Let's End Real Estate Fraud: Revise Presidential Decree 957 Section 5 in the Philippines

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Let's End Real Estate Fraud: Revise Presidential Decree 957 Section 5 in the Philippines

This petition had 16 supporters
Alaine Alejandrino started this petition to Congressmen and

The Presidential Decree 957 was supposed to protect the consumer from fraudulent activities by land developers. But wait, there is something wrong with this law.

P.D 957 section 5                                                                                                    'Such owner or dealer to whom has been
issued a registration certificate shall not, however, be authorized to sell any
subdivision lot or condominium unit in the registered project unless he shall have
first obtained a license to sell the project within two weeks from the registration of
such project. '

If a developer/owner has been proven to be selling units without these proper documents, they will be subject for penalties and the license will be revoked.

However, it does not say anywhere in PD 957 that the "Contract to Sell" will also be null and void, therefore the developer can keep everything(money) that the poor buyer paid even if he demands for a refund.

Now the poor victim is left with a law that only protects the fraudster.

If we can all come together and convince those who are in power to revise this Presidential Decree, it will definitely help hundreds of victims and will also help prevent future fraud activities.

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