Ayala Land condo towers in Manila are in the middle of all the action, with units thoughtfully designed so you relax amidst all the hustle and bustle of the thriving city. That the conditions for such a dissolution set forth in the declaration of restrictions of the project in which the corporation owns or holds the common areas, have been met. “Project” means the entire parcel of real property divided or to be divided in condominiums, including all structures thereon. Condominiumis a Latin word formed by adding the prefix con- (“together”) to the word dominium (“domain, ownership, property”).
- Regular property inspections help identify potential issues before they become serious problems.
- A condominium corporation shall not, during its existence, sell, exchange, lease or otherwise dispose of the common areas owned or held by it in the condominium project unless authorized by the affirmative vote of all the stockholders or members.
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- In general, the owner usually owns the interior of their condo and the structural components of exterior walls.
Included in these is the filing in the land records office of what is known as a declaration of condominium, which submits the property to the condominium form of ownership. A condo, or condominium, is one unit that is part of a larger building or community of other condos. Common spaces — enentrances, lobbies, hallways, rooftop decks and other shared areas — are the property of the condo association.
Property for sale in Philippines
Segregated into five zones, there will be zones for live, work, play, business and education, boasting only the best in