Presidential Decrees1 min read
Section 7Republic Act No. 6552., Sec./Art. 7
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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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