Recent Legal Developments In The Real Estate And Construction Sector

Article by Dr. Björn Etgen

The article was first published in the November 08 edition of the magazine "Asian Counsels", www.pbpress.com

The newly promulgated Measures for Building Registration, effective as of 1 July 2008, complement the relevant provisions of the Property Rights Law and the recent Measures for Land Registration. The building registration measures categorize buildings and structures that qualify for real estate title registration, and outline the procedure for creating and protecting an ownership interest in such real estate. In order to clarify owners' property rights, certain certificates will bear proof of the holder's interest in a building. In general, registration is permitted as long as fixed boundaries, independent use and a sole serial number are provided for. Importantly, a forenotice registration of land interests under certain conditions will help protect the interest of the original purchaser.