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Elec 2 Quiz 003

The document outlines key concepts and regulations related to condominium ownership and management, including ownership rights, payment obligations, and legal frameworks such as the Condominium Act (RA 4726). It includes questions and answers that cover topics like the formation of condominium corporations, rights of buyers, and the roles of developers and associations. The document serves as a study guide for board examination preparation in real estate holding and condominium law.

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bebethbendoy
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15 views5 pages

Elec 2 Quiz 003

The document outlines key concepts and regulations related to condominium ownership and management, including ownership rights, payment obligations, and legal frameworks such as the Condominium Act (RA 4726). It includes questions and answers that cover topics like the formation of condominium corporations, rights of buyers, and the roles of developers and associations. The document serves as a study guide for board examination preparation in real estate holding and condominium law.

Uploaded by

bebethbendoy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ELEC 2.

(AY2024)
Total points42/50
CONDOMINIUM AND OTHER TYPE OF REAL ESTATE HOLDING
Instruction: In preparation for your board examination, answer and understand the questions
below:

Sum assessed by the association but unpaid by a unit owner.


*
2/2
Balance
Debts
Enforceable lien
Area allocated for parks and playgrounds shall in no case be less than.

*
2/2
80 sqm
50 sqm
100 sqm
Hold title on the land of the condominium project.
*

2/2
Project owner
Association
Condominium Corporation
Evidence of ownership in a condominium unit.

*2/2
Condominium certificate of title
Original certificate of title
Certificate of ownership

The condominium act.


*
2/2

RA 4726
RA 4276
RA 8799
Foreigner can own up to how many of the total number of units in a condominium.
*
2/2

40%
60%
50%
The owner or developer shall deliver the title of the lot or unit to the buyer upon.
*
2/2
50% paid
80% paid
Full payment
Conflict of provision between article of incorporation and master deed, which shall
prevail.
*2/2
Article of Incorporation
Association
Master deed
Formation of Condominium Corporation is.
*
2/2
It depends
Optional
Necessary

The condominium can be dissolved by.


*
2/2

Affirmative vote of all member


Affirmative vote of majority
Affirmative vote of 80%

The rights of the buyer in the event of his failure to pay the installments due for reasons
other than the failure of the owner or developer to develop the project shall be
governed by.
*
2/2
RA 6552
RA 5662
RA 6523

Established the birth of the condominium corporation.


*
2/2
Articles of incorporation
By-laws
Master deed

Established birth of the condominium project.


*
2/2
By laws
Articles of Incorporation
Master deed
In times when Condominium Corporation involuntarily dissolved, whose rights are
superior?
*

2/2
Corporation
Owners
Creditors
Document showing that developer is authorized to sell any subdivision lot or
condominium unit in the registered project.
*
2/2
Project permit
Permit to sell
License to sell
Entire project excepting units separately granted or held reserve.

*
2/2
Common areas

Reserve area
Project area
Part of the condominium project intended for any type of independent ownership.
*
2/2

Unit
Building
Stairs

Entire parcel of real property divided or to be divided into condominium.


*
2/2

Project
Building
Common unit

Maybe amended or revoke upon registration of instrument executed by simple majority


of the registered owners of the property.
*
2/2
Articles of Incorporation
Master deed
By-Laws
An act amending section four and section sixteen of RA 4726.
*
2/2
RA 8799
RA 7899
RA 4726

Maximum non saleable area of open market and medium cost subdivision.
*
2/2
30 %
40%
20%

WRONG ANSWER
Ownership consisting of individual co-owners residing in multiunit structures who have
joint ownership in common areas.
*
0/2
Subdivision
CorporatioN
Condominium

Correct answer
Condominium
Real estate tax and assessment on a lot or unit as long as the title has not passed the
buyer shall be paid by.
*
0/2
Developer
Buyer
Seller

Correct answer
Developer
Shall mean a natural or a juridical person.
*
0/2
Person
Partnership
Corporation
Correct answer

Person

Maximum saleable are of open market and medium cost subdivision.


*
0/2
50%
70%
30%
Correct answer

70%

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