LESSON 2 PART 3

Question 1

OBLIGATIONS OF THE VENDOR (Developer/Owner)

Answer 1

a. Construction & Development
b. License to Sell
c. Registration of Contracts
d. Delivery of Title
e. Real Estate Taxes

Question 2

Must complete promised facilities, infrastructure, and improvements within one year of the project’s license issuance or within an approved period.

Answer 2

Construction & Development

Question 3

Must secure a license to sell from DHSUD within two weeks of project registration.

Answer 3

License to Sell

Question 4

All contracts to sell and deeds of sale must be registered with the Register of Deeds to ensure buyer protection and smooth ownership transfer.

Answer 4

Registration of Contracts

Question 5

The title must be transferred to the buyer upon full payment, with no extra fees except for registration costs.

Answer 5

Delivery of Title

Question 6

The developer pays all real estate taxes until the title is transferred. If the buyer occupies the property before transfer, they become responsible for taxes starting the following year.

Answer 6

Real Estate Taxes

Question 7

REMEDIES FOR BUYERS

Answer 7

Section 23 - Non-Forfeiture of Payment
Section 24 - Failure to Pay Installment
Section 33 - Nullity of Waivers

Question 8

No installment payment made by a buyer in subdivision or condominium project for the lot or unit he contracted to buy shall be forfeited in favour of the owner or developer when the buyer, after due notice of the owner or developer, desists from further payment due to the failure of the owner or developer to develop the subdivision or condominium project according to the approved plans and within the time limit for complying with the same.

Answer 8

Section 23 - Non-Forfeiture of Payment

Question 9

The rights of the buyer in the event of this failure to pay the installment due for reasons other than the failure of the owner or developer to develop the project shall be governed by RA No. 6552 (Maceda Law).

Answer 9

Section 24 - Failure to Pay Installment

Question 10

Any condition, stipulation, or provision in contract of sale whereby any person waives compliance with any provision of this decree or of any rule or regulation
issued thereunder shall be void.

Answer 10

Section 33 - Nullity of Waivers