REGISTRATION OF REAL ESTATE ACT

영문법령 불러오는 중…

REGISTRATION OF REAL ESTATE ACT — 법갈피

Article 23(Applicants for Registration) #

(1) Unless prescribed otherwise by any Act, registration shall be applied jointly by a person entitled to file for a registration and a person obliged to file for a registration.

(2) Registration of preservation of ownership or registration of cancellation thereof shall be applied unilaterally by a person who is to be a titleholder or by a titleholder.

(3) Registration according to inheritance, merger of corporations and general succession prescribed by the Supreme Court Regulations shall be applied unilaterally by a person entitled to file for a registration.

(4) The prevailing person entitled to file for a registration or a person obliged to file for a registration shall alone apply for registration by a judgment ordering the implementation or acceptance of the registration procedure, and a person entitled to file for a registration or a person obliged to file for a registration shall alone apply for registration by the judgment of dividing the co-owned property. <Amended on Feb. 4>

(5) Registration of change or correction of indication of real estate shall be applied unilaterally by a titleholder.

(6) Registration of change or correction of indication of a registered titleholder shall be applied unilaterally by the registered titleholder of the relevant right.

(7) Trust registration of real estate held in trust property shall be applied unilaterally by a trustee. <Added on May 28, 2013>

(8) Where a trustee establishes a trust on trust property and puts it under the management of another person pursuant to Article 3 (5) of the Trust Act, the trustee of new trust shall be a registered titleholder for the registration of transfer of the right to real estate held in the relevant trust property and the trustee of original trust shall be a person obliged to file for a registration. In such cases, registration of trust of real estate held in the relevant trust property shall be applied unilaterally by the trustee of new trust pursuant to paragraph (7). <Added on May 28, 2013>

Article 29(Rejection of Applications) #

A registrar shall reject an application for registration by a decision stating the grounds therefor only in any of the following cases; provided, this shall not apply where an applicant corrects errors by the day following the date on which the registrar orders the applicant to correct errors, if such errors in the application can be corrected: <Amended on Sep. 20, 2024>

1. Where the case does not fall under the jurisdiction of such registry;

2. Where the case is not a matter to be registered;

3. Where registration is applied by a person who is not entitled to apply for registration;

4. Where an interested party or his or her agent is not present when registration is applied in accordance with Article 24 (1) 1;

5. Where the provision of information on application does not conform to a method prescribed by the Supreme Court Regulations;

6. Where the indication of real estate or a right which is the object of registration stated in the application information is not in conformity with the registration record;

7. Where the indication of a person obliged to file for a registration stated in the application information is not in conformity with the registration record; provided, any of the following cases shall be excluded therefrom:

(a) Where a general successor applies for an application for registration in accordance with Article 27;

(b) Where it is possible to verify that a person obliged to file for a registration stated in the application information and the registration record is the same person, as prescribed by the Supreme Court Regulations;

8. Where application information is not in conformity with information proving grounds for registration;

9. Where no accompanying information necessary for registration is provided;

10. Where acquisition tax (where it is paid in installments in accordance with Article 20-2 of the Local Tax Act, referring to an amount to be paid in installments before filing for a registration), registration license tax (applicable only to registration license tax on registration) or fees are not paid, or a duty imposed on the applicant in accordance with other statutes in connection with the application for registration is not performed;

11. Where the indication of real estate entered in the application information or registration record is not in conformity with that on the land cadastre, forest land cadastre or building ledger.

Article 40(Matters to Be Registered) #

(1) A registrar shall record the following matters in the title section of registration record of a building: <Amended on Sep. 20, 2024>

1. Indication number;

2. Date of receipt;

3. Location, lot number, building name (only applicable where the name of the building is entered in the building register; hereafter the same shall apply in this Article), and building number; provided, where only 1 building exists on the same lot number, the building number shall not be recorded;

4. Kind, structure and size of building; where an annexed building exists, the kind, structure and size of the annexed building shall also be recorded;

5. Grounds for registration;

6. Drawing number (limited to where several buildings stand on the same lot number and where a building (hereinafter referred to as "sectioned building") being the object of sectioned ownership as defined in subparagraph 1 of Article 2 of the Act on Ownership and Management of Condominium Buildings.

(2) Where a building to be registered is a sectioned building, a registrar shall record location, lot number, building name, and building number in the title section of registration record of the building and building number in the title section of registration record of a part under exclusive ownership. <Amended on Sep. 20, 2024>

(3) Where a right to use a site (hereinafter referred to as "right to a site") as defined in subparagraph 6 of Article 2 of the Act on Ownership and Management of Condominium Buildings, which cannot be alienated from a building and disposed of, is vested in a sectioned building, a registrar shall record matters concerning the indication of land being the object of a right to a site in the title section of registration record of a building and matters concerning the indication of a right to a site in the title section of registration record of a section under exclusive ownership, in addition to matters to be recorded as prescribed in paragraph (2).

