PONDEROSA HOA FAQs

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At what point does one become a lot owner of Ponderosa?

 

Based on the Contract to Sell, the Buyer may take possession of the property upon payment of not less than 50% of total contract price, subject to certain provisions. 

 

After taking possession, at what point does lot owner become a HOA member?

 

Based on the provisions of the Deed of Absolute Sale, the Deed of Restrictions and the Amended By-Laws of the HOA, the lot owner becomes a HOA member automatically upon execution of the Deed of Absolute Sale.  Note that it is not the Transfer Certificate of Title (TCT) that is crucial but rather the execution of the Deed of Absolute Sale.  

 

What is the TCT a pre-requisite for?

 

The Contract to Sell and the Deed of Absolute Sale specify that the lot owner must build and complete a single residential house not later than 60 months (5 years) from the date of the issuance of the TCT to the lot owner.  In other words, once the TCT is issued, lot owner is required to build on the property within 5 years.

 

I have not received my TCT from Landco. Should I be assessed HOA dues?

 

Yes, you are covered by the requirement to pay HOA dues because you signed the Deed of Absolute Sale.

 

Why are lot owners and home owners being charged the same rate of HOA dues?

 

Except for the very few who bought the model houses, majority of HOA members started as lot owners, paying Php2.80 per square meter.  This rate has not been increased since the start. 

 

Why are lot owners being charged grass-cutting fees?

 

Per Section 2.1.5 of the Deed of Restrictions, lot owners are responsible for keeping their lots free from “cogon”, “talahib”, and other wild vegetation.  Failure to do so within five (5) days’ written notice from the HOA will subject lot owner to grass-cutting fees. Note that grass-cutting fees ARE NOT part of HOA dues per the Deed of Restrictions.