[feather\/share]<\/p>\n
<\/p>\n
1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)?<\/span><\/button><\/p>\nPD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from liens\/encumbrances, and prevent fraudulent practices and double sales.<\/p>\n<\/div>\n\n2.)\u00a0Under PD 957, how is \u201cSale\u201d defined, and does it include contracts to sell and similar arrangements?<\/span><\/button><\/p>\nYes. \u201cSale\u201d includes every disposition or attempt to dispose for valuable consideration, and expressly includes contracts to sell, contracts of purchase and sale, exchange, option of sale\/purchase, solicitation, offer to sell, and even privilege\/certificate of receipt in cooperatives\/corporations that gives the right to participate in or acquire land.<\/p>\n<\/div>\n\n3.)\u00a0Who has exclusive jurisdiction to regulate the real estate trade and business under PD 957?<\/span><\/button><\/p>\nThe National Housing Authority (Authority) has exclusive jurisdiction to regulate the real estate trade and business in accordance with PD 957.<\/p>\n<\/div>\n\n4.)\u00a0What is required before an owner\/dealer can sell subdivision lots or condominium units under PD 957?<\/span><\/button><\/p>\nThe owner\/dealer must (1) register the project with the Authority, obtain a registration certificate after publication requirements, and then (2) obtain a license to sell from the Authority before selling.<\/p>\n<\/div>\n\n5.)\u00a0What documents must be attached to the sworn registration statement filed with the Authority?<\/span><\/button><\/p>\nA copy of the approved subdivision\/condominium plan; a copy of any circular\/prospectus\/brochure\/advertisement\/letter for public offering; for business firms, a balance sheet and corporate\/partnership documents with amendments and by-laws; and a title to the property free from liens and encumbrances (with a permitted mortgage stipulation allowing release per unit\/lot upon full payment).<\/p>\n<\/div>\n\n6.)\u00a0Explain the publication requirement for project registration and when the project is deemed registered.<\/span><\/button><\/p>\nThe Authority requires publication of a notice of filing the registration statement in two newspapers of general circulation (one English, one Pilipino) once a week for two consecutive weeks, at the applicant\u2019s expense. The project is deemed registered upon completion of the publication requirement.<\/p>\n<\/div>\n\n7.)\u00a0What standards must the Authority be \u201cconvinced\u201d of before issuing a license to sell?<\/span><\/button><\/p>\nThe Authority must be convinced that the owner\/dealer is of good repute, financially stable, and that the proposed sales to the public would not be fraudulent.<\/p>\n<\/div>\n\n8.)\u00a0What is a performance bond under PD 957, and what does it guarantee?<\/span><\/button><\/p>\nNo license to sell is issued without an adequate performance bond approved by the Authority. It guarantees construction and maintenance of roads, gutters, drainage, sewerage, water systems, lighting systems, full development of the project, and compliance with applicable laws\/rules.<\/p>\n<\/div>\n\n9.)\u00a0What transactions are exempt from requiring a license to sell and performance bond under PD 957?<\/span><\/button><\/p>\nExempt transactions include: (1) sale resulting from partition among co-owners\/co-heirs; (2) sale\/transfer by the original purchaser and subsequent sale of the same lot; and (3) sale by or for account of a mortgagee in ordinary course when necessary to liquidate a bona fide debt.<\/p>\n<\/div>\n\n10.)\u00a0Under what circumstances may the Authority suspend a license to sell prior to final decision?<\/span><\/button><\/p>\nUpon verified complaint by a buyer or interested party, the Authority may immediately suspend pending investigation\/hearing. It may also motu proprio suspend if information in the registration statement is misleading\/incorrect\/inadequate\/incomplete or if the offering may tend to work a fraud upon prospective buyers.<\/p>\n<\/div>\n\n11.)\u00a0When may the Authority revoke the registration certificate and license to sell, and what are at least three grounds?<\/span><\/button><\/p>\nAfter examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n\n12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from liens\/encumbrances, and prevent fraudulent practices and double sales.<\/p>\n<\/div>\n
