In the Philippines, 50 years is the lifespan of all companies and corporations, big or small. However, the corporation can still be renewed for another 50 years, so your inium ownership does not necessarily end at that point. Fact #3: Three factors need to be fulfilled to declare a inium uninhabitable.
Inium Law The inium Act of the Philippines allows Filipino citizens and businesses to buy iniums. Foreigners, on the other hand, are limited to owning no more than 40% of a corporation's entire and outstanding capital stock, which must be Filipino-owned and controlled.
Condo Ownership When you buy a condo, you own the interior of the unit. Unlike an apartment, where you need the landlord's permission to make changes, you can do whatever you like to the interior of your unit. You're also responsible for interior repairs and maintenance.
Owning a Condo Is Just Like Owning a House So while you have the right to make changes to your unit, you won't have quite as much freedom as you would with a house. You may not have the option of making changes to the plumbing or electrical by yourself, as most condo rules require the use of a qualified professional.
Often depends on the condo board, but my board for example requires that anyone doing renovations needs to have WSIB and commercial insurance. We also need to submit a proposal to the condo corp with the full details about what exactly is being renovated, and provide a sample of the new materials proposed to be used.
Section 67 of the inium Property Act provides for broad court-ordered remedies in cases of “improper conduct” by, among others, inium corporations. When a court is satisfied that improper conduct has taken place, it may do a number of things to cause that improper conduct to cease.
Community association pools are often considered 'public pools' subject to regulation by Chapter 514, Florida Statutes. Pools operated by private inium and cooperative associations with less than 32 units are generally exempt from certain regulations, but still have to comply with water quality standards.
You cannot build a fence on your neighbor's property without their permission. Your neighbor can object to any part of your fence, even if it only encroaches onto a few inches of their property. What they can do about it may depend on local laws.
Fencing is an essential feature in condo communities, whether you're looking to boost security, create more privacy, or improve the property's overall look. In condo developments, especially in detached homes or townhouse complexes, fencing choices often reflect both community guidelines and individual preferences.
Maintaining Distance from the Property Line This helps prevent disputes and allows for maintenance on both sides of the fence without encroaching on the neighbor's land. A common practice is to build the fence 2-8 inches away from the property line, depending on local regulations and personal preferences.