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    Aaron James Puaso
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    RA-9646

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    9 views11 pages

    Ra 9646

    Uploaded by

    Aaron James Puaso

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 11
    Fe ‘Regul othe Bllppinns Congress of the Philipsines Sires ls Moueterte Congress Secovid Regular Sesion Begun and heli Moto Manta, on Mandey. he twenty-hth day ‘of ly, two those oa [RenmucAcrNo. 96461 AN ACT REGULATING THE PRACTICE OF REAL ESTATE SERVICE IN ‘THE PHILIPPINES, CREATING FOR THE PURPOSE A PROPESSIONAL REGULATORY BOARD OF REAL ESTATE SERVICE. APPROPRIATING FUNDS THEREFOR AND FOR Orn PURPOSES Be it enacted by the Senate and House of Representatives of the Pilipinas tn Congress ansembled ARTICLE I ‘Tut, Decuaeanion oF PoLicy Axo Dretwtrion oe SECTION 1. Til ~ ‘Thin Act shall te known ae the "Real Betate Service Act of the Philipps ‘sc, 2, Deloroton of Poi ~The Stat recogais the vig rl eal gis fer pr oc, Tish ecmomie developent Peat bi ral site vie, stimustng eomomieactsy ras cing government snme fom Toe property Dead ksi ifs sal dev and tre hoa ra fcc negation and supervision 8 cps Bema competent, resonaile and reaeued professoaal tea ere peoirs whaoe standards of practise snd rea st te qbaly compedtive and wll promote the wth of he real ete inde. ‘nc. 5, Definition of Terms. ~ Ae used in thie Act, the following tems shall me (a) “Appraise” luo Inown ae value, refers ton peron wo ade valuston/apprsaal specifiy. one whe puidesere tie neesety ualifetons,ueene, silty end Dreiace to cece odie the Yountionpraisel ral peer (by "Ascnsor” refer tam ofl inthe Seal government cat, Sho yerorse appro sal ammernent cf eel proper, eladlag Plant equipment, sod machineries, essentially or necrins Rigpocer ‘Phe definition aso includes aseatant () “Row estate” refers to the land an all hoe ene vehicle tnced so ne ind, fe tho pial table TY hpetter ital the ons or emprovements on, Sieve or tow the aru (2) “Real estate development project” means the evelyn of ad ett oral nda lturl ietitutional or recreational purpost, or at Sabinaton of such aneloding, but not Wmuted 1, tort feeotte reclamation projects, bulding or howsing project ‘ether for individual or condominrun ownership, sescrni osks sal there of salar nabure. (“Real ena developer” refre to any natal juritSh poten engeged tte basnece of developing £8) Ite detent prow for itor ov Ho ona scsun oad ston the fo ale owe. 3 (P"Real property includes ll the righty, interests and ‘benefit rolted to the cmnersp of tal tate (2) “Ral eat ev peste sol reer 0 ‘consist of the following: " Nee eat 0) Real estate consent — a daly vgintced aa cert arr pene win fr profane, compeneaton ot Sher valuable consideration. efer or reds pression Snvice and judgment on) the acyl, eaoneement, ‘ean sano moti of nd poet Setpmont of el ets oj MATashment end 2 Rea setae appeain— uly oiered and Teese url per he pitas moot or ther valine eonseration, performs or rendco, o offre to, Dever serves tae and hing a oan of stich st fia onde by Ch prepracon of the rope Ir acteptable weten frm (@) Rea ete anzersor~ a daly rigitood aed sensed ratusal person tho works na lal goverment unt and Defers appa and eabeuten of el properties, uding Panta, equipment, and machieriss, nse fr taation 4 Realestate roker~ duly renter and nono satura per has rs proceso ease oot “Valuable consideration, ace aan agentes party in's eal ‘state Gansaction to flr, advertise, sole Ist. promote Sedna fi thn sing ws, aon th Rhein Senseo oa eats ov 20) eer (6) Rent extataaalsporson — a duly acredited natural gor npr sre and hal lett oqustry ar fea Sate Serr fot pecan cfs hore in ths commission, profeesionl fe, compensetin brother valubieconaderatis ARTICLE It Proresstowst, RaGuLAzoRY Boano (OF Heal EStATe SEEvice ‘ke, 4, Creation and Compesion ofthe Board. "There ig heroty created 2 Profccoual Regulatory Boas af Heal [Ente Service ercintarrelered to a8 the ord, une the fupetvsion and administrative coat af the Phofeetonel Regulation Commission (PRC), horenaterefered to 02 the Commission, composed of ehiepnson al far) werkens ‘iho thal be appointed hy the Beesudene of the Pagpings {om the three (3) tcommendors chose by the Comanoson ium st f tve (9) nomiaoee per