3/21/2021 REM 182/142 - Quiz 2 Condominium Concept

REM 182/142 - Quiz 2 Condominium

Concept
Total points 50/100

Select the best answer. Finish the Final Exam in 10 minutes and submit.

Email address *

villaverde.richard12@gmail.com

Mr. Sy owned a unit in Tower ABC. He can sell the unit to anybody unless 0/10
there is *

An amount of unpaid real estate taxes

A mortgage on the condominium unit

Provision for right of first refusal

Delinquency in condominium dues

Correct answer

Provision for right of first refusal

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3/21/2021 REM 182/142 - Quiz 2 Condominium Concept

Allison sold his 3 bedroom condo unit to a buyer. To register the sale he 10/10
must get from the condominium corporation this document *

Certificate of transfer

Clearance of condominium dues

Certificate of management

Certificate of ownership

It is referred to as the space encompassed by the interior surface of the 0/10

floor, ceiling, walls and exterior doors and windows, which is susceptible
of independent use and ownership *

Condominium Limited common area

Common Areas

Condominium interior

Condominium Unit

Correct answer

Condominium interior

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3/21/2021 REM 182/142 - Quiz 2 Condominium Concept

A part of the condominium project which are not subject to the 0/10
exclusive use of any one or group of owners *

Common Areas

Limited common areas

General common areas

Divided common areas

Correct answer

General common areas

A unit owner does not have the following right as a condominium unit 10/10
owner *

To sell the condominium unit

To pay for share in insurance of the condo project

To mortgage his own unit

To lease the unit

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3/21/2021 REM 182/142 - Quiz 2 Condominium Concept

If a unit owner has unpaid assessments, the notice of assessment will 10/10
be considered a lien on the condominium unit if *

A notice of assessment is given to the unit owner

A notice of assessment is registered with the Register of Deeds

Registered with the city treasurer’s office

The delinquency is more than 1 year

A condominium corporation is important as it will be the management 0/10

body of the condominium project and more importantly, will also *

Pay for the realty taxes of the unit owner

Hold title to the land of the condominium project

Collect the dues from the unit owners

Pay for the insurance of the separate units

Correct answer

Hold title to the land of the condominium project

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3/21/2021 REM 182/142 - Quiz 2 Condominium Concept

It refers to the weight bearing walls, columns and beams, stairways, 0/10
halls elevators, etc. including the electrical, water and plumbing systems
and amenities in condominium project *

Common Areas

Vertical building

Condominium Structure

Condominium Building

Correct answer

Common Areas

In buying a condominium unit, it is highly recommended that the buyer 10/10

get this most important document to have full knowledge of the
project *

Master Deed

House rules and regulations

Deed of Restrictions

Articles of Incorporation of condominium corporation

Last Name, First Name

Villaverde, Richard

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3/21/2021 REM 182/142 - Quiz 2 Condominium Concept

The ABC Condo Residences, a mixed use condo project, wanted to 10/10
amend the master deed. In such case the majority vote shall be based
on *

Per unit ownership

Per unit value

Per unit no. of occupants

Per unit floor area

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