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The short title of this Act shall be The Condominium Act. SECTION 2. A condominium is an interest in real property consisting of a separate interest in a unit in a residential, industrial or commercial building and an undivided interest in common directly or indirectly, in the land which it is located and in other common areas of the building.
- Christian Narito
A condominium is an interest in real property consist- ing of separate interest in a unit in a residential, industrial or commercial building and an undivided interest in common, directly or indirectly, in the land on which it is located and in other common areas of the building.
The document summarizes the key provisions and features of the Condominium Act of the Philippines. It outlines what a condominium is, who can own condominium units and property, rights and restrictions for unit owners, and governance of common areas.
The short title of this Act shall be "The Condominium Act". SEC. 2. A condominium is an interest in real property consisting of a separate interest in a unit in a residential, industrial or commercial building and an undivided interest n common, directly or indirectly, in the land on which it is located and in other common areas of the building.
In the context of RA 4726, the salient features would denote the key aspects or provisions of the Condominium Act that are significant and noteworthy for understanding its regulations on condominium ownership in the Philippines.
Condominium Act1 - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. This document outlines the key provisions of Republic Act No. 4726, which defines condominiums and establishes requirements for their creation and governance under Philippine law.
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What is condominium as defined in the law? What are the basic components of condominium in the Ph.? What is meant by interest in the condominium? What is a unit? What are the other independent portions of the condominium? What are common areas? Can common areas be sold? What is the instrument that is considered the heart of the condominium?
