Back

Land Bank of the Philippines vs. Leonila P. Celada

LAND BANK OF THE PHILIPPINES, Petitioner, vs. LEONILA P. CELADA, Respondent.

G.R. No. 164876 | 2006-01-23


FIRST DIVISION

D E C I S I O N 

YNARES-SANTIAGO, J.: 

Respondent Leonila P. Celada owns 22.3167 hectares of agricultural land situated in Calatrava, Carmen, Bohol registered under TCT No. 16436,[1] of which 14.1939 hectares was identified in 1998 by the Department of Agrarian Reform (DAR) as suitable for compulsory acquisition under the Comprehensive Agrarian Reform Program (CARP). The matter was then indorsed to petitioner Land Bank of the Philippines (LBP) for field investigation and land valuation. 

In due course, LBP valued respondent's land at P2.1105517 per square meter for an aggregate value of P299,569.61.[2] The DAR...