The New PRC Property Law

The PRC Property Law ("Property Law" or "Law") was first proposed in 1993 and was finally passed on March 16, 2007, after seven revisions. The Law will become effective from October 1, 2007. There are five chapters and 247 articles, covering ownership rights, the ownership registration system, condominium rights, neighborhood rights, land-contracting and -managing rights, construction land-use rights, homestead land-use rights, easement and security interests, and mortgage rights.

According to Article 1, the Property Law has been formulated in accordance with the PRC Constitution in order to identify the ownership of property, protect the property rights of owners, safeguard the economic order of the socialist market, and maintain the fundamental economic system of the State.