Jangseong-gun Simplifies Land and Building Ownership Transfer Registration

[Asia Economy Honam Reporting Headquarters, Reporter Jo Hangyu] Jangseong County in Jeonnam announced on the 16th that it will simplify the procedures for ownership transfer registration of land and buildings.

According to the enforcement of the "Special Measures Act on Real Estate Ownership Transfer Registration," from next month 5th until August 4, 2022, land or buildings can be transferred and registered through a simplified procedure.

This 4th Special Measures Act is being implemented for the first time in 14 years, following the 1st in 1978, 2nd in 1993, and 3rd in 2006.

The applicable targets are real estate that was effectively transferred by legal acts such as sale, gift, or exchange before June 30, 1995, inherited real estate, and land and buildings without ownership preservation registration.

However, real estate currently involved in ownership-related litigation is excluded.

To transfer ownership under the Special Measures Act, when applying for the issuance of the transfer confirmation certificate, applicants must submit a guarantee letter signed by five guarantors appointed by each eup and myeon chief.

A county official said, "Despite the implementation of the Special Measures Act in three previous phases, there are still real estate properties without ownership transfer registration. We encourage many applications."

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