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3. ARTATES VS URBI
As prescribed by law, for a period of five years from the date of government grant, lands
acquired by free or homestead patent shall be incapable of being encumbered or
alienated except
a) in favor of the government itself or any of its institutions;
b) in favor of duly constituted banking corporations.
They shall not be liable to the satisfaction of any debt contracted within the same
period, whether or not the indebtedness shall mature during or after the prohibited
time.
A sale made thereof is null and void and produces no effect and applies even in
involuntary sale. Thus, the requisite of a licit object in a contract of sale is not present as
prohibited by law.