 |
The boundaries of individual property and communal property shall
be clearly defined before the sale may be carried out according to the
law. |
|
The said boundaries shall be clearly marked on the Strata Title
so that the rights of each owner are secured according to the law. |
|
The Strata Title is legally acceptable as collateral by banks and
financial institutions, thereby underlining the legality of the Strata
Title. |
|
An Owners' Association shall be established as a governing body
ensuring the well-being of the complex as a whole. |
|
Each owner shall give written agreement to abide by the common rules
established by the Owners' Association or governing body. |
|
The Owners' Association shall be recognized as a governing body
legally empowered to act on behalf and for the sole benefit of tenants. |
|
The Articles of Association of the governing body must be legally
recognized by the Governor of the State. |
|
The transfer of the ownership titles is conditional upon the written
acceptance of the Articles of Association set and agreed to by the owners. |
|
The Strata Title shall consist of: 1) the land title, 2) the layout
drawing, 3) division of the right of each individual owner in relation
to common property, and 4) agreement to abide with the Articles of Association. |
|
The Owners Association shall be legally empowered to enforce the
rules and regulations set by common agreement. |
