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P.D. 957: Regulating the Sale of Subdivision Lots and Condominiums, Providing Penalties for Violations Thereof

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PRESIDENTIAL DECREE No. 957 July 12, 1976

REGULATING THE SALE OF SUBDIVISION LOTS AND CONDOMINIUMS, PROVIDING PENALTIES FOR VIOLATIONS THEREOF

WHEREAS, it is the policy of the State to afford its inhabitants the requirements of decent human settlement and to provide them with ample opportunities for improving their quality of life;

WHEREAS, numerous reports reveal that many real estate subdivision owners, developers, operators, and/or sellers have reneged on their representations and obligations to provide and maintain properly subdivision roads, drainage, sewerage, water systems, lighting systems, and other similar basic requirements, thus endangering the health and safety of home and lot buyers;

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National Code of Ethics and Responsibilities for Real Estate Service Practice

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PREAMBLE

The Real Estate Service Practice, an honorable profession, a calling to strive for excellence with the vital role in the social, political, economic development and progress of the country by promoting the real estate industry, stimulating economic activity, shall be developed and nurtured into a corps of technically competent, responsible and respected professionals, whose standards of practice shall be globally competitive. As such, real estate service practitioners are bound by a code of conduct, morals, and values in the performance of their duties and responsibilities to the public, their client, the government, fellow practitioners, and associations.

Therefore, it is essential, imperative and necessary to adopt this NATIONAL CODE OF ETHICS AND RESPONSIBILITIES FOR THE REAL ESTATE SERVICE PRACTITIONERS that will govern their rule of conduct.
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Republic Act 9646: Real Estate Service Act of the Philippines

Republic of the Philippines
Congress of the Philippines
Metro Manila

Fourteenth Congress
Second Regular Session

 

Begun and held in Metro Manila, on Monday, the twenty-eight day of July, two thousand eight.

Republic Act No. 9646             June 29, 2009

AN ACT REGULATING THE PRACTICE OF REAL ESTATE SERVICE IN THE PHILIPPINES, CREATING FOR THE PURPOSE A PROFESSIONAL REGULATORY BOARD OF REAL ESTATE SERVICE, APPROPRIATING FUNDS THEREFOR AND FOR OTHER PURPOSES

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