Condo Concepts / Documentation & Registration

10 Questions | By Zaldyt | Updated: Mar 21, 2022 | Attempts: 588

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QUESTIONNAIRE ABOUT CONDOMINIUM CONCEPTS, DOCUMENTATION & REGISTRATION

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1.

PRINCIPAL PURPOSE OF THE CONDOMINIUM CORPORATION:
- A.
  
  TO HOLD TITLE TO THE LAND
- B.
  
  TO ACT AS MANAGEMENT BODY OF THE CONDOMINIUM PROJECT
- C.
  
  TO ENSURE THAT THE ARTICLES AND BY-LAWS OF THE CONDOMINIUM CORPORATION SHALL NOT CONFLICT WITH THE MASTER DEED
- D.
  
  ALL OF THE ABOVE
2.

THE INTEREST BASED ON THE FLOOR AREA OF OWNERSHIP IS ARRIVED AT BY:
- A.
  
  MULTIPLYING THE UNIT AREA BY THE TOTAL AREA OF ALL THE CONDOMINIUM UNITS
- B.
  
  DIVIDING THE UNIT AREA BY THE TOTAL AREA OF ALL THE CONDOMINIUM UNITS
- C.
  
  SUBTRACTING THE UNIT AREA BY THE TOTAL AREA OF ALL THE CONDOMINIUM UNITS
- D.
  
  NONE OF THE ABOVE
3.

BUILDING PLANS ARE SUBMITTED TO ASSESSOR'S OFFICE TO OBTAIN:
- A.
  
  TAX DECLARATION
- B.
  
  TITLE
- C.
  
  SURVEY MAP
- D.
  
  TAX CLEARANCE
4.

AMENDMENT OR REVOCATION OF MASTER DEED ALREADY DECIDED BY A MAJORITY OF ALL REGISTERED OWNERS SHALL BE SUBMITTED TO ________________ FOR APPROVAL BEFORE IT CAN BE REGISTERED:
- A.
  
  HLURB
- B.
  
  HLURB AND CITY/MUNICIPAL ENGINEER
- C.
  
  CITY/MUNICIPAL ENGINEER
- D.
  
  REGISTRY OF DEEDS
5.

CONDOMINIUM UNIT OWNER HAS NO RIGHT TO SELL, LEASE OR MORTGAGE HIS/HER UNIT
- A.
  
  TRUE
- B.
  
  FALSE
- C.
  
  CASE TO CASE
- D.
  
  NONE OF THE ABOVE
6.

IS A SPACE ENCOMPASSED BY THE INTERIOR SURFACE OF THE FLOOR, CALLING WALLS AND EXTERIOR DOORS AND WINDOWS WHICH IS SUSCEPTIBLE OF INDEPENDENT USE AND OWNERSHIP:
- A.
  
  PARKING AREA
- B.
  
  COMMON AREA
- C.
  
  HALLWAY
- D.
  
  CONDOMINIUM UNIT
7.

REFER TO THE WEIGHT BEARING STRUCTURE, SERVICE AREAS, UTILITIES, FACILITIES, AND AMENITIES:
- A.
  
  PARKING AREA
- B.
  
  COMMON AREA
- C.
  
  HALLWAY
- D.
  
  CONDOMINIUM UNIT
8.

PERCENTAGE OF OWNERSHIP OF ALIEN LEGALLY ALLOWED IN THE CONDOMINIUM CONCEPT:
- A.
  
  40%
- B.
  
  45%
- C.
  
  30%
- D.
  
  20%
9.

ADVANTAGES OF THE CONDOMINIUM CONCEPT:
- A.
  
  MULTIPLIES SALEABLE OR RENTABLE FLOOR AREAS BY AS MANY STOREYS BUILT
- B.
  
  FACILITIES, UTILITIES, AMENITIES AND SERVICES WILL COST LESS TO BUILD AND MAINTAIN
- C.
  
  ECONOMY IN LAND SPACE
- D.
  
  ALL OF THE ABOVE
10.

THE MASTER DEED IS REGISTERED WITH:
- A.
  
  ASSESSOR'S OFFICE
- B.
  
  BIR
- C.
  
  REGISTRY OF DEEDS
- D.
  
  HLURB