ponton sulted by the tered and iopratad prfemnal gaan tea ete yen practioner Provided, That two ofthe members tithe Board shall represent the goveracent antes atl ‘The fst Board shall be onganiod within si (months fom the flciiy of chi Ac ‘Spc 8, Povers and Puntion® ofthe Board. — The Board Ireby vested the flowing powers sad fancone (a) Provide comprehensive policy guidelines for the promotion and development of the ral eats induct, (® Conduct oosure examination th practice ofthe ral esate service profession and presibe te approprie ‘lla of he subetts br seominebon (© suo, suspend, revoke or rintat, afer de notice sand hoariog, cettifeaton of registration ot peolceenal Hlnuicatin cards for the practice uf teal cats tess (2, Mainain« comprehensive a wpdted reir of ena real ents sevice reese: i ©) Monitor the conditions affeting the practic of rest state service and adopt such pessuras a mop be proper ee the enhancement of the profesion andor te tantenaace of high profesional, thie snd fecasieal scr, 5 (© Adopts national Code of Bhi and Remponsbiiti to be sively taerved by all Heeneed teal cata service (@) Hear ov investigate any violation of this Act te ‘mplementing ruse and feguaton, aid the Code of Bthice fn Responahites for ral estas ternce racine ed {siue subpoena and subpoena duces teeum to oorare the ‘Sppearance of wtnetses end the predostion of document it ‘Shanection teeth (iy Safguard and protect Igtimate and iensed een) te service practitioners apd un coadinaton with he ‘tried an itegrted ptensnnl oration of el extn fervice practioner, mentor all forms of edvertcments Stnowpermont,sgnbaseds, blmarda, parpllets, brochures se dc fy cm ing al te awe esesay, eerie is qua judcel and sdmintatve powers to foaly ‘and eompetlysradiente te peuiciaus pracbess of ‘authorized unbsnaed indivi (® Presesib, ip eaaperaion with the Commission on Highte Education (CHED) onthe caeerand ate untooely te ellegs, the ential vequuemente ae tothe uectle and felis of school, clges or reise sek pert {0 open academic ours ow aleeady offering such eoureen in ‘eal ate service ahd lo ee to if that nse roqreronte ‘cluding the eaployment of quad fcalty members, a proper complied wih (@) Promulgate, administer and enforce rules and ‘egulations necessary in carving ut the provisions f this As 0, Swperie and puss the segitrton, lense and practice of fea! exate nie in the Palppiaee (D Aveoes and fx the rate of tetsnablerogulatory fee; (2) Adinistoroathe and affiretions; (©) Adopt en otfisal sel of the Hoa (©) Braluate periodically the statu of rel eetate service education and profession, and recnuaend andlor adopt ‘measures to upgrade and wants it high standard, 1) Presrite guidelines and enteiafr the Continaing Proton Educa (CPE rom a eal eat sree Dracuoners in conetation wilh the ascreied sl lng ‘rafessenal rganaation of eal estate serie prctiticnrs (Seren, gue and monitor permite t organizations of realestate pofosinale tn the cnet of seinars and fecpit such anminars Pursuant t the CPE program, ay wel {2°the intrusions or fetaters then for the purpese of ‘Uperading the quality and kowladoy of the profes (©) Monivr an ouporrive the acti ofthe sce san integrated profesional enganizaton and oth sain tf rel esate srvicn practioner and (o)_Dischargo exch other powers duis al functions au the Comat say Geom nceasary to cary ut the ‘The pois resins and rules and meglio eed oe promtleted by the Boned shall be sujet to the reves find approval by che. Commission. However, the Bonr’s ‘lecstns,reoltions or orders wit arena inteloewory, fenvored in an administrative case, shall be subject to eve the Commission only on appedi St, 6, Qulifeions ofthe Chairperson and Mentbers sng Bang = Tae charpeson andthe members. the Board hall, a the taxe oftheir appintznentpostes the flowing qualiestons (A cticen and resident of the Philippines () A her ofa bacelrs doce related to el esate; (© Am active licensed practioner of real eta srvice for ableton GO) sears prt t Lather appeintaent (® A tona fide member in good standing of the scored ant trated proeinalcpynierton af teal eis servi pectitioners but not an aller of trusts atthe time fisher eppemtnent (©) Noitae be a member ofthe faulty ofan institute, heal ellgs er nnsriy, nor have any pectiary interest

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