What are the Penalties for violations of the Real Estate Service Act?
SEC. 39. Penal Provisions Any violation of this Act, including violations of implementing rules and regulations, shall be meted the penalty of a fine of not less than One hundred thousand pesos (P100,000.00) or imprisonment of not less than two (2) years, or both such fine and imprisonment upon the discretion of the court. In case the violation is committed by an unlicensed real estate service practitioner, the penalty shall be double the aforesaid fine and imprisonment. In case the violation is committed by a partnership, corporation, association or any other juridical person, the partner, president, director or manager who has committed or consented to or knowingly tolerated such violation shall be held directly liable and responsible for the acts as principal or as a co-principal with the other participants, if any.
Related Questions
- How do I find out if a Service Contract Provider or Service Contract Administrator has been assessed penalties or sanctions for violating the Act or the rules?
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- What are the penalties for violations of the Act?
