Title I
TITLE AND DEFINITIONS

Section 1. Title. This Decree shall be known as THE SUBDIVISION AND CONDOMINIUM BUYERS' PROTECTIVE DECREE.

Section 2. Definition of Terms When used in this Decree, the following terms shall, unless the context otherwise indicates, have the following respective meanings:

(a) Person. "Person" shall mean a natural or a
juridical person. A juridical person refers to a business firm whether a
corporation, partnership, cooperative or associations or a single
proprietorship.

(b) Sale or sell. "Sale" or "sell" shall include
every disposition, or attempt to dispose, for a valuable consideration,
of a subdivision lot, including the building and other improvements
thereof, if any, in a subdivision project or a condominium unit in a
condominium project. "Sale" and "sell" shall also include a contract to
sell, a contract of purchase and sale, an exchange, an attempt to sell,
an option of sale or purchase, a solicitation of a sale, or an offer to
sell, directly or by an agent, or by a circular, letter, advertisement
or otherwise.

A privilege given to a member of a cooperative,
corporation, partnership, or any association and/or the issuance of a
certificate or receipt evidencing or giving the right of participation
in, or right to, any land in consideration of payment of the membership
fee or dues, shall be deemed a sale within the meaning of this
definition.

(c) Buy and purchase. The "buy" and "purchase" shall
include any contract to buy, purchase, or otherwise acquire for a
valuable consideration a subdivision lot, including the building and
other improvements, if any, in a subdivision project or a condominium
unit in a condominium project.

(d) Subdivision project. "Subdivision project" shall
mean a tract or a parcel of land registered under Act No. 496 which is
partitioned primarily for residential purposes into individual lots with
or without improvements thereon, and offered to the public for sale, in
cash or in installment terms. It shall include all residential,
commercial, industrial and recreational areas as well as open spaces and
other community and public areas in the project.

(e) Subdivision lot. "Subdivision lot" shall mean any
of the lots, whether residential, commercial, industrial, or
recreational, in a subdivision project.

(f) Complex subdivision plan. "Complex subdivision
plan" shall mean a subdivision plan of a registered land wherein a
street, passageway or open space is delineated on the plan.

(g) Condominium project. "Condominium project" shall
mean the entire parcel of real property divided or to be divided
primarily for residential purposes into condominium units, including all
structures thereon.

(h) Condominium unit. "Condominium unit" shall mean a
part of the condominium project intended for any type of independent
use or ownership, including one or more rooms or spaces located in one
or more floors (or part of parts of floors) in a building or buildings
and such accessories as may be appended thereto.

(i) Owner. "Owner" shall refer to the registered owner of the land subject of a subdivision or a condominium project.

(j) Developer. "Developer" shall mean the person who
develops or improves the subdivision project or condominium project for
and in behalf of the owner thereof.

(k) Dealer. "Dealer" shall mean any person directly
engaged as principal in the business of buying, selling or exchanging
real estate whether on a full-time or part-time basis.

(l) Broker. "Broker" shall mean any person who, for
commission or other compensation, undertakes to sell or negotiate the
sale of a real estate belonging to another.

(m) Salesman. "Salesman" shall refer to the person
regularly employed by a broker to perform, for and in his behalf, any or
all functions of a real estate broker.

(n) Authority. "Authority" shall mean the National Housing Authority.