2.)\u00a0Under PD 957, how is \u201cSale\u201d defined, and does it include contracts to sell and similar arrangements?<\/span><\/button><\/p>\nYes. \u201cSale\u201d includes every disposition or attempt to dispose for valuable consideration, and expressly includes contracts to sell, contracts of purchase and sale, exchange, option of sale\/purchase, solicitation, offer to sell, and even privilege\/certificate of receipt in cooperatives\/corporations that gives the right to participate in or acquire land.<\/p>\n<\/div>\n\n3.)\u00a0Who has exclusive jurisdiction to regulate the real estate trade and business under PD 957?<\/span><\/button><\/p>\nThe National Housing Authority (Authority) has exclusive jurisdiction to regulate the real estate trade and business in accordance with PD 957.<\/p>\n<\/div>\n\n4.)\u00a0What is required before an owner\/dealer can sell subdivision lots or condominium units under PD 957?<\/span><\/button><\/p>\nThe owner\/dealer must (1) register the project with the Authority, obtain a registration certificate after publication requirements, and then (2) obtain a license to sell from the Authority before selling.<\/p>\n<\/div>\n\n5.)\u00a0What documents must be attached to the sworn registration statement filed with the Authority?<\/span><\/button><\/p>\nA copy of the approved subdivision\/condominium plan; a copy of any circular\/prospectus\/brochure\/advertisement\/letter for public offering; for business firms, a balance sheet and corporate\/partnership documents with amendments and by-laws; and a title to the property free from liens and encumbrances (with a permitted mortgage stipulation allowing release per unit\/lot upon full payment).<\/p>\n<\/div>\n\n6.)\u00a0Explain the publication requirement for project registration and when the project is deemed registered.<\/span><\/button><\/p>\nThe Authority requires publication of a notice of filing the registration statement in two newspapers of general circulation (one English, one Pilipino) once a week for two consecutive weeks, at the applicant\u2019s expense. The project is deemed registered upon completion of the publication requirement.<\/p>\n<\/div>\n\n7.)\u00a0What standards must the Authority be \u201cconvinced\u201d of before issuing a license to sell?<\/span><\/button><\/p>\nThe Authority must be convinced that the owner\/dealer is of good repute, financially stable, and that the proposed sales to the public would not be fraudulent.<\/p>\n<\/div>\n\n8.)\u00a0What is a performance bond under PD 957, and what does it guarantee?<\/span><\/button><\/p>\nNo license to sell is issued without an adequate performance bond approved by the Authority. It guarantees construction and maintenance of roads, gutters, drainage, sewerage, water systems, lighting systems, full development of the project, and compliance with applicable laws\/rules.<\/p>\n<\/div>\n\n9.)\u00a0What transactions are exempt from requiring a license to sell and performance bond under PD 957?<\/span><\/button><\/p>\nExempt transactions include: (1) sale resulting from partition among co-owners\/co-heirs; (2) sale\/transfer by the original purchaser and subsequent sale of the same lot; and (3) sale by or for account of a mortgagee in ordinary course when necessary to liquidate a bona fide debt.<\/p>\n<\/div>\n\n10.)\u00a0Under what circumstances may the Authority suspend a license to sell prior to final decision?<\/span><\/button><\/p>\nUpon verified complaint by a buyer or interested party, the Authority may immediately suspend pending investigation\/hearing. It may also motu proprio suspend if information in the registration statement is misleading\/incorrect\/inadequate\/incomplete or if the offering may tend to work a fraud upon prospective buyers.<\/p>\n<\/div>\n\n11.)\u00a0When may the Authority revoke the registration certificate and license to sell, and what are at least three grounds?<\/span><\/button><\/p>\nAfter examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n\n12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Yes. \u201cSale\u201d includes every disposition or attempt to dispose for valuable consideration, and expressly includes contracts to sell, contracts of purchase and sale, exchange, option of sale\/purchase, solicitation, offer to sell, and even privilege\/certificate of receipt in cooperatives\/corporations that gives the right to participate in or acquire land.<\/p>\n<\/div>\n
3.)\u00a0Who has exclusive jurisdiction to regulate the real estate trade and business under PD 957?<\/span><\/button><\/p>\nThe National Housing Authority (Authority) has exclusive jurisdiction to regulate the real estate trade and business in accordance with PD 957.<\/p>\n<\/div>\n\n4.)\u00a0What is required before an owner\/dealer can sell subdivision lots or condominium units under PD 957?<\/span><\/button><\/p>\nThe owner\/dealer must (1) register the project with the Authority, obtain a registration certificate after publication requirements, and then (2) obtain a license to sell from the Authority before selling.<\/p>\n<\/div>\n\n5.)\u00a0What documents must be attached to the sworn registration statement filed with the Authority?