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Condominium Articles Of Incorporation

Condominium Articles Of Incorporation Template for Philippines

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Key Requirements PROMPT example:

Condominium Articles Of Incorporation

"I need Condominium Articles of Incorporation for a 50-unit luxury development in Makati City, Philippines, launching in March 2025, which will allow for foreign ownership up to the legal maximum and include provisions for high-end amenities management."

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Document background
Condominium Articles of Incorporation are required when establishing a condominium project in the Philippines, serving as the fundamental document that creates the legal entity responsible for managing the condominium property. This document must be filed with the Securities and Exchange Commission and comply with the requirements of both the Revised Corporation Code and the Condominium Act (RA 4726). It outlines the corporate structure, defines ownership rights and responsibilities, establishes governance mechanisms, and specifies common area management. The document is particularly crucial as it forms the basis for all subsequent condominium operations and management decisions, requiring careful consideration of both corporate and property law aspects. Used during the initial establishment of a condominium project, it contains essential information about capital structure, board composition, voting rights, and property specifications, all within the context of Philippine legal requirements.
Suggested Sections

1. Article I - Corporate Name: States the complete corporate name of the condominium corporation, which must include the words 'Condominium Corporation'

2. Article II - Principal Office: Specifies the complete address of the corporation's principal office, which must be located in the Philippines

3. Article III - Corporate Purpose: Details the primary and secondary purposes of the condominium corporation, including management and administration of the condominium project

4. Article IV - Corporate Term: Specifies the duration of corporate existence, which may be perpetual under the Revised Corporation Code

5. Article V - Capital Structure: Details the authorized capital stock, par value, and number of shares

6. Article VI - Names and Addresses of Incorporators: Lists the names, nationalities, and residential addresses of all incorporators, who must be at least 5 natural persons of legal age

7. Article VII - Board of Directors/Trustees: Specifies the number, qualifications, terms, and election process of board members

8. Article VIII - Officers: Identifies corporate officers, their roles, responsibilities, and selection process

9. Article IX - Unit Owners' Rights and Obligations: Defines the basic rights and obligations of unit owners as shareholders

10. Article X - Common Areas: Defines and describes the common areas and facilities of the condominium project

11. Article XI - Amendment Provisions: Specifies the process for amending the Articles of Incorporation

Optional Sections

1. Article on Foreign Ownership Limitations: Required when the condominium project allows foreign ownership, specifying the 40% foreign ownership limitation as per Philippine law

2. Article on Special Projects: Needed when the corporation plans to undertake special projects or additional developments

3. Article on Subsidiary Corporations: Required when the corporation plans to form subsidiary corporations for additional services or facilities

4. Article on Environmental Compliance: Needed for projects in environmentally sensitive areas or with specific environmental commitments

5. Article on Special Voting Rights: Required when implementing different voting rights for different classes of shares or unit types

Suggested Schedules

1. Schedule A - Property Description: Detailed technical description of the condominium property, including lot numbers and boundaries

2. Schedule B - Unit Inventory: Complete list of all units with their respective floor areas and participation quotas

3. Schedule C - Common Areas Specification: Detailed description and allocation of common areas and facilities

4. Schedule D - Initial Subscribers: List of initial subscribers with their corresponding number of subscribed shares

5. Appendix 1 - Master Deed: Copy of the Master Deed of the condominium project

6. Appendix 2 - Technical Plans: Approved architectural and engineering plans of the condominium project

7. Appendix 3 - Government Permits: Copies of all relevant government permits and licenses

8. Appendix 4 - Initial Capital Structure: Detailed breakdown of the initial capitalization and share distribution

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Property Development

Construction

Property Management

Corporate Services

Legal Services

Property Investment

Urban Development

Residential Housing

Relevant Teams

Legal

Real Estate Development

Corporate Governance

Compliance

Property Management

Project Development

Corporate Affairs

Investment

Operations

Administrative Services

Relevant Roles

Real Estate Developer

Corporate Lawyer

Property Manager

Real Estate Attorney

Corporate Secretary

Compliance Officer

Real Estate Investment Manager

Property Development Director

Legal Counsel

Corporate Governance Officer

Real Estate Operations Manager

Development Project Manager

Property Services Director

Industries
Republic Act No. 4726 (Condominium Act): The primary law governing condominium ownership and development in the Philippines, defining rights and obligations of unit owners, common areas, and management structure
Republic Act No. 11232 (Revised Corporation Code of the Philippines): Provides the legal framework for incorporating and operating corporations in the Philippines, including requirements for Articles of Incorporation
HLURB/DHSUD Guidelines: Specific guidelines from the Department of Human Settlements and Urban Development (formerly HLURB) regarding condominium project requirements and documentation
Presidential Decree No. 1529 (Property Registration Decree): Governs the registration of real estate properties, including condominium units and common areas
Republic Act No. 9160 (Anti-Money Laundering Act): Relevant for corporate formation and property transactions, requiring due diligence and reporting of certain transactions
Local Government Code (RA 7160): Pertains to local government requirements and permits needed for condominium projects and corporate registration
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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