Question & AnswerQ&A (EXECUTIVE ORDER NO. 405)
The Land Bank of the Philippines is primarily responsible for determining land valuation and compensation for all private agricultural lands under Republic Act No. 6657, also known as the Comprehensive Agrarian Reform Law of 1988.
The Department of Agrarian Reform (DAR) uses the land valuation and compensation determination made by the Land Bank of the Philippines to perform its functions under the Comprehensive Agrarian Reform Program.
Criteria include the cost of acquisition of the land, current value of similar properties, nature and actual use of the land, income it generates, sworn valuation by the owner, tax declarations, government assessor valuations, social and economic benefits contributed by farmers and government, and non-payment of taxes or government loans as additional factors.
The Department of Agrarian Reform is responsible for distributing the lands to qualified agrarian reform beneficiaries within the time specified by law after receiving information from the Land Bank regarding the transfer of titles.
Yes, Section 3 of Executive Order No. 405 authorizes the Land Bank of the Philippines to augment its manpower resources for the purpose of implementing this order.
No, Section 4 explicitly states that this Executive Order shall not be construed to diminish the rights and remedies of landowners and agrarian reform beneficiaries under Republic Act No. 6657.
The Land Bank is responsible for land valuation and compensation under both the Voluntary Offer to Sell (VOS) and the Compulsory Acquisition (CA) arrangements as governed by Republic Act No. 6657.
The Department of Agrarian Reform continues to identify priority landholdings for coverage under the Comprehensive Agrarian Reform Program as provided in Section 2 of the Executive Order.
It was promulgated by President Corazon C. Aquino by virtue of the powers vested in her by law.
It took effect immediately on June 14, 1990, the date it was signed.