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by
the
Land
Bank
and
the
Department
of
Agrarian
Reform
(DAR)
at
P10,000.00/hectare. Contending that such valuation was too low compared to existing
valuations of agricultural lands, the heirs commenced an action for just compensation. They
asked that a final valuation of the properties be pegged at P1,800,000.00, based on
Administrative Order No. 61, Series of 1992 and R.A. No. 6657.
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The RTC ordered Land Bank to pay the heirs the amount P1,227,571.10 as just
compensation.
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During the pendency of the appeal, both parties entered into an agreement re-evaluating
the cost of the parcels of land. Thus, Land Bank submitted a manifestation informing the
High Court that the parties have already filed their Joint Motion to Approve submitting their
Agreement dated November 29, 2012.
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ISSUE: Whether or not the present appeal to the Supreme Court should be dismissed?
HELD: The appeal should be closed and terminated.
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