THE Department of Agrarian Reform (DAR) has awarded 39,443 certificates of condonation with release of mortgage (CoCRoMs) to 29,948 agrarian reform beneficiaries (ARBs) in Panay and Guimaras Islands in Iloilo, formally writing off P1.135 billion in mortgage payment arrears with state-run Land Bank of the Philippines.
DAR Undersecretary for foreign-assisted and special projects Jesry Palmares said “the issuance of these CoCRoMs allows our ARBs to fully utilize their awarded lands without the burden of past mortgage obligations.”
“This directly implements the provisions of Republic Act 11953, empowering our farmers with full ownership rights, significantly improving their security of tenure, and enhancing their economic welfare. It’s about providing genuine freedom and opportunity,” he added.
RA 11953 or the New Agrarian Emancipation Act provides for the emancipation of farmer-beneficiaries from the financial burden of paying loans and other debts associated with their land, condoning all principal loans, unpaid amortizations, and interests, and exempting them from estate tax over their lands.
The DAR also distributed 275 certificates of land ownership award within a 283.80-hectare land to 183 farmers throughout Panay and Guimaras Islands.
At least 621 electronic land titles (e-titles), encompassing an area of 702.32 hectares were awarded to 361 beneficiaries under the Support to Parcelization of Lands for Individual Titling project.
Meanwhile, in Soccsksargen, DAR Secretary Conrado Estrella III also spearheaded the distribution of 10,799 CoCRoMs to 16,380 liberating them from the burden of decades-old debt to the tune of P799 million.
The event marked the award of 15,719 land titles and certificates, covering a total of 27,770.33 hectares of agricultural land to the farmer-beneficiaries.
