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The Land Registration Authority (LRA; Filipino: Pangasiwaan sa Patalaan ng Lupain) is an agency of the Philippine government attached to the Department of Justice responsible for issuing decrees of registration and certificates of title and register documents, patents and other land transaction for the benefit of landowners, agrarian reform-beneficiaries and the registering public in general ...
Land registration is governed by the Land Transfer Act 1952. [25] The Deeds system was introduced in 1841 [26] [27] and the Torrens system in 1870. [28] Both methods ran in parallel until 1924 when registration under the Land Transfer Act (Torrens system) became compulsory and a project to issue titles for all property was instituted. [29]
Land grabbing; Land grant; Land registration (Scots law) Land Registration Act 1925; Land Registration Act 1936; Land Registration Act 2002; Land Registration Authority (Philippines) HM Land Registry; Land Registry (Hong Kong) Land Registry Act 1862; Land Transfer Act 1875; Le cadastre d'Orange
Particularly where customary land is involved, the introduction of formal land registration may have unpredictable effects, with the efficiency and marketisation of existing forms of land tenure underestimated, and the costs of formal registration underestimated and the security of formal land title overestimated. [2]
It is the obligation of a real property appraiser to estimate the true market value of a property and not its market price. Frequently, properties are assessed at a value below their market values; this is known as fractional assessment. [5] Fractional assessment can result in properties that are assessed at 10% or less of their given market ...
The assessment is made up of two components—the improvement or building value and the land or site value. The property tax is the main tax supporting local education, police, fire protection, government, roads, and most infrastructure, e.g. sewers, bridges, street lights. Many state and local jurisdictions add personal property taxes.
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The Torrens system was established in the Philippines on 6 November 1902, by the enactment of Act No. 496, "The Land Registration Act", which was virtually identical to the Real Property Act of Massachusetts of 1898. [35] [36]