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PRESIDENTIAL DECREE NO.

957 residential purposes into


Subdivision and Condominium condominium units, including all
buyer's Protective Decree structures thereon.
(as amended by P.D. 1216)
Condominium unit. - a part of the
condominium project intended for
Person. - natural or a juridical any type of independent use or
person. ownership, including one or more
rooms or spaces located in one
Juridical person- refers to a or more floors (or part of parts of
business firm whether a corporation, floors) in a building or buildings
partnership, cooperative or and such accessories as may be
associations or a single appended thereto.
proprietorship.
Owner. - registered owner of the
Sale or sell. - include every land
disposition, or subject of a subdivision or a
attempt to dispose, for a valuable condominium project.
consideration, of a subdivision
lot, including the building and other Developer. - mean the person who
improvements thereof, if any, develops or
in a subdivision project or a improves the subdivision project or
condominium unit in a condominium condominium project for and
project. in behalf of the owner thereof.

Buy and purchase. - include any Dealer. - any person directly


contract to buy, purchase, or engaged as
otherwise acquire for a valuable principal in the business of buying,
consideration a subdivision lot, selling or exchanging real
including the building and other estate whether on a full-time or part-
Improvements. time basis.

Subdivision project. - a tract or a Broker. - any person who, for


parcel of land registered under Act commission or
No. 496 which is partitioned other compensation, undertakes to
primarily for residential purposes into sell or negotiate the sale of a
individual lots with or real estate belonging to another.
without improvements thereon, and
offered to the public for sale, Salesman. - person regularly
in cash or in installment terms. employed by a broker to perform, for
and in his behalf, any or all
Complex subdivision plan. - functions of a real estate broker.
mean a subdivision plan of a
registered land wherein a street, National Housing Authority- have
passageway or open space is exclusive jurisdiction to regulate the
delineated on the plan. real estate trade and business in
accordance with the provisions of
Condominium project. - the this Decree.
entire parcel of real property divided
or to be divided primarily for

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