Case Digest: LBP vs Spouses Rosa and Pedro Costo GR No 174647
LBP vs Spouses Rosa and Pedro Costo GR No 174647 December 5, 2012 Facts: Rosa and Pedro Costo (Spouses Costo) are registered owner of a parcel of land covered by OCT No. P-6487 with an area of 9.1936 hectares. Spouses Costo voluntarily offered the said property to the DAR under CARP and its implementing rules. 7.3471 hectares was deemed qualified for acquisition, consequently LBP comuted and valued the said land in the amount of P 104,077.01. Spouses Costo then rejected the valuation and filed a determination of just compensation with the PARAD. PARAD then recomputed the land valuation and fixed the value of the property at P 468,575.92. LBP then sought relief from SAC and filed a petition for just compensation. SAC sustained the valuation of PARA...