Law governing the operation of memorial parks and cemeteries

PD 957

PD 856

National Building Code

BP 344

RA 7277

Water Code

Electrical Code

Required Documents for the approval of the preliminary development plan (cemetery)

Site development plan

TCT and Survey Plan

CTC of Environmental Compliance Certificate (ECC) and Certificate of non-coverage (CNC)

Vicinity and Topo map

Conversion order or exemption clearance from DAR

Zoning Certification issued by HLURB

Required documents for the approval of the Final memorial Park

Final cemetery plan

Engineering plan signed by a licensed CE

Centralized sewer system signed by sanitary engineer

Electrical plan

Site grading plan signed by a CE

Landscaping plan

Joint affidavit of owner and licensed environmental planner

Summary of project study

TCT

Storm drainage signed by a sanitary engineer

Clearances/permits

Requirements of the preliminary approval of the farmlot subdivision plan

preliminary subdivision plan

Vicinity and topo map

TCT

Right to use

Requirements for the final approval of farmlot subdivision plan

Requirements of the preliminary subdivision plan

Final subdivision plan

Topo plan

Project description

Clearance from other agencies

PD 957 – regulating the sale of subdivision lots and condominium projects development

RA 4726 – Condominium act

RA 6552 – Realty Installment Buyer Protection Act

PD 953 – Planting trees requirement

BP 220 – socialized economic housing

HABU Considerations

Vacant Land

Improved property – land as though vacant, property as improved

Nature of analysis – consideration of probable alternative uses

Extent of analysis – consideration of highly competitive alternative uses

Items specified in highest and best use conclusions

Appraisal – the process of making an estimate on the value of any asset/property in accordance with

generally accepted standards as of given date

Valuation – a determination of the monetary value of a property right encompassed in an ownership

at a specific time

Earning forecast – an estimate or forecast of future net monetary returns, derivable from something

owned or considered as being owned

Cost estimation – an estimate of the amount of money that would be required to construct, produce,

replace or reproduce some tangible and/or intangible things regardless of its ownership

at a particular time

Fair market value – the highest monetary unit amount that the property should bring in a competitive

market

Price – the amount or consideration paid or offered for a particular property. It is the subjective

value of the property or the value in exchange.

Cost – the capital expense in the formation and construction of a finished product. It includes

the original cost of land and construction materials as well as profit and professional

services

Value – the worth, usefulness or utility of an object for some purpose. It is also defined as the

price an asset will bring under the present market conditions of supply and demand.

Value in exchange – the value of the property traded in the market, which is referred as the market value

Market value – the highest price estimate in terms of money that a real property is acquired by a buyer

who is willing to buy and a seller who is willing to sell but is not obliged to sell. It is also

the usual selling price of real estate or real property.

Purposes of appraisals

- Partition and distribution of estate

- Maximize Utilization

- Taxation

- fixed Asset valuation in business

- Guide in pricing

- Indemnification

- Financing

Determinants of value in appraisal

- Utility

- Scarcity or the supply and demand

- Transferability

- Effective demand or purchasing value

Factors that influence Value

- Political

- Economic

- Political

- Social

Title Verification and Location pinpointing (information on an approved plan)

1. Location of property

2. Name of claimant

3. Location of land

4. Legal authority

5. Name of surveyor

6. Description of point 1 of boundary

7. Description of points of reference

8. Bearing and distances from point of reference to point 1 of boundary

9. Bearing and distances of boundary line in consecutive order

10. Area in square meters

11. Description of each corner as marked on the ground

12. Name of adjoining owners

13. Date of survey and date of approval

Highest and best use – that use which will ultimately represent the most profitable utilization of the site.

It is the legal continuous use to which the property is adapted and needed or

likely to be needed in the reasonably near future.

Elements affecting HABU

The Valuation Process

Definition of assignment

Preliminary analysis data selection and collection

Highest and Best Use

Application of the Approaches in Value

Reconciliation of Value Indications and Fixed Value Estimate

Report of Detailed Value

- Adaptability

- Availability

- Effective demand

- Intensity of Use

Purposes of HABU

- Can be performed for site development and for improved properties

- Analysis of alternative uses determines HABU

- Assist an owner in maximizing return

- Provides an economic basis for the use finally chosen

- Market analysis provides information on physical, legal and economic issues

- Establishes criteria for selecting comparable sales

- Establishes the elements of comparison

Considerations

- Vacant Land

- Improved property

- Nature of analysis

- Extent of analysis

- Items Specified in HABU conclusions

Testing Criteria (HABU)

- Legally permissible

- Physically possible

- Financially Feasible

- Maximum productivity

Special Situations in HABU

- Interim uses = Badminton

- Single uses = Museum

- Legally conforming uses = was lawfully established but no longer conforms to the land use

- Uses that are not the highest and best uses

- Multiple uses = condo

- Special-purpose uses = church

Sales comparison approach – method of estimating a property value based on comparison of the subject

property with similar properties within the vicinity