This case has been cited 1 times or more.
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2006-02-28 |
CHICO-NAZARIO, J. |
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| Anent the issue of the validity of the payments to the LBP, respondents direct us to our holding in the case of Locsin v. Valenzuela[36] where we declared that "(u)nder PD No. 251, dated July 21, 1973, the Land Bank is tasked to finance the acquisition of farm lots and whenever it pays the whole or a portion of the total cost of the farm lots, it shall be subrogated to the right of the landowner to collect and receive the yearly amortizations or the amount paid including interest thereon, from the tenants-farmers in whose favor the farm lots had been transferred pursuant to PD No. 27."[37] | |||||