This case has been cited 1 times or more.
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2015-02-25 |
PERALTA, J. |
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| Similarly, the award of consequential damages should likewise be deleted in view of the fact that the entire area of the subject property is being expropriated, and not merely a portion thereof, wherein such remaining portion suffers an impairment or decrease in value, as enunciated in Republic of the Philippines v. Bank of the Philippine Islands,[22] thus: x x x The general rule is that the just compensation to which the owner of the condemned property is entitled to is the market value. Market value is that sum of money which a person desirous but not compelled to buy, and an owner willing but not compelled to sell, would agree on as a price to be paid by the buyer and received by the seller. The general rule, however, is modified where only a part of a certain property is expropriated. In such a case, the owner is not restricted to compensation for the portion actually taken, he is also entitled to recover the consequential damage, if any, to the remaining part of the property. | |||||