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;

WHEREAS, reports of alarming magnitude also show
cases of swindling and fraudulent manipulations perpetrated by
unscrupulous subdivision and condominium sellers and operators, such as
failure to deliver titles to the buyers or titles free from liens and
encumbrances, and to pay real estate taxes, and fraudulent sales of the
same subdivision lots to different innocent purchasers for value;

WHEREAS, these acts not only undermine the land and
housing program of the government but also defeat the objectives of the
New Society, particularly the promotion of peace and order and the
enhancement of the economic, social and moral condition of the Filipino
people;

WHEREAS, this state of affairs has rendered it
imperative that the real estate subdivision and condominium businesses
be closely supervised and regulated, and that penalties be imposed on
fraudulent practices and manipulations committed in connection
therewith.

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of
the Philippines, by virtue of the powers vested in me by the
Constitution, do hereby decree and order: