Dangerous Words on the Property Registry

Neighborhood living facility -> Means it is not a residential building; it is fine only when marked as multi-family housing (multi-unit house) and neighborhood living facility

Provisional registration -> Means the landlord may change

Trust -> A state in which the owner has transferred ownership to a trust company and taken out a loan

Attachment / Provisional attachment -> A creditor has blocked the house from being disposed of because the landlord has not repaid debts

Registration order for lease right -> Recorded to maintain the right of recourse because the landlord failed to return the deposit to the existing tenant

• Korea does not recognize the public confidence of the registration.
    Because of this, if you transact relying on a registry with records that differ from the facts, you may not be protected in your property rights.
    The Supreme Court also ruled that ownership of real estate belongs to the original owner, not the person named in the registry.

The property registry is for reference only.

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Topics: Real Estate,Moving PJT
Category: Scrap/Article