Authority to Director of Lands to Sell Certain Lands of the Private Domain
Act No. 3514, enacted on December 8, 1928, authorizes the Director of Lands to sell certain lands of the private domain of the Insular Government, particularly those taken over from the Agricultural Bank, back to their original owners. Owners can apply to repurchase these lands within five years, with the purchase price based on their indebtedness to the Agricultural Bank. Payment terms include a 10% down payment and the remainder in up to ten annual installments, subject to interest and the risk of forfeiture for late payments. The Act also stipulates that sales will be subject to prior reservations for public use and requires the issuance of rules and regulations to implement its provisions.
Law Information
- Reference Number
- Act No. 3514
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
December 8, 1928
ACT NO. 3514
AN ACT AUTHORIZING THE DIRECTOR OF LANDS TO SELL CERTAIN LANDS OF THE PRIVATE DOMAIN OF THE INSULAR GOVERNMENT UNDER CERTAIN CONDITIONS, AND FOR OTHER PURPOSES
SECTION 1. The Director of Lands with the approval of the Secretary of Agriculture and Natural Resources, is hereby authorized to sell lands of the private domain of the Insular Government taken over from the defunct Agricultural Bank to their previous owners under the terms and conditions to be hereafter specified.
SECTION 2. The original owners of lands acquired thru foreclosure proceedings by the Agricultural Bank may apply to the Director of Lands for the repurchase of their respective parcels of land within five years from the enactment of this Act.
SECTION 3. The purchase price of the lands subject to the sale shall be not less than the value of indebtedness to the said Agricultural Bank including all interests due and expenses incurred in the foreclosure proceedings which amounts shall be paid as follows: ten per cent upon approval of applicant's request to repurchase, the remainder in not more than ten annual installments from the date of first payment. All sum due and payable to the Government under this Act shall bear simple interest at the rate of four per centum per annum from the date when it becomes due: Provided, however, That failure on the part of the debtor to pay any installment within the period of six months from the time it is due, shall ipso facto forfeit to the Government all amounts previously paid by the debtor and the sale shall stand cancelled, null and void.
SECTION 4. Any sale of land made under this Act shall be expressly made subject to any disposition previously made by the Director of Lands under Act Thirty hundred and thirty-eight, and to any reservation made by the Government for the public use of whatever portion of the land to be repurchased.
SECTION 5. The Director of Lands, with the approval of the Secretary of Agriculture and Natural Resources, shall issue such rules and regulations consistent with this Act as may be necessary to carry into effect the provisions thereof. HAaScT
SECTION 6. This Act shall take effect upon its approval.
Approved, December 8, 1928.
Cite This Law
Authority to Director of Lands to Sell Certain Lands of the Private Domain, Act No. 3514, Dec 8, 1928 (Philippines)
Authority to Director of Lands to Sell Certain Lands of the Private Domain, Act No. 3514 (Phil. 1928)
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