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26 Cards in this Set
- Front
- Back
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The highest policy making body for housing under the law is referred to as:
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The highest policy making body for housing under the law is referred to as.
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The following government agencies are attached agencies of the Housing and Urban Development Coordinating Council HUDCC, except:
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LAND REGISTRATION AUTHORITY
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The following are lectures of the Subdibvision and Condominium Buyers Protective Decree PD 957
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Defines rights or subdivision and condominium buyers
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Republic Act 7279 requires developers of residential subdivision projects to allocate this percentage of the projects area/cost into socialized housing
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20%
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Under the law as provided under PD1216 residential subdivisions require owners to provide adequate roads, alleys and open spaces equivalent to _______% of the total area of the subdivision project
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30%
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Under the governments socialized housing program, the ceiling amount for socialized housing has been increased last December 2008 to the amount of
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P400,000.00
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It is required under PD 957 that a person who plans to develop a farmlot subdivision project must first secure from HLURB a
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LICENSE TO SELL
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Before a developer can start selling lots or units in a condominium project, it must first secure from the HLURB
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Certificate of Registration
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The following types of projects are required to obtained a Certificate of Registration and License to Sell form HLURB, except:
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Private office building
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Bulk buying under PD 957 is exempted from securing a certificate of registration and license to sell under the following condition
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Introduction of housing units without altering original plan
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This type of project is exempted form securing a certificate of registration and license to sell from HLURB
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On site community mortgage project
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Homeowners associations are under the jurisdiction of the:
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Housing Land Use and Regulatory Board
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The registered owner or developer of the subdivision project may donate the roads and open space of the subdivision project to the city or municipality where it is located on the condition:
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The development of the projects is completed
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A buyer of a condominium unit bought a unit payable in 5 years starting January 2007 and then the unit was occupied and poised by the buyer last march 2010. When will the buyer start to be the one to pay for the real estate taxes on his unit
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January 2011
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The inherent rights of the state that restricts property rights are as follows, except
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Expropriation
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Right to foreclosure of real estate mortgage prescribe in
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5 years
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Under RA 8791, the maximum redemption period after extrajudicial foreclosure of a mortgage executed by a corporation in favor of a bank is
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3 months
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On a Pacto de Retro contract of sale which there is no stipulation of the period to which the vendor shall have right to buy or redeem of the property. The period of redemption shall be
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4 years
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Under the Rent Control Act of 2005 regulating the rent of residential units, the maximum increase in rental shall not be increased by more than annually as long as the unit is occupied by the same lessee
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10%
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A provision in a mortgage contract which allows the creditor to immediately appropriate the property mortgaged in the event the borrower is unable to pay his loan is called
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Pactum Commisorium
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The most common type of foreclosure which a ban undertakes when its borrower fails to pay the principal amount of the loan is referred to as
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Extrajudicial foreclosure
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In case of extrajudicial foreclosure of the house and lot by the bank the property shall be sold though
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Public auction sale
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Mr. Bautista borrowed from the bank to buy a condominium residential unit but failed to pay his loan with the bank Mr. Bautista, upon foreclosure of the condominium unit will have a right to redeem the property sold in public auction
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Within 1 year from registration of the sale with register of deeds
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Maximum period that a foreigner may lease real estate under the foreign investors lease Act is
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25 years
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The following is composed of the Board of Assessment Appeals in the City of Makati, except:
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City Engineer
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In case of acquisition of title to real property by prescription in good faith the period required is:
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5 years
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