Private lands are those presently owned by individuals, either Filipinos or foreigners, or corporations or association 60% of the capital of which is owned by citizens of the Philippines. These also include those lands of the public domain which have been acquired from the government by purchase or grant by qualified Filipino individuals as well as those which have been in the possession of the occupant and his predecessors-in-interest since time immemorial. Private lands may be in the nature of residential (lot, house & lot, condominium units, townhouses etc), commercial (lots, office buildings, commercial spaces etc.), industrial (warehouses, factories, plants, etc) and agricultural lands (ricelands, farm lands or estates, forest farms, etc.)