Hwasun-gun Shortens Real Estate Transaction Report Deadline from 60 to 30 Days

[Asia Economy Honam Reporting Headquarters Reporter Kim Young-gyun] Hwasun-gun, Jeollanam-do (Governor Gu Chung-gon) will shorten the real estate transaction reporting period from within 60 days to "within 30 days" from the contract date, starting from the 21st, in accordance with the revision of the "Act on Reporting Real Estate Transactions, etc."

According to the county on the 14th, even if the real estate transaction contract is canceled, invalidated, or rescinded after reporting the transaction, it must be reported within 30 days from the date the cancellation is confirmed.

If this is not complied with, a fine of up to 5 million won will be imposed.

If a false report is made despite no real estate transaction contract being concluded or canceled, a fine of up to 30 million won will be imposed.

The county expects that the revision of the law will improve the accuracy of transaction information collected through real estate transaction reports and enhance the effectiveness of the reporting system.

A county official said, "We will actively inform the contents of the law revision and the reporting period to prevent any confusion due to the enforcement of the revised law."

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