This is to notify all concerned banks of Memorandum 2012-004 on the criteria for acceptability of new land titles with Presidential decree no. 1271 Annotation as underlying collateral for loans offered for rediscounting with the BSP. It is however, subject to the following conditions:
1. That the land titles submitted specifically state that the original date was on or before July 31, 1973;
2. That the lands covered are not within government, public or quasi-public reservation, forest, military or otherwise as certified by appropriate government agencies.
To secure a copy of the aforementioned memorandum, please download memo-004 from our Slideshare account.