WHEN A PERSON AUTOMATICALLY CEASES AS A STOCKHOLDER IN A CONDOMINIUM CORPORATION
Category: Land Titles And Deeds
WHEN A PERSON AUTOMATICALLY CEASES AS A STOCKHOLDER IN A CONDOMINIUM CORPORATION
> Section 10—membership in a condominium corporation regardless of whether it is stock or non-stock corporation, shall not be transferable separately from the condominium unit of which it is an appurtenance. When a member or a stockholder ceases to own a unit in the project in which the condominium corporation owns or holds the common area, he shall automatically cease to be a member or stockholder of the condominium corporation.
Newer Philippine Law Resources:
- MORTGAGE OF CONDOMINIUM WITHOUT KNOWLEDGE OF BUYER IS AN UNSOUND BUSINESS PRACTICE -
- REGISTRATION OF SALE OF SUBDIVISION LOTS AND CONDOMINIUM UNITS -
- The period within which to appeal the decision of the Board of Commissioners of the HLURB -
- TRANSFER OF OWNERSHIP OR CHANGE OF NAME OF A SUBDIVISION OR CONDOMINIUM -
- JURISDICTION OF THE NATIONAL HOUSING AUTHORITY, Housing and Land Use Regulatory Board -
Additional Law Reading:
- THE OWNER OF A UNIT IS CONSIDERED A SHAREHOLDER IN THE CONDOMINIUM CORPORATION -
- Petitions Involving Certificate Of Title -
- DUTY OF REGISTER OF DEEDS TO REGISTER DOCUMENT PRESENTED FOR REGISTRATION IS MINISTERIAL -
- REGISTRATION OF INSTRUMENTS DEALING WITH UNREGISTERED LAND -
- Land Registration Circular No. 35 -