Wednesday, June 30, 2010
Just Compensation for Agri-land taken under Agrarian Reform
The concept of just compensation embraces not only the correct determination of the amount to be paid to the owners of the land, but also payment within a reasonable time from its taking. Without prompt payment, compensation cannot be considered "just" inasmuch as the property owner is made to suffer the consequences of being immediately deprived of his land while being made to wait for a decade or more before actually receiving the amount necessary to cope with his loss. To condition the payment upon Land Bank's approval and its release upon compliance with some documentary requirements would render nugatory the very essence of "prompt payment".
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