One of the basic feature with regard to the Philippine agrarian structure is that the majority of farmers are not owner-cultivators but tenant farmers. In the area where the commercial production is more prevalent, the rate of owner-tiller is only 20 to 30 percent although the national average is still a little more than 40 percent. These figures represent that the peasants are more deeply involved in market economy. In this paper, the author attempts to show the process of dissolution of peasants' type of landholding at a village level, based on the information and data gathered by him at one village in the town of Mina, Iloilo. Points of discussion are: firstly, that the peasant's type of landholding were rapidly fading away for the past 50 years; secondly, that the ownership of the farm are passed over to the hands of city resident as well as town center residents, who used to rent back their land to the people who was in the village; thirdly, that they are small size absentee landlord; fourthly, that the landlord-tenant relation is nothing much different compared with the general characteristic of the relation throughout the country.