nuggets

• Pactum De Non Aliendo


  A void stipulation with no legal effect which prohibits the mortgagor from alienating the property within the period of the mortgage
• Real Estate Salesperson


  A duly accredited natural person who performs service for and in behalf of a real estate broker, works under the supervision of the broker or acts in behalf of his/her employer
• Flat terrain


  Refers to square planning
• Ethics


  The branch of moral science, idealism, justness and fairness which treats of the duties that a member of a profession or craft owes to the public, to the governments, to his clients or patron, and to his professional brethren or members
• Ancestral Land (AL)


  Land occupied, possessed and utilized by individuals, families and clans who are members of the ICCS/IPS since time immemorial by themselves or through their predecessors-in-interest
• Regional Technical Directors for Lands


  Authorized to certify survey plan and technical descriptions for titling
• Fake title


  The best recourse to check is by Tracing-back in the office of the Register of Deeds
• Deed of Conditional Sale


  The document the lawyers have to prepare when there are conditions set on the sale which should be fulfilled by the parties involved before the owner can pass the ownership of the property to the buyer
• Duplicate certificate of title is lost

  The registered owner shall file a petition in court for judicial reconstitution
• Land Registration Case No.

  Given by the Clerk of Court upon acceptance of the application for land registration
• Development permit


  Valid for a period of 3 years from date of issuance if no physical development is introduced
• Change of use of agricultural land


  Permit is proper only upon issuance of a clearance from the DAR
• Minimum clear width of door for main door of socialized housing

  0.80 meters
• Single detached


  A dwelling for one family which is completely surrounded by permanent open spaces, with independent access, services, and use of land
• Developer denying access


  No developer shall deny any person free access to any Government office or public establishment located within the subdivision or which may be reached only by passing through the subdivision
• Legal description


  An exact way of describing the exact location of real estate that will be accepted in court, used in many documents such as deeds, mortgages, liens and sales contract
• Zoning


  Areas of a city or municipality can be divided into sectors for a particular use, such as residential, commercial, industrial, etc, and a matter of public record
• Open market and medium cost subdivision projects

  Maximum 70% of the gross area
• Monthly amortization


  In Real Estate Finance, a percentage of the loan value. The percentage rate applied on the loan value is the Monthly Amortization Factor
• Condominium ownership


  Becomes expensive when Monthly dues are higher than rental rates
• Condominium living


  Became popular because of High density of urban living
• Quality offices


  Prospective tenants look for Prestige and quality of building
• RA 9485 or Anti-Red Tape Act (ARTA)


  The citizen charter and law protects the Real Estate Broker from having so much trouble in documentation request and Real Estate brokers who are tasked in working for the documentation of subdivisions, condominium and undertaking liaison work with the Registry of Deeds (RD) and Agencies who find difficulties because of "red tape"
• External Debt


  All types of borrowings by Philippine residents from non-residents that are approved by a registered BSP
• Owners Policy


  The title insurance for the benefit of the homeowner
• Refinancing


  To obtain a new mortgage to replace an existing one
• All assumptions underlying a valuation should be reasonable
• All valuation are dependent to some degree on the adoption of assumptions
• It is must property identified the problem and certain he/she has the experience and knowledge to carry put the valuation for a competent valuer do in accepting an assignment or entering into an agreement to perform any appraisal engagement
• Basis of value


  A statement of the Fundamental measurement Assumptions of a Valuation
• Synergetic Value


  Additional element of value created by the combination of two or more interest where the value of the combined interest is worth more than the sum of the original interest
• Climate Change


  A change that can be identified by changes in the mean and/or variability of its properties and that persists for an extended period typically decades or longer, whether due to natural variability or as a result of human activity
• Economic base


  The level business activity in a community
• Money market


  Short term financing instruments are part of
• Filtering down


  The fact that housing tends to pass to lower groups
• Adaptation


  The adjustment in natural or human systems in response to actual or expected climactic stimuli of their effects, which moderates harm or exploits beneficial opportunities
• Deed of declaration of Restriction

  The set of rules, procedures, policies and limitations as to the management and usage of units and common areas in a condominium project which constitutes a lien upon the project and each unit and building upon all unit owners, occupants, and other holding any right or interest in the project, pursuant to the provisions of the condominium act and other related laws
• Bearing


  Always an angle less than 90 degrees measured from north or south (meridian) whichever is nearest
• Azimuth


  An angle measured Clockwise relative to some reference point on a circle (North or South)
• Code of Ethics


  The Real Estate Service Practitioners' pathway to Professionalism