Question & AnswerQ&A (Republic Act No. 4726)
The short title is "The Condominium Act."
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 areas, including the land on which it is located.
Title to the common areas, including the land or appurtenant interests, may be held by a condominium corporation specially formed for the purpose, with unit holders being members or shareholders proportional to their interests.
An enabling or master deed containing, among other things, descriptions of the land, buildings, common areas, statements of interest, consent certificates, and appended plans must be recorded in the Register of Deeds and annotated in the title.
No condominium unit can be transferred to persons other than Filipino citizens, or corporations with at least 60% capital stock owned by Filipinos, except in cases of hereditary succession.
The interior surfaces of perimeter walls, floors, ceilings, windows, and doors are the boundaries of the unit. Common structural elements, common areas, and utilities are excluded.
Common areas shall remain undivided and are not subject to judicial partition except under certain conditions such as damage, condemnation, or expiry of the condominium project as specified in Section 8.
A declaration of restrictions must be registered, providing for management by a condominium corporation, association, board of governors, or management agent with rules on voting, meetings, assessments, and enforcement powers.
The term of a condominium corporation is co-terminous with the duration of the condominium project.
Assessments recorded as liens by the management body become liens on the condominium unit and are superior to all other liens registered afterward except real property tax liens, unless otherwise provided in the declaration of restrictions.