A total of 4,029 agrarian reform beneficiaries (ARBs) from Northern Mindanao have been released from their land mortgage obligations after receiving their Certificates of Condonation with Release of Mortgage (COCROMs) from the Department of Agrarian Reform (DAR).
In a news release on Friday, the DAR said 5,064 COCROMs amounting to PHP327.937 million collective debt were distributed in a ceremony held on Thursday at Bukidnon Sports and Cultural Complex in Malaybalay City.
The farmer-beneficiaries came from across Bukidnon, Camiguin, Lanao del Norte and Misamis Occidental.
DAR-Northern Mindanao Director Zoraida Macadindang said the COCROMs cleared the farmers’ mortgages tied to 6,105.2966 hectares of agricultural land, allowing them full ownership of the land they have been tilling for decades.
“The COCROM not only alleviates financial stress but also creates opportunities for ARBs to achieve long-term prosperity and stability,” she said.
She added that the distribution of COCROMs is in line with the Marcos’ administration’s thrust to help farmers and the agricultural sector.
The debt condonation initiative complies with Republic Act 11953 or the New Agrarian Emancipation Act, which was signed into law by President Ferdinand R. Marcos Jr. in July 2023.
The law mandates the condonation of unpaid principal amortizations, interest and surcharges on agricultural lands awarded under the Comprehensive Agrarian Reform Program.
Macadindang said that by lifting the ARBs’ financial burden, they are empowered to actively participate in the economic well-being of society and contribute to rural development.
Also during the event, the DAR distributed 1,075 e-titles to 862 ARBs covering 1,140.3341 hectares under the Support to Parcelization of Lands for Individual Titling (SPLIT) project, while a total of 651 Certificates of Land Ownership Award were distributed to 717 ARBs covering 250.6028 hectares of land.
Macadindang urged the beneficiaries to use the opportunity to maximize the potential of their newly secured lands to foster community growth and contribute to a stronger agricultural sector in Northern Mindanao.
“The government is here to support you every step of the way. Together, let us work for a brighter and more productive future for the agricultural sector in Northern Mindanao,” she said. (PNA)
