All acquired real properties transferred in the name of the Republic of the Philippines, having passed the one-year redemption period, shall be converted into cash by way of public and/or private sale, as the case may be, in accordance with the existing tax laws, rules and regulations, within three (3) years from the date of acquisition/forfeiture and/ or seizure thereof, unless there are justifiable and valid reasons for the non-disposition of these properties within the aforesaid period.
All acquired personal properties shall be sold and/or disposed of immediately from the date of forfeiture for whatever reasonable amount that can be realized therefrom. The sale of acquired properties, except the intangible personal properties forfeited by the LTS, shall be undertaken by the RDOs.
Disposition of acquired agricultural properties shall be governed by the provisions of EO No. 407 dated June 14, 1990, to determine whether or not the acquired assets are, in reality, suitable for agriculture. All acquired agricultural real properties that will be declared as suitable for agriculture by the DAR and LBP shall be transferred immediately to the DAR.
Unsold acquired/forfeited assets by the BIR may be transferred to interested government agencies, following the guidelines set forth in COA Circular No. 89-296 dated January 27, 1989 entitled "Audit Guidelines on the Divestment or Disposal of Property and Other Assets of National Government Agencies and Instrumentalities, Local Government Units and Government-Owned or Controlled Corporations and their Subsidiaries". The provisions of Accounting Policies on Garnished Properties issued by the COA Government Accountancy and Financial Management Information Sector (COA GAFMIS) can also be used as basis in the sale or disposition of the said assets/properties in favor of other government agencies.