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| REPUBLIC ACT NO. 1096 - AN
ACT FURTHER AMENDING SECTION FIFTY- EIGHT OF ACT NUMBERED FOUR HUNDRED
NINETY-SIX, KNOWN AS THE "LAND REGISTRATION ACT," TO FACILITATE
DEALINGS IN LANDS SOLD BY THE GOVERNMENT PENDING APPROVAL OF THE
SUBDIVISION SURVEYS |
| Section 1.
Section fifty-eight of Act Numbered Four hundred ninety-six, known as
the Land Registration Act, is hereby further amended by adding at the
end thereof the following additional paragraph: "For the purpose of securing
loans from banking and credit institutions, the foregoing prohibition
against the acceptance for registration or annotation of a subsequent
deed or other voluntary instrument shall not apply in the case of deeds
of sale duly executed by the Government or any of its
instrumentalities, with respect to portions of lands registered in the
name of the Republic of the Philippines."
Section 2. All laws and regulations, or parts thereof inconsistent with the provisions of this Act, are hereby repealed. Section 3. This Act shall take effect upon its approval Approved: June 15, 1954 |
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