(4) If a registrar registers a right to a site pursuant to paragraph (3), he or she shall, ex officio, record that ownership, superficies, a right to lease on a deposit basis or leasehold interest is a right to a site in the registration record of land being the object of a right to a site.

Article 49(Procedures for Assigning Registration Numbers) #

(1) A registration number for registration of real estate (hereinafter referred to as "registration number") under Article 48 (2) shall be assigned according to the following methods: <Amended on Mar. 23, 2013; Mar. 18, 2014; Jul. 24, 2015>

1. Registration numbers for the State, local governments, international organizations and foreign governments shall be designated and publicly notified by the Minister of Land, Infrastructure and Transport;

2. A registration number shall be assigned to a Korean national residing abroad with no resident registration number by the registrar of a registry having jurisdiction over the location of the Supreme Court, and a registration number shall be assigned to a corporation by the registrar of a registry having jurisdiction over the location of its principal office (referring to the head office in cases of a company; and to a sales office or branch office in Korea, the establishment of which is first registered in cases of a foreign company);

3. A registration number shall be assigned to an association or foundation other than a juristic person and to a foreign corporation that has not registered its sales office or branch office in Korea by the head of a Si (including the heads of administrative Sis under Article 10 (2) of the Special Act on the Establishment of Jeju Special Self-Governing Province and the Development of Free International City, but excluding the heads of Sis that have Gus other than an autonomous Gu as prescribed in Article 3 (3) of the Local Autonomy Act), Gun or Gu (including the head of a Gu, other than an autonomous Gu);

4. A registration number shall be assigned to a foreigner by the head of a local immigration office having jurisdiction over his or her place of sojourn (if he or she has no place of sojourn in Korea, the seat of the Supreme Court shall be deemed his or her place of sojourn).

(2) Procedures for assigning registration numbers pursuant to paragraph (1) 2 shall be prescribed by the Supreme Court Regulations, and procedures for assigning registration numbers pursuant to paragraph (1) 3 and 4 shall be prescribed by Presidential Decree.

Article 81(Matters to Be Registered in Trust Registration) #

(1) Where a registrar makes a trust registration, he or she shall prepare a trust ledger in which the following matters are recorded, and record the number of a trust ledger in the registration record and precautions regarding transactions of real estate belonging to the trust property in addition to matters prescribed in Article 48: <Amended on Mar. 18, 2014; Sep. 20, 2024>

1. Name and address of a truster, trustee and beneficiary (in the case of a corporation, referring to the name and location of an office);

2. Where a person is determined to be given the authority to designate or change a beneficiary, the name and address of such person (in the case of a corporation, referring to the name and location of an office);

3. Where a method of designating or changing a beneficiary is determined, such method;

4. Where a condition on the occurrence and extinguishment of a beneficiary right exists, such condition;

5. Where a trust administrator is designated, the name and address of a trust administrator (in the case of a corporation, referring to the name and location of an office);

6. In cases of a trust for a specific purpose without any beneficiary, the purport;

7. Where a truster creates a trust to another person pursuant to Article 3 (5) of the Trust Act, the purport;

8. In cases of a testamentary substitute under Article 59 (1) of the Trust Act, the purport;

9. In cases of a trust for successive beneficiaries under Article 60 of the Trust Act, the purport;

10. In cases of a trust issuing beneficiary certificates under Article 78 of the Trust Act, the purport;

11. In cases of a public trust under the Public Trust Act, the purport;

12. In cases of a limited liability trust under Article 114 (1) of the Trust Act, the purport;

13. Purpose of trust;

14. Management, disposal, operation and development of trust property and methods necessary for achieving the purpose of a trust;

15. Grounds for terminating a trust;

16. Other provisions concerning trust.

(2) If any registration concerning paragraph (1) 5, 6, 10 and 11 is made, a registrar may elect not to record the name and address of beneficiaries.

(3) The trust ledger under paragraph (1) shall be deemed part of a registration record.

