Goheung-gun Significantly Reduces Fees for Qualification Guarantors under the Special Real Estate Measures Act
Government Standard Amount Reduced from 4.5 Million Won to 200,000 Won to Ease Residents' Burden
[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Goheung-gun, Jeollanam-do announced on the 25th that it held a meeting with lawyers and judicial scriveners who are scheduled to be appointed as qualification guarantors in Goheung-gun to ensure the smooth implementation of the "Special Measures Act on Real Estate Ownership Transfer Registration, etc.," which will be temporarily enforced for two years starting August this year.
The meeting provided guidance on the main tasks of the qualification guarantors and shared the understanding that the role of qualification guarantors is necessary for the smooth enforcement of the law. Unlike in the past, the special measures act involved continuous consultations with county officials regarding the fees for qualification guarantors that applicants must bear.
The fee standard for qualification guarantors is stipulated to be within the range not exceeding the fee standard amount of 4.5 million KRW announced by the Ministry of Justice.
However, Goheung-gun’s qualification guarantor fee standard applies the agreement made with the Gwangju Jeonnam Regional Judicial Scrivener Association, setting the fee at 200,000 KRW, which is a 30% reduction of the fee standard amount for those residing in Jeollanam-do, and the registration application fee is set at 70,000 KRW according to the agreement.
Additionally, if the transfer date or the transferor’s land lot number of the same content is added, an additional 20,000 KRW per lot is charged, and depending on the difficulty of the work, additional fees of 500,000 KRW, 700,000 KRW, or 1,000,000 KRW can be received.
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A county official stated, “Since the Real Estate Special Measures Act is temporarily enforced, we thank the Goheung-gun Judicial Scrivener Association for significantly lowering the fee standard for qualification guarantors to reduce the financial burden on residents. We will do our best to help many residents exercise their property rights through continuous promotion.”
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