June 15, 1954

REPUBLIC ACT NO. 1096

AN ACT FURTHER AMENDING SECTION FIFTY- EIGHT OF ACT NUMBERED FOUR HUNDRED NINETY-SIX, KNOWN AS THE "LAND REGISTRATION ACT," TO FACILITATE DEALINGS IN LANDS SOLD BY THE GOVERNMENT PENDING APPROVAL OF THE SUBDIVISION SURVEYS

SECTION 1.  Section fifty-eight of Act Numbered Four hundred ninety-six, known as the Land Registration Act, is hereby further amended by adding at the end thereof the following additional paragraph:

"For the purpose of securing loans from banking and credit institutions, the foregoing prohibition against the acceptance for registration or annotation of a subsequent deed or other voluntary instrument shall not apply in the case of deeds of sale duly executed by the Government or any of its instrumentalities, with respect to portions of lands registered in the name of the Republic of the Philippines."

SECTION 2.  All laws and regulations, or parts thereof inconsistent with the provisions of this Act, are hereby repealed.

SECTION 3.  This Act shall take effect upon its approval

Approved: June 15, 1954