Korean Association of Certified Judicial Scriveners Urges Extension of Special Act on Real Estate Ownership Transfer Registration Validity

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[Asia Economy Reporter Kim Daehyun] The Korea Association of Certified Judicial Scriveners has urged the National Assembly to extend the validity of the "Special Act on Real Estate Ownership Transfer Registration, etc." (Real Estate Ownership Transfer Registration Act), which is set to expire early next month.

On the 27th, an association official stated, "Due to the unprecedented COVID-19 pandemic, activities related to securing ownership were restricted for over two years during the act's enforcement period. Even the registration of ownership transfer for true owners has been diminished, leaving rights protection vulnerable while only time has passed."

The Real Estate Ownership Transfer Registration Act, which expires on the 4th of next month, was originally enacted as a temporary law with a validity period of two years. People unable to exercise property rights due to lack of ownership transfer registration could register easily through this law. Since the Korean War, to organize and stabilize registrations according to actual relationships amid chaos, this temporary law has been implemented four times since 1978.

However, according to the association, the spread of COVID-19 in 2020 restricted face-to-face work, making it difficult to receive support under the Real Estate Ownership Transfer Registration Act. Judicial scriveners had to meet parties involved to investigate ownership relations and provide guarantees before registration transfer, but faced difficulties due to various quarantine measures.

To resolve these issues, lawmakers including Jeong Jin-seok and Han Ki-ho from the People Power Party, and So Byung-chul from the Democratic Party of Korea, have each proposed bills to extend the validity period by 1 to 2 years, but these have yet to pass the Legislation and Judiciary Committee.

An association official said, "Many citizens in rural and fishing villages are eagerly awaiting the law's amendment, but the delay in forming the Legislation and Judiciary Committee and the approaching deadline with only a few days left are causing great difficulties," adding, "As this is a typical livelihood bill not subject to political disputes, even if parts with conflicting opinions are excluded, the amendment to extend the 'validity period' is urgent."

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