Authorizing The Plaintiff In Eminent Domain Proceedings To Take The Possessions Of The Property Involved Upon Depositing The Assessed Value, For Purpose Of Taxation
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Authorizing The Plaintiff In Eminent Domain Proceedings To Take The Possessions Of The Property Involved Upon Depositing The Assessed Value, For Purpose Of Taxation
Presidential Decree No. 42
November 9, 1972
Case Overview and Summary
Summary of Presidential Decree No. 42Provisions on Eminent Domain Proceedings:
- Allows the plaintiff in eminent domain proceedings to take or enter possession of the real property involved upon depositing the assessed value for taxation purposes with the Philippine National Bank.
- The deposit must be made at the Philippine National Bank's main office or any of its branches or agencies.
- The deposit amount is equivalent to the assessed value of the property for taxation purposes.
- The deposit is held by the bank subject to the orders and final disposition of the court.
- This provision applies after filing the complaint in eminent domain proceedings or at any time thereafter, and after due notice to the defendant.
- Repeals the provisions of Rule 67 of the Rules of Court and any other existing law contrary to or inconsistent with this Decree.
- The Decree takes effect immediately.
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Tags
Executive Issuances
Presidential Decrees
eminent domain
possession of property
assessed value
taxation
deposit
Philippine National Bank
court order
final disposition
repeal
Rule 67 of the Rules of Court
Law
Authorizing The Plaintiff In Eminent Domain Proceedings To Take The Possessions Of The Property Involved Upon Depositing The Assessed Value, For Purpose Of Taxation
Presidential Decree No. 42
•November 9, 1972
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 42 November 9, 1972
AUTHORIZING THE PLAINTIFF IN EMINENT DOMAIN PROCEEDINGS TO TAKE THE POSSESSIONS OF THE PROPERTY INVOLVED UPON DEPOSITING THE ASSESSED VALUE, FOR PURPOSE OF TAXATION
WHEREAS, the existing procedure for the exercise of the right of eminent domain is not expeditious enough to enable the plaintiff to take or enter upon the possession of the real property involved as soon as possible, when needed for public purposes;
WHEREAS, this measure is in the national interest, in order to effect the desired changes and reforms to create a new social and economic order for the benefit of the country and its people.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution as the Commander-in-Chief of all the Armed Forces of the Philippines, and pursuant to Proclamation No. 1081, dated September 21, 1972 and General Order No. 1, dated September 22, 1972, as amended do hereby decree and order as part of the...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
eminent domain
possession of property
assessed value
taxation
deposit
Philippine National Bank
court order
final disposition
repeal
Rule 67 of the Rules of Court
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 42 November 9, 1972
AUTHORIZING THE PLAINTIFF IN EMINENT DOMAIN PROCEEDINGS TO TAKE THE POSSESSIONS OF THE PROPERTY INVOLVED UPON DEPOSITING THE ASSESSED VALUE, FOR PURPOSE OF TAXATION
WHEREAS, the existing procedure for the exercise of the right of eminent domain is not expeditious enough to enable the plaintiff to take or enter upon the possession of the real property involved as soon as possible, when needed for public purposes;
WHEREAS, this measure is in the national interest, in order to effect the desired changes and reforms to create a new social and economic order for the benefit of the country and its people.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution as the Commander-in-Chief of all the Armed Forces of the Philippines, and pursuant to Proclamation No. 1081, dated September 21, 1972 and General Order No. 1, dated September 22, 1972, as amended do hereby decree and order as part of the...
Login to see full content