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PRESIDENTIAL DECREE NO. 471
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PRESIDENTIAL DECREE NO. 471 -
FIXING A MAXIMUM PERIOD FOR THE DURATION OF LEASES OR PRIVATE LANDS TO
ALIENS
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chanroblesvirtualawlibrary
WHEREAS,
the Constitution bans the acquisition by aliens and alien-owned
entities of public and private lands; chanroblesvirtualawlibrary
WHEREAS, leases of unreasonably long duration would amount to a virtual
transfer of ownership in violation of the intent of the Constitutional
prohibition;chanroblesvirtualawlibrary
WHEREAS, there is a compelling need to fix a reasonable maximum period
for the duration of leases of private lands to aliens and to enforce
compliance thereof by punishing violations;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
order and degree:cralaw:red
Section 1. The maximum period allowable for the
duration of leases of private lands to aliens or alien-owned
corporations, associations, or entities not qualified to acquire
private lands in the Philippines shall be twenty-five years, renewable
for another period of twenty-five years upon mutual agreement of both
lessor and lessee.
Section 2. Any contract or agreement made or executed
in violation of this degree shall be null and void ab initio, and both
parties to the agreement shall be punished by a fine of not less than
five hundred nor more than one thousand pesos, or by imprisonment of
from six months to one year, or both in the discretion of the court,
Provided, that the president or managers and directors or trustees of
corporations, associations or partnerships violating this decree shall
be criminally liable in lieu thereof.
Section 3. This decree shall take effect immediately.
Done in the City of Manila,
this 24th day of May, in the year of Our Lord, nineteen hundred and
seventy-four.
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