<\/span><\/button><\/p>\nA copy of the approved subdivision\/condominium plan; a copy of any circular\/prospectus\/brochure\/advertisement\/letter for public offering; for business firms, a balance sheet and corporate\/partnership documents with amendments and by-laws; and a title to the property free from liens and encumbrances (with a permitted mortgage stipulation allowing release per unit\/lot upon full payment).<\/p>\n<\/div>\n\n6.)\u00a0Explain the publication requirement for project registration and when the project is deemed registered.<\/span><\/button><\/p>\nThe Authority requires publication of a notice of filing the registration statement in two newspapers of general circulation (one English, one Pilipino) once a week for two consecutive weeks, at the applicant\u2019s expense. The project is deemed registered upon completion of the publication requirement.<\/p>\n<\/div>\n\n7.)\u00a0What standards must the Authority be \u201cconvinced\u201d of before issuing a license to sell?<\/span><\/button><\/p>\nThe Authority must be convinced that the owner\/dealer is of good repute, financially stable, and that the proposed sales to the public would not be fraudulent.<\/p>\n<\/div>\n\n8.)\u00a0What is a performance bond under PD 957, and what does it guarantee?<\/span><\/button><\/p>\nNo license to sell is issued without an adequate performance bond approved by the Authority. It guarantees construction and maintenance of roads, gutters, drainage, sewerage, water systems, lighting systems, full development of the project, and compliance with applicable laws\/rules.<\/p>\n<\/div>\n\n9.)\u00a0What transactions are exempt from requiring a license to sell and performance bond under PD 957?<\/span><\/button><\/p>\nExempt transactions include: (1) sale resulting from partition among co-owners\/co-heirs; (2) sale\/transfer by the original purchaser and subsequent sale of the same lot; and (3) sale by or for account of a mortgagee in ordinary course when necessary to liquidate a bona fide debt.<\/p>\n<\/div>\n\n10.)\u00a0Under what circumstances may the Authority suspend a license to sell prior to final decision?<\/span><\/button><\/p>\nUpon verified complaint by a buyer or interested party, the Authority may immediately suspend pending investigation\/hearing. It may also motu proprio suspend if information in the registration statement is misleading\/incorrect\/inadequate\/incomplete or if the offering may tend to work a fraud upon prospective buyers.<\/p>\n<\/div>\n\n11.)\u00a0When may the Authority revoke the registration certificate and license to sell, and what are at least three grounds?<\/span><\/button><\/p>\nAfter examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n\n12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The National Housing Authority (Authority) has exclusive jurisdiction to regulate the real estate trade and business in accordance with PD 957.<\/p>\n<\/div>\n
4.)\u00a0What is required before an owner\/dealer can sell subdivision lots or condominium units under PD 957?<\/span><\/button><\/p>\nThe owner\/dealer must (1) register the project with the Authority, obtain a registration certificate after publication requirements, and then (2) obtain a license to sell from the Authority before selling.<\/p>\n<\/div>\n\n5.)\u00a0What documents must be attached to the sworn registration statement filed with the Authority?<\/span><\/button><\/p>\nA copy of the approved subdivision\/condominium plan; a copy of any circular\/prospectus\/brochure\/advertisement\/letter for public offering; for business firms, a balance sheet and corporate\/partnership documents with amendments and by-laws; and a title to the property free from liens and encumbrances (with a permitted mortgage stipulation allowing release per unit\/lot upon full payment).<\/p>\n<\/div>\n\n6.)\u00a0Explain the publication requirement for project registration and when the project is deemed registered.<\/span><\/button><\/p>\nThe Authority requires publication of a notice of filing the registration statement in two newspapers of general circulation (one English, one Pilipino) once a week for two consecutive weeks, at the applicant\u2019s expense. The project is deemed registered upon completion of the publication requirement.<\/p>\n<\/div>\n\n7.)\u00a0What standards must the Authority be \u201cconvinced\u201d of before issuing a license to sell?<\/span><\/button><\/p>\nThe Authority must be convinced that the owner\/dealer is of good repute, financially stable, and that the proposed sales to the public would not be fraudulent.<\/p>\n<\/div>\n\n8.)\u00a0What is a performance bond under PD 957, and what does it guarantee?<\/span><\/button><\/p>\nNo license to sell is issued without an adequate performance bond approved by the Authority. It guarantees construction and maintenance of roads, gutters, drainage, sewerage, water systems, lighting systems, full development of the project, and compliance with applicable laws\/rules.<\/p>\n<\/div>\n\n9.)\u00a0What transactions are exempt from requiring a license to sell and performance bond under PD 957?