Hwasun-gun to Implement 'Special Real Estate Measures Act' Starting Next Month 5th

[Asia Economy Honam Reporting Headquarters Reporter Kim Young-gyun] Hwasun County, Jeonnam (Governor Gu Chung-gon) announced on the 16th that it will implement the "Special Act on Real Estate Ownership Transfer Registration, etc." (hereinafter referred to as the Special Real Estate Act) from the 5th of next month until August 4, 2022.

The Special Real Estate Act is a temporary law that allows real estate (land and buildings) without ownership preservation registration or whose registered details do not match the actual rights relationship to be registered through a simplified procedure.

It applies to all real estate that was effectively transferred or inherited through legal acts such as sales, gifts, or exchanges conducted before June 30, 1995.

Citizens wishing to apply for registration must attach a guarantee letter from at least five guarantors appointed by the town or township head, including one lawyer or judicial scrivener.

Also, if there are no objections during the two-month public notice period, applicants can receive a confirmation certificate and then apply for registration.

A county official said, "Since this law is implemented temporarily, we ask all eligible citizens to apply without omission," and added, "We will actively promote so that many citizens can benefit from the implementation of the Special Real Estate Act."

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