Ulju-gun, Complete Real Estate Ownership Transfer Registration Before This August!

Ulsan Ulju-gun Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Ulsan Ulju-gun announced on the 14th that the "Special Measures Act on Real Estate Ownership Transfer Registration, etc." will end on August 4th of this year.

Known as the "Real Estate Ownership Transfer Registration Act," it has been enforced since August 5, 2020, to protect the ownership rights of the true owners by allowing registration through a simplified procedure for real estate whose registry or cadastral records do not match the actual rights relationship.

Since August 5, 2020, the county has processed 452 out of 640 cases received so far, is currently processing 188 cases, and has issued certificates for 427 parcels, completing ownership transfer registration for 386 parcels.

Among the land and buildings in Ulju-gun, real estate that was effectively transferred or inherited through legal acts such as sale, gift, or exchange before June 30, 1995, may be subject to ownership transfer registration application if there is no litigation regarding ownership attribution.

Applicants can submit a guarantee letter and certificate issuance application, stamped by a total of five guarantors?four guarantors appointed in the village (ri) where the real estate is located and one qualified guarantor such as a lawyer or judicial scrivener?to the county Land Information Division.

This transfer registration law differs from the past in that if the unregistered period after the real estate contract exceeds three years, a penalty may be imposed within 30% of the real estate appraisal value according to the Act on Registration of Real Rights of Real Estate, so caution is required.

County Governor Lee Seon-ho said, "If there are lands and buildings in our county whose ownership needs to be organized, I hope you will hurry to apply for certificate issuance."

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