Quad Alpha Centrum (Condominium) Corp.

August 2, 1983 Quad Alpha Centrum (Condominium) Corp. 125 Pioneer St.,Mandaluyong Metro Manila Attention : Mr . Benigno Ignacio Sir : This has reference to your letter dated July 20, 1983, requesting the opinion of this Commission on whether your condominium corporation can acquire by purchase an office unit within the project for use as its main office. It appears that Quad Alpha Centrum (Condominium) Corporation was formed on March 30, 1982 to own or hold title to the common areas in the condominium project known as the Quad Alpha Centrum and to manage the said condominium project. It further appears that in its meeting on June 17, 1983, the Board of Directors unanimously approved a motion to acquire an office, with all its improvements, within the project located at the basement at a cost of P45,000.00. You now inquire as to whether you are authorized to acquire an office unit within the condominium project for use as its main office. Sec. 36 of the Corporation Code provides, and we quote: "SECTION 36. Corporate powers and capacity . Every corporation incorporated under this Code has the power and capacity; xxx xxx xxx 7. To purchase, ...and otherwise deal with such real ...property ...as the corporation may reasonably and necessarily require ..." Likewise, Sec. 10 of Republic Act No. 4726 provides thus: "SECTION 10. Whenever the common areas in a condominium project are held by a condominium corporation, such corporation shall constitute the management body of the project. The corporate purposes of such a corporation shall be limited to the holding of the common areas, either in ownership or any other interest in real property recognized by law, to the management of the project, and to such other purposes as may be necessary, incidental or convenient to the accomplishment of said purpose ...." (Emphasis supplied). LibLex From the aforequoted provisions of law, it is clear and indubitable that your condominium corporation can purchase an office unit within the condominium project to be used as its main office. Please be guided accordingly. Very truly yours, (SGD.) GONZALO T. SANTOS, JR. Associate Commissioner