Jung Junho: "Blocking Fake Real Estate Registrations Exploited in Jeonse Scams"

Representative Proposal of the 'Real Estate Registration Act Amendment'
Up to 2 Years Imprisonment for False Applications

Junho Jung, Member of the National Assembly.

A new bill has been introduced to fundamentally block crimes that exploit forged documents to manipulate real estate registry extracts for Jeonse fraud.

Jung Junho, a member of the Democratic Party of Korea (Gwangju Buk-gu Gap), announced on the 23rd that he has proposed an amendment to the Real Estate Registration Act. The amendment would require court registrars to verify the authenticity of documents with relevant administrative agencies when receiving real estate registration applications, and impose imprisonment of up to two years for submitting false documents.

This move comes in response to the growing social problem of numerous cases where forged or false documents are submitted to distort real estate registries, which are then used as the basis for various real estate scams such as Jeonse fraud.

Countries such as Germany, the United Kingdom, Switzerland, and Taiwan recognize the credibility of real estate registry extracts, while Australia operates a system (Torrens) that compensates victims for damages caused by registration errors or reliance on registry credibility.

If the amendment passes, registry offices will be able to verify actual facts, which is expected to eliminate false real estate registries and have positive effects such as stricter punishment for fraud and reduced social costs.

Jung emphasized, "While I understand the intent of the Civil Act not to recognize the credibility of registries, it is necessary to improve the system to reflect the reality that the vast majority of citizens trust the registry. The courts should take a forward-looking approach to solving social issues such as eradicating Jeonse fraud, considering the future rather than the past."

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