Yeosu City Urges Prompt Application for Shared Land Division... Enforcement Ends May 22

[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Yeosu City in Jeollanam-do announced on the 31st that the "Special Act on the Division of Shared Land," which was temporarily implemented from May 23, 2012, will expire on May 22 of this year.

The Special Act was established to resolve the inconvenience caused by joint ownership, where the consent of all co-owners was required for exercising property rights such as new construction, extension, or bank loan collateral.

During the enforcement period of the Special Act, even if there are restrictions under other laws such as building coverage ratio, floor area ratio, division area limits, and setback distances, division and individual registration can be processed in a one-stop manner through a simplified procedure if there is an agreement among the co-owners.

The application for division must be for registered land where at least one-third of the co-owners own buildings on the land and have occupied their share of the land for more than one year.

Applications can be submitted to the Civil Affairs Cadastral Division (Sora, Yulchon, Hwayang, former Yeocheon areas) or the Central Civil Affairs Branch Office (Dolsan, Nam-myeon, Hwajeong, Samsan, former Yeosu areas) with the consent of at least one-fifth of the co-owners or 20 or more co-owners.

For more details, inquiries can be made to the Yeosu City Civil Affairs Cadastral Division or the Central Civil Affairs Branch Office.

Yeosu City has resolved citizen inconveniences by dividing 438 parcels of shared land so far, ranking first in Jeollanam-do. The city plans to focus administrative efforts on publicizing the remaining period to citizens.

Lee Changseon, head of the Civil Affairs Cadastral Division, said, “As the enforcement of the Special Act, which greatly contributes to citizens' exercise of property rights and efficient land use, is nearing its end, those wishing to divide land are urged to apply promptly.”

This content was produced with the assistance of AI translation services.