PD 957 Section 7

Exempt Transactions.

Section 7

SECTION 7. Exempt Transactions. — A license to sell and performance bond shall not be required in any of the following transactions: a) Sale of a subdivision lot resulting from the partition of land among co-owners and co-heirs. b) Sale or transfer of a subdivision lot by the original purchaser thereof and any subsequent sale of the same lot. c) Sale of a subdivision lot or a condominium unit by or for the account of a mortgagee in the ordinary course of business when necessary to liquidate a bona fide debt.

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CitationPD 957 Section 7 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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