PRESIDENTIAL DECREE NO. 794

: The main purpose of Presidential Decree No. 794 is to amend Section 92 of Presidential Decree No. 464 to establish a more accurate basis for payment of just compensation in expropriation proceedings, preventing owners from declaring unreasonably high market values to the disadvantage of the government.
: Section 92, Chapter IX, of Presidential Decree No. 464 is amended by Presidential Decree No. 794.
: Just compensation shall not exceed the market value declared either by the owner, administrator, or any person with legal interest in the property, or the market value determined by the assessor, whichever is lower.
: The owner, administrator, or anyone having legal interest in the property can declare the market value.
: No, the just compensation shall not exceed the lower of the declared market value or the assessor’s value.
: Because owners anticipating expropriation would declare unreasonably high property values, which often prevented the government from showing the true market value and led to exaggerated compensation claims.
: It took effect immediately upon its signing on September 4, 1975.
: Ferdinand E. Marcos was the President who signed PD No. 794 into law.
: Yes, it repeals or modifies all laws or decrees inconsistent with it.
: It ensures fairness by preventing excessive compensation claims by property owners and protecting the government's financial interests in expropriation proceedings.