JOINT DAR-LBP MEMORANDUM CIRCULAR NO. 11-08
TO : All DAR and LBP Agrarian Operations Centers Personnel
SUBJECT : Turn-Over of Original Owner's Duplicate Copy (ODC) of CLOA or EP Title to LBP
1. The DAR Administrative Order No. 02, Series of 2005, provides that "In consideration of the payment made by the LBP, the original Owner's duplicate copy of CLOA-Titles shall be surrendered to LBP as mortgagee";
2. It is the policy of the Land Registration Authority pursuant to LRA Circular No. 05-2006, dated 23 February 2006, and, Circular No. 395, dated 23 June 1981, "that the Register of Deeds will only release the owner's duplicate of the title to the presentor of the transaction, who normally is the registered owner or a party to the instrument. If the owner's copy of the title is to be claimed by a person or party other than the presentor of the document, then he/she must have written authority from the registered owner or the party to the instrument. Only under such condition will the Register of Deeds release the owner's copy to that person other than the presentor."
3. The DAR, who is the presentor to the Register of Deeds of transactions on lands covered under CARP, shall have to comply with this law such that the Original Duplicate Copy (ODC) of CLOA-Titles shall be released to LBP, as mortgagee-bank, by the Register of Deed (ROD), consistent with the provisions of DAR AO 02, series of 2005.
4. To ensure full compliance that the owner's ODC of CLOA-Title shall be released directly to LBP, the DAR through a Memorandum of Agreement dated 02 October 2008 designated and authorized the LBP to claim from the RODs the original ODC of CLOA or EP title.
5. The LBP shall, upon receipt from the RODs of the original ODC of CLOA or EP title, provide the DAR with two (2) certified photocopies of the title/s, one (1) for the DAR and one (1) for the ARBs.
6. The photocopying costs shall be shouldered by LBP chargeable to the Agrarian Reform Fund (ARF) budget for Maintenance and Other Operating Expenses.
(SGD.) NASSER C. PANGANDAMAN
Department of Agrarian Reform
(SGD.) GILDA E. PICO
President & CEO
Land Bank of the Philippines