Gwangju Nam-gu Implements Special Measures Act for Real Estate Ownership Transfer

Targeting Farmland and Forest Land in 15 Legal Neighborhoods in Daechon-dong Area

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Nam-gu, Gwangju Metropolitan City (District Mayor Kim Byeong-nae) announced on the 20th that the "Special Measures Act on Real Estate Ownership Transfer Registration," which allows unregistered real estate to be registered through a simplified procedure, has been in effect since the 5th, and will be temporarily applied for two years until August 4, 2022, targeting 15 legal dongs in the Daechon-dong area.

The areas where the special measures act applies are Guso-dong, Yangchon-dong, Dogeum-dong, Seungchon-dong, Jiseok-dong, Apchon-dong, Hwajang-dong, Chilseok-dong, Seokjeong-dong, Yanggwa-dong, Ijang-dong, Daeji-dong, Wonsan-dong, Wolseong-dong, and Sinjang-dong, which belonged to Songjeong City and Gwangsan County in Jeollanam-do as of January 1, 1988, according to administrative districts.

The scope of application includes farmland and forest land where actual transfer and inheritance occurred through legal acts such as sale, gift, or exchange before June 30, 1995, and real estate that has not been registered for ownership preservation or whose owner has not been restored.

However, the special measures act does not apply if a lawsuit regarding ownership attribution is in progress or if the land cannot be owned under the Farmland Act.

Residents who wish to transfer or preserve ownership must apply for a certificate issuance at the Land Information Division of Nam-gu Office after obtaining a guarantee from at least five guarantors appointed by the district mayor (including at least one lawyer or judicial scrivener).

For inquiries regarding the special measures act, detailed information can be obtained by contacting the Cadastral Team of the Land Information Division at Nam-gu Office.

A Nam-gu official stated, "Since the special measures act is being implemented for the first time in 14 years, we will do our best to promote the related contents so that many residents can benefit from the temporary law application."

Meanwhile, unlike in the past, this special measures act expands the number of guarantors, including qualified guarantors, from three to five, and includes provisions such as fines for omission of registration and penalties for long-term unregistered cases, so it is necessary to carefully review these details before applying.

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