Condonation of Interests Due on Certain Friar Lands
Republic Act No. 393, enacted on June 18, 1949, waives the collection of interest on friar lands within the Talisay-Minglanilla Estate in Cebu for the period from January 1, 1942, to March 10, 1945. This applies to properties sold but not fully paid under specific earlier laws. While no reimbursements will be made for interest already paid during this period, any payments made after Cebu's liberation can be applied to future installment obligations on the same property. The Act took effect upon its approval and was published in the Official Gazette.
Law Information
- Reference Number
- Republic Act No. 393
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 18, 1949
REPUBLIC ACT NO. 393
AN ACT CONDONING THE PAYMENT OF INTERESTS DUE ON FRIAR LANDS WITHIN THE TALISAY-MINGLANILLA ESTATE, PROVINCE OF CEBU, FOR THE PERIOD FROM JANUARY ONE, NINETEEN HUNDRED FORTY-TWO TO MARCH TEN, NINETEEN HUNDRED FORTY-FIVE
SECTION 1. The collection of interest for the period from January one, nineteen hundred forty-two to March ten, nineteen hundred forty-five, on friar lands within the Talisay-Minglanilla Estate, Province of Cebu, which were sold but not yet fully paid for and finally conveyed to the respective purchasers under the provisions of Act Eleven hundred twenty and Commonwealth Act Numbered Thirty-two, as amended, is hereby waived. cd
SECTION 2. No payment already made in the concept of interest for the period stated in the preceding section shall be reimbursed, but any payment made after the liberation of the Province of Cebu on account of interest due on any lot within the said estate may be applied to the payment of installments, if any, that may be due on the same lot. cd
SECTION 3. This Act shall take effect upon its approval.
Approved: June 18, 1949
Published in the Official Gazette, Vol. 45, No. 9, p. 3755 in September 1949
Cite This Law
Condonation of Interests Due on Certain Friar Lands, Republic Act No. 393, Jun 18, 1949 (Philippines)
Condonation of Interests Due on Certain Friar Lands, Republic Act No. 393 (Phil. 1949)
Related Laws
- Condonation of Certain Unpaid Interests in Favor of GovernmentRepublic Act No. 401 • Jun 18, 1949 • Statutes
- Appropriations for Friar-Lands Bonds Sinking FundAct No. 1749 • Oct 7, 1907 • Statutes
- The Friar Lands ActAct No. 1120 • Apr 26, 1904 • Statutes
- Subdivision and Sale of All Undisposed Portions of Friar Lands EstatesCommonwealth Act No. 32 • Sep 15, 1936 • Statutes
- Removal of Prohibitions Against Encumbrance or Alienation of Certain Friar LandsRepublic Act No. 3102 • Jun 17, 1961 • Statutes
- Making the Friar Lands Estates an Operating UnitAct No. 2550 • Jan 22, 1916 • Statutes
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