in common areas of the constructed building. In other cases, where a co-owners of part units hold interest on the land where the condominium unit located.

There is also rule that the condominium Act provides that in any case the common areas are held by the owners of the divided unit of the building as co-owner, that there is no such thing as a condominium unit therein shall be transferred to another person’s other than a Filipino citizens, with the exception of hereditary succession of the unit. There is also a case that the common areas in a condominium unit that are owned and manage by corporation, any hand over of interest that can change or augment alien interest thereby exceeding the limits set by law is barred.

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  1. Reply Virgobus 13/03/01

    I would like to ask if the Developers of a condominiums are also the owners of the land wherein the projects are located. Thanks.

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