<\/span><\/button><\/p>\nExempt transactions include: (1) sale resulting from partition among co-owners\/co-heirs; (2) sale\/transfer by the original purchaser and subsequent sale of the same lot; and (3) sale by or for account of a mortgagee in ordinary course when necessary to liquidate a bona fide debt.<\/p>\n<\/div>\n\n10.)\u00a0Under what circumstances may the Authority suspend a license to sell prior to final decision?<\/span><\/button><\/p>\nUpon verified complaint by a buyer or interested party, the Authority may immediately suspend pending investigation\/hearing. It may also motu proprio suspend if information in the registration statement is misleading\/incorrect\/inadequate\/incomplete or if the offering may tend to work a fraud upon prospective buyers.<\/p>\n<\/div>\n\n11.)\u00a0When may the Authority revoke the registration certificate and license to sell, and what are at least three grounds?<\/span><\/button><\/p>\nAfter examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n\n12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The owner\/dealer must (1) register the project with the Authority, obtain a registration certificate after publication requirements, and then (2) obtain a license to sell from the Authority before selling.<\/p>\n<\/div>\n
5.)\u00a0What documents must be attached to the sworn registration statement filed with the Authority?<\/span><\/button><\/p>\nA copy of the approved subdivision\/condominium plan; a copy of any circular\/prospectus\/brochure\/advertisement\/letter for public offering; for business firms, a balance sheet and corporate\/partnership documents with amendments and by-laws; and a title to the property free from liens and encumbrances (with a permitted mortgage stipulation allowing release per unit\/lot upon full payment).<\/p>\n<\/div>\n\n6.)\u00a0Explain the publication requirement for project registration and when the project is deemed registered.<\/span><\/button><\/p>\nThe Authority requires publication of a notice of filing the registration statement in two newspapers of general circulation (one English, one Pilipino) once a week for two consecutive weeks, at the applicant\u2019s expense. The project is deemed registered upon completion of the publication requirement.<\/p>\n<\/div>\n\n7.)\u00a0What standards must the Authority be \u201cconvinced\u201d of before issuing a license to sell?<\/span><\/button><\/p>\nThe Authority must be convinced that the owner\/dealer is of good repute, financially stable, and that the proposed sales to the public would not be fraudulent.<\/p>\n<\/div>\n\n8.)\u00a0What is a performance bond under PD 957, and what does it guarantee?<\/span><\/button><\/p>\nNo license to sell is issued without an adequate performance bond approved by the Authority. It guarantees construction and maintenance of roads, gutters, drainage, sewerage, water systems, lighting systems, full development of the project, and compliance with applicable laws\/rules.<\/p>\n<\/div>\n\n9.)\u00a0What transactions are exempt from requiring a license to sell and performance bond under PD 957?<\/span><\/button><\/p>\nExempt transactions include: (1) sale resulting from partition among co-owners\/co-heirs; (2) sale\/transfer by the original purchaser and subsequent sale of the same lot; and (3) sale by or for account of a mortgagee in ordinary course when necessary to liquidate a bona fide debt.<\/p>\n<\/div>\n\n10.)\u00a0Under what circumstances may the Authority suspend a license to sell prior to final decision?<\/span><\/button><\/p>\nUpon verified complaint by a buyer or interested party, the Authority may immediately suspend pending investigation\/hearing. It may also motu proprio suspend if information in the registration statement is misleading\/incorrect\/inadequate\/incomplete or if the offering may tend to work a fraud upon prospective buyers.<\/p>\n<\/div>\n\n11.)\u00a0When may the Authority revoke the registration certificate and license to sell, and what are at least three grounds?<\/span><\/button><\/p>\nAfter examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n\n12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
A copy of the approved subdivision\/condominium plan; a copy of any circular\/prospectus\/brochure\/advertisement\/letter for public offering; for business firms, a balance sheet and corporate\/partnership documents with amendments and by-laws; and a title to the property free from liens and encumbrances (with a permitted mortgage stipulation allowing release per unit\/lot upon full payment).<\/p>\n<\/div>\n
