Eminent domain possession upon tax value deposit

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PRESIDENTIAL DECREE NO. 42: Eminent domain possession upon tax value deposit

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Title Supreme Court: Eminent domain possession upon tax value deposit

Law: Presidential Decree No. 42

Decision Date: Nov 9, 1972

Presidential Decree No. 42 expedites the acquisition of property for public purposes through eminent domain proceedings by allowing the plaintiff to take possession upon depositing the assessed value, aiming to create a new social and economic order for the benefit of the country and its people.

taking possession

property involved

A

Purpose and National Interest

Aimed at expediting the exercise of eminent domain to allow quick possession of property needed for public purposes.
Enacted as part of broader reforms to create a new social and economic order benefiting the country and its people.

Deposit and Banking Mechanism

Deposit must be made with the Philippine National Bank at its main office, branches, or agencies.
The amount deposited is equivalent to the property’s assessed value for taxation, ensuring security for the property owner.

Repeal of Conflicting Provisions

Repeals provisions of Rule 67 of the Rules of Court and any other laws that are inconsistent with this decree.

Effectivity

The decree took effect immediately upon issuance on November 9, 1972.

END