Which provision of the Condominium Act (RA 4796) is correct?
1) A condominium corporation shall not, during its existence, sell, exchange, and lease or otherwise dispose of the common areas owned by or held by in the condominium project unless authorized by the affirmative vote of all the stockholders or members.
2) Whenever real property has been divided into condominiums, each condominium separately owned shall be separately assessed, for purposes of real property taxation and other tax purposes, to the owners thereof and tax on each such condominium shall constitute a lien solely thereon.
A)Provision 1 is correct, 2 is incorrect.
B)Both provisions are incorrect.
C)Both provisions are correct.
D)Provision 1 is incorrect, 2 is correct.

Question

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The Answer of Which provision of the Condominium Act (RA 4796) is correct?
1) A condominium corporation shall not, during its existence, sell, exchange, and lease or otherwise dispose of the common areas owned by or held by in the condominium project unless authorized by the affirmative vote of all the stockholders or members.
2) Whenever real property has been divided into condominiums, each condominium separately owned shall be separately assessed, for purposes of real property taxation and other tax purposes, to the owners thereof and tax on each such condominium shall constitute a lien solely thereon.
A)Provision 1 is correct, 2 is incorrect.
B)Both provisions are incorrect.
C)Both provisions are correct.
D)Provision 1 is incorrect, 2 is correct.

Which Provision of the Condominium Act (RA 4796) Is Correct