6.)\u00a0Explain the publication requirement for project registration and when the project is deemed registered.<\/span><\/button><\/p>\nThe Authority requires publication of a notice of filing the registration statement in two newspapers of general circulation (one English, one Pilipino) once a week for two consecutive weeks, at the applicant\u2019s expense. The project is deemed registered upon completion of the publication requirement.<\/p>\n<\/div>\n\n7.)\u00a0What standards must the Authority be \u201cconvinced\u201d of before issuing a license to sell?<\/span><\/button><\/p>\nThe Authority must be convinced that the owner\/dealer is of good repute, financially stable, and that the proposed sales to the public would not be fraudulent.<\/p>\n<\/div>\n\n8.)\u00a0What is a performance bond under PD 957, and what does it guarantee?<\/span><\/button><\/p>\nNo license to sell is issued without an adequate performance bond approved by the Authority. It guarantees construction and maintenance of roads, gutters, drainage, sewerage, water systems, lighting systems, full development of the project, and compliance with applicable laws\/rules.<\/p>\n<\/div>\n\n9.)\u00a0What transactions are exempt from requiring a license to sell and performance bond under PD 957?<\/span><\/button><\/p>\nExempt transactions include: (1) sale resulting from partition among co-owners\/co-heirs; (2) sale\/transfer by the original purchaser and subsequent sale of the same lot; and (3) sale by or for account of a mortgagee in ordinary course when necessary to liquidate a bona fide debt.<\/p>\n<\/div>\n\n10.)\u00a0Under what circumstances may the Authority suspend a license to sell prior to final decision?<\/span><\/button><\/p>\nUpon verified complaint by a buyer or interested party, the Authority may immediately suspend pending investigation\/hearing. It may also motu proprio suspend if information in the registration statement is misleading\/incorrect\/inadequate\/incomplete or if the offering may tend to work a fraud upon prospective buyers.<\/p>\n<\/div>\n\n11.)\u00a0When may the Authority revoke the registration certificate and license to sell, and what are at least three grounds?<\/span><\/button><\/p>\nAfter examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n\n12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The Authority requires publication of a notice of filing the registration statement in two newspapers of general circulation (one English, one Pilipino) once a week for two consecutive weeks, at the applicant\u2019s expense. The project is deemed registered upon completion of the publication requirement.<\/p>\n<\/div>\n
7.)\u00a0What standards must the Authority be \u201cconvinced\u201d of before issuing a license to sell?<\/span><\/button><\/p>\nThe Authority must be convinced that the owner\/dealer is of good repute, financially stable, and that the proposed sales to the public would not be fraudulent.<\/p>\n<\/div>\n\n8.)\u00a0What is a performance bond under PD 957, and what does it guarantee?<\/span><\/button><\/p>\nNo license to sell is issued without an adequate performance bond approved by the Authority. It guarantees construction and maintenance of roads, gutters, drainage, sewerage, water systems, lighting systems, full development of the project, and compliance with applicable laws\/rules.<\/p>\n<\/div>\n\n9.)\u00a0What transactions are exempt from requiring a license to sell and performance bond under PD 957?<\/span><\/button><\/p>\nExempt transactions include: (1) sale resulting from partition among co-owners\/co-heirs; (2) sale\/transfer by the original purchaser and subsequent sale of the same lot; and (3) sale by or for account of a mortgagee in ordinary course when necessary to liquidate a bona fide debt.<\/p>\n<\/div>\n\n10.)\u00a0Under what circumstances may the Authority suspend a license to sell prior to final decision?<\/span><\/button><\/p>\nUpon verified complaint by a buyer or interested party, the Authority may immediately suspend pending investigation\/hearing. It may also motu proprio suspend if information in the registration statement is misleading\/incorrect\/inadequate\/incomplete or if the offering may tend to work a fraud upon prospective buyers.<\/p>\n<\/div>\n\n11.)\u00a0When may the Authority revoke the registration certificate and license to sell, and what are at least three grounds?<\/span><\/button><\/p>\nAfter examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n\n12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The Authority must be convinced that the owner\/dealer is of good repute, financially stable, and that the proposed sales to the public would not be fraudulent.<\/p>\n<\/div>\n
