Amendment to Friar Lands Act on land sales

Actual and bona fide settlers occupying friar lands at the government's acquisition have the right to purchase their occupied portions.
Purchase price is at the actual cost to the government.
Buyers may pay over fifteen years in equal annual installments with 4% interest per annum.
Existing contracts of sale made before this amendment may be extended by the Director of Lands for up to ten additional years.
Terms of purchase require agreement between purchaser and Director of Lands, subject to Secretary of Agriculture and Natural Resources' approval.

The Director of Lands must notify the municipal president(s) of the municipality where the lands are situated before lease or sale.
The municipal president is required to publish the notice for three consecutive days via bandillos in the poblacion and affected barrios.
Certification of this publication must be sent back to the Director of Lands prior to executing lease or sale.
Preference for purchase or lease is given to tenants or bona fide occupants, or if multiple, to the last occupant or tenant.
These publication and notification procedures do not apply to leases or sales to any provincial or municipal government or other government entity.

The Governor-General, with Senate resolution, can proclaim any lands as nonalienable and reserve them for public use.
Such lands thereafter cannot be sold, leased, or disposed of under the Act.
Upon petition by governmental entities, the Governor-General may exempt unsold or vacant land from sale or lease for public service.
The petitioning government entity must pay full value plus accrued interest to the friar lands sinking fund.
After payment, the title is transferred to the concerned government entity by the Director of Lands.