(4) Necessary matters regarding the details of precautions and methods of registration under paragraph (1), with the exception of its subparagraphs, shall be prescribed by the Supreme Court Regulations. <Added on Sep. 20, 2024>

[This Article Wholly Amended on May 28, 2013]

REGISTRATION OF REAL ESTATE ACT

Article 1(Purpose) #

Article 2(Definitions) #

Article 3(Registrable Rights) #

Article 4(Priority Order of Rights) #

Article 5(Priority Order of Supplementary Registration) #

Article 6(Timing for Receipt of Applications for Registration and Timing for Effectuation) #

Article 7(Competent Registries) #

Article 7-2(Special cases concerning jurisdiction over related cases) #

Article 7-3(Special cases concerning jurisdiction over cases of inheritance or bequest) #

Article 8(Delegation of Jurisdiction) #

Article 9(Change of Jurisdiction) #

Article 10(Suspension of registration duties) #

Article 11(Handling of Registration Duties) #

Article 12(Restrictions on Duties Handled by Registrars) #

Article 13(Financial Guarantee) #

Article 14(Kinds of Registers) #

Article 15(Realfolium) #

Article 16(Preparation of Duplicate Data of Registers) #

Article 17(Damage to Registers and Restoration Thereof) #

Article 18(Measures for Prevention of Damage to Supplemental Documents) #

Article 19(Perusal of Registered Matters and Certification) #

Article 20(Closure of Registration Records) #

Article 21(Rearrangement of Overlapping Registration Records) #

Article 22(Principle of Application) #

Article 23(Applicants for Registration) #

Article 24(Methods of Applying for Registration) #

Article 25(Methods of Providing Information on Application) #

Article 26(Applications for Registration by Associations Other Than Corporations) #

Article 27(Applications for Registration by General Successors) #

Article 28(Applications for Registration by Right of Subrogation of Creditors) #

Article 29(Rejection of Applications) #

Article 30(Notification of Completion of Registration) #

Article 31(Change of Administrative Districts) #

Article 32(Correction of Registration) #

Article 33(Copying Registration Records into New Registration Records) #

Article 34(Matters to Be Registered) #

Article 35(Application for Registration of Changes) #

Article 36(Registration of Change of Indication Ex Officio) #

Article 37(Restrictions on Combining Lots of Land) #

Article 38(Special Exceptions to Combining Lots of Land) #

Article 39(Application for Registration of Loss) #

Article 40(Matters to Be Registered) #

Article 41(Application for Registration of Changes) #

Article 42(Restrictions on Combination of Buildings) #

Article 43(Application for Registration of Destruction) #

Article 44(Non-Existence of Buildings) #

Article 45(Destruction of Buildings with Parties Interested in Registration) #

Article 46(Registration concerning Indication of Sectioned Buildings) #

Article 47(Registration of Section for Common Use under Agreement and Registration Following Repeal of Agreement) #

Article 48(Matters to Be Registered) #

Article 49(Procedures for Assigning Registration Numbers) #

Article 50(Information on Completion of Registration) #

Article 51(Non-Existence of Information on Completion of Registration) #

Article 52(Supplementary Registration) #

Article 53(Registration of Special Agreements for Repurchase) #

Article 54(Registration of Agreements on Extinguishment of Rights) #

Article 55(Extinguishment of Rights Due to Death and Registration of Cancellation) #

Article 56(Unknown Whereabouts of Person obliged to Make a Registration and Registration of Cancellation) #

Article 57(Cancellation of Registration with Third Parties Having Interest) #

Article 58(Cancellation of Registration Ex Officio) #

Article 59(Reinstatement of Cancelled Registration) #

Article 60(Acquisition of Rights to Use Sites) #

Article 61(Where Right to Site Is Registered in Registration Records of Sectioned Buildings) #

Article 62(Notification of Change of Ownership) #

Article 63(Provision of Taxation Data) #

Article 64(Matters to Be Registered in Registration of Preservation of Ownership) #

Article 65(Applicants for Registration of Preservation of Ownership) #

Article 66(Registration of Restrictions on Disposal of Unregistered Real Estate and Preservation Ex Officio) #

Article 67(Partial Transfer of Ownership) #

Article 68(Registration of Transaction Value) #

Article 69(Matters to Be Registered in Superficies) #

Article 70(Matters to Be Registered in Easements) #

Article 71(Matters to Be Registered in Easements of Dominant Estate) #

Article 72(Matters to Be Registered in Rights to Lease on Deposit Basis) #

Article 73(Registration of Partial Transfer of Rights to Lease on Deposit Basis Following Partial Transfer of Claim for Refund of Security Deposit) #

Article 74(Matters to Be Registered in Leasehold Interests) #

Article 75(Matters to Be Registered in Mortgage) #

Article 76(Matters to Be Registered in Pledge Right against Mortgage-Backed Credit) #

Article 77(Where Secured Claim Does Not Aim at Amount) #