An Act to Amend Section Two of Commonwealth Act Numbered Thirty-Two, Entitled "An Act Providing for the Subdivision and Sale of All the Portions of the Friar Lands Estates Remaining Undisposed of"
Commonwealth Act No. 316, approved on June 9, 1938, amends the payment terms for purchasers of Friar Lands Estates, allowing them ten years to pay the purchase price in equal installments with an annual interest rate of four percent. It grants preference to bona fide occupants of up to ten hectares for private sales, with the sale price determined by the Director of Lands, subject to government approval. The Act restricts the encumbrance or alienation of acquired lands for five years, except in favor of the government or certain banking corporations, while allowing temporary improvements to be mortgaged. Additionally, it provides a five-year period for the original purchaser or heirs to repurchase conveyed property, with violations resulting in property reversion and forfeiture of payments to the state.
Quick Answers
- What is An Act to Amend Section Two of Commonwealth Act Numbered Thirty-Two, Entitled "An Act Providing for the Subdivision and Sale of All the Portions of the Friar Lands Estates Remaining Undisposed of" about?
- Commonwealth Act No. 316, approved on June 9, 1938, amends the payment terms for purchasers of Friar Lands Estates, allowing them ten years to pay the purchase price in equal installments with an annual interest rate of four percent. It grants preference to bona fide occupants of up to ten hectares for private sales, with the sale price determined by the Director of Lands, subject to government approval. The Act restricts the encumbrance or alienation of acquired lands for five years, except in favor of the government or certain banking corporations, while allowing temporary improvements to be mortgaged. Additionally, it provides a five-year period for the original purchaser or heirs to repurchase conveyed property, with violations resulting in property reversion and forfeiture of payments to the state.
- What type of law is Commonwealth Act No. 316?
- An Act to Amend Section Two of Commonwealth Act Numbered Thirty-Two, Entitled "An Act Providing for the Subdivision and Sale of All the Portions of the Friar Lands Estates Remaining Undisposed of" (Commonwealth Act No. 316) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was An Act to Amend Section Two of Commonwealth Act Numbered Thirty-Two, Entitled "An Act Providing for the Subdivision and Sale of All the Portions of the Friar Lands Estates Remaining Undisposed of" enacted?
- An Act to Amend Section Two of Commonwealth Act Numbered Thirty-Two, Entitled "An Act Providing for the Subdivision and Sale of All the Portions of the Friar Lands Estates Remaining Undisposed of" (Commonwealth Act No. 316) was enacted on Jun 9, 1938.
- What is the citation for An Act to Amend Section Two of Commonwealth Act Numbered Thirty-Two, Entitled "An Act Providing for the Subdivision and Sale of All the Portions of the Friar Lands Estates Remaining Undisposed of"?
- An Act to Amend Section Two of Commonwealth Act Numbered Thirty-Two, Entitled "An Act Providing for the Subdivision and Sale of All the Portions of the Friar Lands Estates Remaining Undisposed of", Commonwealth Act No. 316, Jun 9, 1938 (Philippines)
Law Information
- Reference Number
- Commonwealth Act No. 316
- Date Enacted
- Category
- Statutes
- Subcategory
- Commonwealth Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 9, 1938
COMMONWEALTH ACT NO. 316
AN ACT TO AMEND SECTION TWO OF COMMONWEALTH ACT NUMBERED THIRTY-TWO, ENTITLED "AN ACT PROVIDING FOR THE SUBDIVISION AND SALE OF ALL THE PORTIONS OF THE FRIAR LANDS ESTATES REMAINING UNDISPOSED OF"
SECTION 1. Section two of Commonwealth Act Numbered Thirty-two is amended so as to read as follows:
"SEC. 2. The purchasers shall be allowed ten years from the date of purchase within which to pay the purchase price in ten equal installments, with annual interest at the rate of four per centum on all installments due and payable. The persons who, at the time of the subdivision survey, are actual and bona fide occupants of any portion of the Friar Lands Estates, not exceeding ten hectares, shall be given preference to purchase the portion occupied at a private sale and at a price to be fixed, in such case, by the Director of Lands, subject to the approval of the Secretary of Agriculture and Commerce, after taking into consideration its location, quality, and any other circumstances as may affect its value, the provisions of section twelve of Act Numbered Eleven hundred and twenty, as amended, to the contrary, notwithstanding:
"Lands acquired under the provisions of this section shall not, except in favor of the Government or any of its branches or institutions, or legally constituted banking corporations, be subject to encumbrance or alienation before five years after the date of the issuance of the transfer certificate of title to the purchaser, nor shall they become liable to the satisfaction of any debt contracted prior to the expiration of said period; but temporary improvements or crops on the land may be mortgaged or pledged to qualified persons, associations, or corporations.
"Every conveyance shall be subject to repurchase by the original purchaser or his legal heirs within a period of five years from the date of the conveyance.
"Any contract or agreement made or executed in violation of this section shall cause the reversion of the property and its improvements and the forfeiture of all payments made on account of the purchase price thereof to the state."
SECTION 2. This Act shall take effect upon its approval.
Approved, June 9, 1938.
Cite This Law
An Act to Amend Section Two of Commonwealth Act Numbered Thirty-Two, Entitled "An Act Providing for the Subdivision and Sale of All the Portions of the Friar Lands Estates Remaining Undisposed of", Commonwealth Act No. 316, Jun 9, 1938 (Philippines)
An Act to Amend Section Two of Commonwealth Act Numbered Thirty-Two, Entitled "An Act Providing for the Subdivision and Sale of All the Portions of the Friar Lands Estates Remaining Undisposed of", Commonwealth Act No. 316 (Phil. 1938)
Related Laws
- Subdivision and Sale of All Undisposed Portions of Friar Lands EstatesCommonwealth Act No. 32 • Sep 15, 1936 • Statutes
- An Act to Amend Section Forty-Five of Act Numbered Two Thousand Six Hundred and Twelve, Entitled "An Act Creating the Philippine National Bank," As Amended by Act Numbered Two Thousand Nine Hundred and Thirty-EightCommonwealth Act No. 318 • Jun 9, 1938 • Statutes
- An Act to Further Amend Section Two of Commonwealth Act Numbered Seven Entitled "An Act to Create a National Loan and Investment Board, Defining its Powers, and for Other Purposes," As Amended by Commonwealth Act Numbered One Hundred NineCommonwealth Act No. 391 • Sep 5, 1938 • Statutes
- An Act to Amend Section Sixty-Two of Commonwealth Act Numbered Fifty-Seven as Amended by Commonwealth Act Numbered One Hundred Fifty-EightCommonwealth Act No. 426 • May 31, 1939 • Statutes
- An Act to Amend Certain Items and to Insert Others under Section One, Paragraph a, and to Amend Section Three of Commonwealth Act Numbered Two Hundred FortyCommonwealth Act No. 474 • Jun 17, 1939 • Statutes
- An Act to Amend Sections One, Two, Three, Four and Six of Commonwealth Act Numbered Two Hundred and Eighty-Eight, Entitled "An Act to Provide Pension For Veterans of the Philippine Revolutions or Wars"Commonwealth Act No. 359 • Aug 22, 1938 • Statutes
Browse More Statutes
Explore other laws in the Statutes category.
View All StatutesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law