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 the Voluntary Offer to Sell (VOS) or Compulsory Acquisition (CA) arrangements governed by Republic Act No. 6657.
Factors include the cost of acquisition, current value of similar properties, nature and actual use of the land, income from the land, sworn valuation by the owner, tax declarations, government assessment, social and economic benefits contributed by farmers and the government, and any non-payment of taxes or government loans.
DAR continues to identify priority landholdings under the Comprehensive Agrarian Reform Program and makes use of the land valuation and compensation determinations by the Land Bank in performing its functions, including distribution of lands to qualified agrarian reform beneficiaries.
Just compensation is the amount agreed upon by the landowner, DAR, and the Land Bank of the Philippines based on Section 16 and 17 of RA 6657 or as finally determined by the court.
The Land Bank must inform the Department of Agrarian Reform, which then proceeds with the distribution of lands to qualified agrarian reform beneficiaries within the time specified by law.
Yes, Section 3 authorizes the Land Bank of the Philippines to augment its manpower for implementation purposes.
No, Section 4 clearly states that the EO shall not diminish the rights and remedies of landowners and agrarian reform beneficiaries under RA 6657.
The Land Bank employs commercial banking personnel with professional expertise in appraising agricultural properties especially for granting loans.
It streamlines and accelerates the acquisition and distribution processes by vesting the Land Bank with primary responsibility to determine land valuation and compensation, simplifying administrative procedures.
The Executive Order took effect immediately upon issuance on June 14, 1990.