|
Monday, October 31, 2005
Real estate firm stresses operation's legality
By Rimaliza Opiña
THE management of Vicinage Territories Realty Corporation, developer of the Hazel Wood Grove Neighborhood Association, Sunday refuted the allegation of Housing and Land Use Regulatory Board (HLURB) Regional Director Rebecca Torres that they are illegally engaged in community mortgage programs.
Vicinage retainer lawyer Marion Cacho said Vicinage, as per their registration at the Securities and Exchange Commission (SEC), has judicial personality to transact business, adding the association's purpose is to help its member-beneficiaries raise funds for whatever activity they wish to undertake, foremost of which is to acquire property.
He also denied that the Hazel Wood Grove has represented itself as a homeowners association and has sold lots to its members as well as would-be members, stressing that Vicinage is aware of the requirement that selling of lots through socialized housing schemes needs a license from the HLURB and a registration with the Home Development Mutual Fund (HDMF).
Cacho also justified their collection of P5,000 maximum to its members. He said any organization would need funds to mobilize their operations, hence their collection of the amount from its members. The membership fee, he added, is paid on a five-month staggered basis.
He said there is no definite site where members of the neighborhood association would acquire their lots, as these are undergoing evaluation, taking into consideration the geo-hazard situation of Baguio City.
HLURB Legal Officer Harry No-ol, meanwhile, said while it does not question the group's put-up of a "self-help" group, the transactions which Vicinage or Hazel Wood is involved in speak of transactions normally entered into by a homeowners association.
He said the HLURB continues to receive queries relative to the group's amortization scheme.
He said the June 28, 2005 letter of Torres to Baguio City Mayor Braulio Yaranon, which warned him that his office is being used to show the legitimacy of the group's operation, was a mere reaction to a photo release published on a weekly newspaper based in the city.
Torres, in a letter, said the collection of membership fee is in violation of Presidential Decree (PD) 957 or the Subdivision and Condominium Buyers Protective Decree.
"They refute that they are not into socialized housing program, but the caption would speak for itself. Our letter was based from that published photo," No-ol said, adding that the site development plan in Barangay Lucnab in the city submitted by Vicinage to the HLURB last August 5 is a proof that they are into the "selling" of lots.
But as the HLURB continues to question the operation of Vicinage, its chief executive officer and president, Angelito Mallonga and the interim board of trustees of Hazel Wood Grove, maintain that "the real estate firm's existence is legitimate."
(October 31, 2005 issue)
Write letter to the editor. Click here.
Join the Sun.Star message board. Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
|
