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PD 957

Presidential Decree 957 governs subdivisions, condos, and other real estate projects in the Philippines by specifying guidelines for developers and requiring homeowners associations to protect buyers' rights and ensure project sustainability.

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16 views1 page

PD 957

Presidential Decree 957 governs subdivisions, condos, and other real estate projects in the Philippines by specifying guidelines for developers and requiring homeowners associations to protect buyers' rights and ensure project sustainability.

Uploaded by

cabornida.ccicasc
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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PD 957

In the Philippines, subdivisions, condos, and other comparable real estate projects are governed under
Presidential Decree 957. The former president Ferdinand Marcos enacted it on July 12, 1976, in order to
safeguard real estate buyers' rights and interests and advance ethical development methods.

The decree specifies a number of guidelines and procedures for developers, including obtaining licenses
and permissions, presenting thorough designs and specifications, and abiding by particular building
codes. In order to safeguard the welfare of the residents, it also requires the formation of homeowners
associations for each subdivision or condominium project.

Protecting property buyers' rights, stopping fraud, ensuring the availability of essential services, and
preserving the overall integrity and sustainability of real estate developments are the main goals of
Presidential Decree 957. It gives the Housing and Land Use Regulatory Board (HLURB) the power to carry
out the decree's requirements, enforce penalties for disobedience, and aid purchasers in settling
problems.

Overall, Presidential Decree 957 aims to regulate the real estate industry in the Philippines, promote
transparency and accountability among developers, and protect the interests of property buyers.

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