Master Deed
The Master Deed (or Master Deed with Declaration of Restrictions) is the foundational legal document of a condominium project. It defines the units, common areas, ownership percentages, and restrictions. Registered with DHSUD.
📄 Overview
A Master Deed (also called the Master Deed with Declaration of Restrictions) is the foundational legal document of a condominium project in the Philippines. It is the document that creates the condominium regime by describing the property, dividing it into individual units and common areas, establishing the condominium corporation, and setting the rules that govern the project. Every condominium buyer should review the Master Deed thoroughly before purchasing.
📄 Key Contents
A Master Deed includes: (1) Description of the land and building(s), including technical specifications and floor plans. (2) Definition and boundaries of individual units vs. common areas. (3) The condominium corporation's articles of incorporation and by-laws. (4) Declaration of restrictions (rules on unit use, renovations, pets, noise, etc.). (5) Allocation of condominium interest (voting shares and expense obligations). (6) Provisions for common area management and maintenance. (7) Insurance requirements. (8) Rules for amendments and modifications. (9) Provisions for dissolution or termination of the condominium.
📄 Why It Matters
The Master Deed is binding on all unit owners and the condominium corporation. It determines what you can and cannot do with your unit (e.g., can you combine units? can you operate a business? can you rent via Airbnb?). It defines your financial obligations (dues, special assessments). It governs dispute resolution and the amendment process. Changes to the Master Deed typically require 2/3 to 3/4 majority votes of unit owners, making it relatively stable but not immutable.
🇵🇭 Philippine Context
The Master Deed is required under the Condominium Act (RA 4726) and must be registered with the Register of Deeds. It is filed with the SEC as part of the condominium corporation registration. DHSUD requires the Master Deed to be part of the project's approved documents before a license to sell is issued. The Master Deed can be amended, but amendments must comply with the procedures outlined in the deed itself and the Condominium Act. Buyers receive a copy as part of the purchase documents.
🔗 Related Topics
Condominium Corporation, Condominium Dues, Condominium Act, Declaration of Restrictions, Property Purchase