Condominium buyers raising
concerns on their rights to
purchased units.
People of working class, OFW
buying condominiums/ house and
lots in subdivision projects through
installment but being unable to
make payments on due time.
“The Condominium Act”, also known as the Republic
Act No. 4726 (RA 4726) is an act “to define
condominium, establish requirements for its creation,
and govern its incidents”. Enacted on June 18, 1966, this
act allows people the right to co-own lands, aside from
their absolute ownership of their unit. This act further
explains the extent of their influence when it comes to
the unit that they purchased. The rights of the buyers
are well-explained to ensure that developers or sellers
do not abuse or mislead them when it comes to their
units.
Republic Act No. 6552, also known as the “Realty
Installment Buyer Protection Act” and more commonly
known as the “Maceda Law” (August 26, 1972) is an act
to protect real estate buyers with regards to installment
payments. Since installment payments and real estate
transactions need to have a clear set up between the
buyer and developer, the law clearly states the time
frame when the installment payments should be made.
The law also states that the seller can cancel contract if
the buyer is not able to settle the installment payments
once the grace period expires after the buyer receives
the notice of cancellation
 Numerous complaints about
sellers over-promising something
to clients but under-
deliver/deceive clients by
fraudulent presentation or by
simply feeding clients with
false/incomplete/incomprehensive
information.
PD 957 (Subdivision and Condominium Buyer’s
Protective Decree) (July 12, 1976)
Protection of buyers of condominium projects and
subdivision developments against misinterpretations
and fraudulent activities of developers, sellers and
operators.
Presidential Decree No. 464 (June 1, 1974) was enacted
to implement a real estate tax code.
This law gives a clear rundown of how real properties
should be assessed and appraised for tax purposes. It
should only be appraised at the current and fair market
value, it should be uniform in each location, and the
property will be assessed based on its use. No private
person can assess, appraise or collect real property
taxes. The assessment aims to have proper distribution
of the tax burden of real estate properties.