8.)\u00a0What is a performance bond under PD 957, and what does it guarantee?<\/span><\/button><\/p>\nNo license to sell is issued without an adequate performance bond approved by the Authority. It guarantees construction and maintenance of roads, gutters, drainage, sewerage, water systems, lighting systems, full development of the project, and compliance with applicable laws\/rules.<\/p>\n<\/div>\n\n9.)\u00a0What transactions are exempt from requiring a license to sell and performance bond under PD 957?<\/span><\/button><\/p>\nExempt transactions include: (1) sale resulting from partition among co-owners\/co-heirs; (2) sale\/transfer by the original purchaser and subsequent sale of the same lot; and (3) sale by or for account of a mortgagee in ordinary course when necessary to liquidate a bona fide debt.<\/p>\n<\/div>\n\n10.)\u00a0Under what circumstances may the Authority suspend a license to sell prior to final decision?<\/span><\/button><\/p>\nUpon verified complaint by a buyer or interested party, the Authority may immediately suspend pending investigation\/hearing. It may also motu proprio suspend if information in the registration statement is misleading\/incorrect\/inadequate\/incomplete or if the offering may tend to work a fraud upon prospective buyers.<\/p>\n<\/div>\n\n11.)\u00a0When may the Authority revoke the registration certificate and license to sell, and what are at least three grounds?<\/span><\/button><\/p>\nAfter examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n\n12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
No license to sell is issued without an adequate performance bond approved by the Authority. It guarantees construction and maintenance of roads, gutters, drainage, sewerage, water systems, lighting systems, full development of the project, and compliance with applicable laws\/rules.<\/p>\n<\/div>\n
9.)\u00a0What transactions are exempt from requiring a license to sell and performance bond under PD 957?<\/span><\/button><\/p>\nExempt transactions include: (1) sale resulting from partition among co-owners\/co-heirs; (2) sale\/transfer by the original purchaser and subsequent sale of the same lot; and (3) sale by or for account of a mortgagee in ordinary course when necessary to liquidate a bona fide debt.<\/p>\n<\/div>\n\n10.)\u00a0Under what circumstances may the Authority suspend a license to sell prior to final decision?<\/span><\/button><\/p>\nUpon verified complaint by a buyer or interested party, the Authority may immediately suspend pending investigation\/hearing. It may also motu proprio suspend if information in the registration statement is misleading\/incorrect\/inadequate\/incomplete or if the offering may tend to work a fraud upon prospective buyers.<\/p>\n<\/div>\n\n11.)\u00a0When may the Authority revoke the registration certificate and license to sell, and what are at least three grounds?<\/span><\/button><\/p>\nAfter examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n\n12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Exempt transactions include: (1) sale resulting from partition among co-owners\/co-heirs; (2) sale\/transfer by the original purchaser and subsequent sale of the same lot; and (3) sale by or for account of a mortgagee in ordinary course when necessary to liquidate a bona fide debt.<\/p>\n<\/div>\n
10.)\u00a0Under what circumstances may the Authority suspend a license to sell prior to final decision?<\/span><\/button><\/p>\nUpon verified complaint by a buyer or interested party, the Authority may immediately suspend pending investigation\/hearing. It may also motu proprio suspend if information in the registration statement is misleading\/incorrect\/inadequate\/incomplete or if the offering may tend to work a fraud upon prospective buyers.<\/p>\n<\/div>\n\n11.)\u00a0When may the Authority revoke the registration certificate and license to sell, and what are at least three grounds?<\/span><\/button><\/p>\nAfter examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n\n12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Upon verified complaint by a buyer or interested party, the Authority may immediately suspend pending investigation\/hearing. It may also motu proprio suspend if information in the registration statement is misleading\/incorrect\/inadequate\/incomplete or if the offering may tend to work a fraud upon prospective buyers.<\/p>\n<\/div>\n
11.)\u00a0When may the Authority revoke the registration certificate and license to sell, and what are at least three grounds?<\/span><\/button><\/p>\nAfter examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n\n12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
After examination\/hearing (Sections 13 and 14 procedures), revocation may occur if there is evidence that the owner\/dealer is insolvent; violated PD 957 or rules\/undertakings; engaged\/is about to engage in fraudulent transactions; made misrepresentations in sale literature; is of bad business repute; or does not conduct business according to law\/sound business principles.<\/p>\n<\/div>\n
12.)\u00a0What is the purpose and effect of a cease and desist order under PD 957?<\/span><\/button><\/p>\nIf the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n\n13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
