(Eagle News)–President Rodrigo Duterte has signed a law that allows farmers holding agricultural free patents to sell their land or use it as collateral without restrictions.
Republic Act 11231, or the Agricultural Free Patent Reform Act, signed by Duterte on Feb. 22, essentially amends the Commonwealth Act 141 or the Public Land Use Act which prohibits land owners from selling and mortgaging their land within the first five years of the patent grants.
The time restriction allows original landowners to buy back the property within five years from the date of sale.
The law, which will take effect 15 days after its publication in the Official Gazette or in a newspaper of general circulation, shall have a retroactive effect.