Muan-gun Urges Prompt Application for Special Real Estate Measures Act

Published 14 Sep.2021 11:05(KST)

Unregistered Land of Ancestors, Real Estate Transferred Before June 30, 1995

Muan-gun Government Office Building View ? Asia Economy

[Muan＝Asia Economy Honam Reporting Headquarters Reporter Oh Hwan-joo] Muan County, Jeollanam-do (Governor Kim San) announced that it will guide the use of the Special Act on Real Estate Ownership Transfer Registration for land remaining under ancestral names during the Chuseok holiday and urged people to apply quickly as the operation period is less than one year.

The Special Act on Real Estate is a special law temporarily enforced for two years from August 5 last year to August 4 next year. It targets real estate registered in the land and forest register and building register that were effectively transferred through acquisition causes such as sale, gift, inheritance, or exchange before June 30, 1995, and for which ownership preservation registration has not been made. Real estate involved in ongoing ownership-related lawsuits is not applicable.

If you wish to apply under the Special Act on Real Estate, you must submit a guarantee letter signed by five or more guarantors (including one judicial scrivener) appointed in the location of the relevant real estate to the Civil Affairs Cadastral Division. If there are no objections from interested parties during the two-month public notice period, you can receive a confirmation certificate and apply for registration at the responsible registry office.

Governor Kim San said, “By the end of August, about 1,900 confirmation certificate issuance applications were received. Ahead of the upcoming Chuseok holiday, we will do our best in handling the work so that many residents can benefit from the Special Act on Real Estate through multifaceted promotions such as posting banners in the towns and townships and operating booths in traditional markets.”