If the Authority appears that a person is engaged or about to engage in acts constituting or leading to violations, it may issue a cease and desist order to enjoin such acts, after due notice and hearing per the hearing procedure.<\/p>\n<\/div>\n
13.)\u00a0How does PD 957 address installation payments and the buyer\u2019s right against forfeiture?<\/span><\/button><\/p>\nNo installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n\n14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
No installment payment by a buyer may be forfeited if the buyer, after due notice, desists due to the owner\/developer\u2019s failure to develop according to approved plans within the time limit. The buyer may opt for reimbursement of total amount paid plus amortization interests (excluding delinquency interests) at legal rate.<\/p>\n<\/div>\n
14.)\u00a0What does PD 957 require regarding the issuance of title to buyers, including timing and fees?<\/span><\/button><\/p>\nThe owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n\n15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The owner\/developer must deliver the title upon full payment. No fee except those required for registration of the deed of sale may be collected for title issuance. If a mortgage remains outstanding at issuance, the owner\/developer must redeem the mortgage portion within six months so the fully paid buyer gets title secured and delivered.<\/p>\n<\/div>\n
15.)\u00a0How does PD 957 treat realty taxes before and after the buyer takes possession\/occupies?<\/span><\/button><\/p>\nReal estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n\n16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Real estate tax and assessment are paid by the owner\/developer without recourse to the buyer as long as title has not passed. If the buyer actually takes possession and occupies, the buyer becomes liable for such tax\/assessment effective the year following that taking.<\/p>\n<\/div>\n
16.)\u00a0What is the general rule on waivers of PD 957 requirements in contracts?<\/span><\/button><\/p>\nAny stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n\n17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Any stipulation or condition where a person waives compliance with PD 957 or rules issued pursuant thereto is void (nullity of waivers).<\/p>\n<\/div>\n
17.)\u00a0What penalties may be imposed for violations of PD 957, and who can be criminally responsible for corporate\/partnership violations?<\/span><\/button><\/p>\nUpon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n\n18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Upon conviction, violations may be punished by fine not exceeding P20,000 and\/or imprisonment not exceeding ten years. For corporations\/partnerships\/cooperatives\/associations, the President\/Manager\/Administrator or person in charge of administration shall be criminally responsible.<\/p>\n<\/div>\n
18.)\u00a0What are the Authority\u2019s visitorial (inspection) powers and how do they support enforcement?<\/span><\/button><\/p>\nThe Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n\n19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The Authority may examine business affairs and condition of entities engaged in selling, administer oaths, subpoena witnesses and documents, authorize ocular inspections through engineers, and inspect books\/papers\/letters and other documents.<\/p>\n<\/div>\n
19.)\u00a0Under PD 957, what is the effect of altering approved subdivision plans or represented facilities without permission?<\/span><\/button><\/p>\nNo owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
No owner\/developer may change or alter roads, open spaces, infrastructures\/facilities for public use or other subdivision development elements in the approved plan and\/or represented in advertisements without Authority permission and written conformity\/consent of the homeowners association; or if absent, consent of the majority of buyers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
[feather\/share] 1.)\u00a0What is the title and general purpose of Presidential Decree No. 957 (Subdivision and Condominium Buyers\u2019 Protective Decree)? PD 957 is titled the \u201cSubdivision and Condominium Buyers\u2019 Protective Decree.\u201d It aims to protect subdivision and condominium buyers by regulating sales and requiring developers\/sellers to provide and maintain basic subdivision\/construction requirements, deliver titles free from […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":3,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":798,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/posts\/786\/revisions\/798"}],"wp:attachment":[{"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alexi.pro\/index.php\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"\"](\"https:\/\/alexi.pro\/wp-content\/uploads\/2026\/05\/pd-9571.jpg\")
<\/p>\n