WHO MAY APPLY:
1. Those in open, continuous, exclusive, notorious possession of patrimonial property of state under bona fide claim of ownership since June 12, 1945 or earlier
2. Those who acquired ownership of private land by prescription
3. Those who acquired ownership of private lands by right of accretion
4. Those who acquired ownership in any manner provided for by law
LIMITATION TO OWNERSHIP OF LAND BY CORPORATION:
1. PRIVATE LANDS
a. At least 60% Filipino to acquire private land
b. Restricted as to extent reasonably necessary to enable it to carry out purpose which it was created
c. If engaged in agricultural – restricted to 1,024 ha.
2. PATRIMONIAL PROPERTY OF STATE
a. Lease for 25 years renewable
b. Limited to 1,000 ha.
c. Apply to both Filipinos & foreign cos