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Identify (a) the controlling rule about lands of the public domain as refined in Republic v. Pasig Rizal Co., Inc., G.R. No. 213207 (Feb. 15, 2022) (all Opinions); (b) distinguish between lands that remain part of the public domain and lands that have become alienable and disposable and may be privately owned; and (c) in the following scenario decide whether the title should be cancelled or reverted and explain the effects on the corporation and on potential third‑party rights:
Scenario: A Filipino-owned corporation holds a 6-hectare title to land along a river, issued in 1953 under a Land Registration Decree. In 1989 the government classifies the parcel as part of the public domain, specifying it as riverbank forest area. The corporation has tax declarations and improvements in its name. In 2029, the State seeks to cancel the title and revert the land to the State. A long-term lease to a private party exists since 2010, expiring 2035, covering 3 hectares of the parcel. (a) Identify the controlling rule and the applicable framework from Pasig Rizal; (b) distinguish between lands remaining in the public domain versus those that have become alienable and disposable and may be privately owned; (c) apply that rule to decide whether the title should be cancelled or reverted, and explain the effects on the title holder and on the leaseholder, including potential third‑party rights.