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BIZCHINA / Center |
Draft rule on housing registration releasedBy Shangguan Zhoudong (chinadaily.com.cn)
Updated: 2007-08-02 16:51 The Chinese government drafted a measure on housing registration and has began soliciting public comments on it, according to the Ministry of Construction, the Shanghai Morning Post reported today. The measure standardizes housing registration throughout the country and protects pre-sale house buyers' rights and interests. According to Chapter 5 of the measure, pre-sale house buyers can register their houses in advance, which blocks house registration authorities from transacting the houses without consent in written form. House ownership transfers, house mortgages, purchases of pre-sale houses, and pre-sale house mortgages can be registered in advance, according to the draft measure. The changes may prevent real estate developers from selling one house to multiple consumers and mortgaging pre-sale houses to banks to get loans. Garages, club buildings, and other auxiliary facilities collectively owned by all house buyers in a community can also be registered, according to the measure. Registration of house ownership can be completed in 30 workdays, and registering other things such as the pre-sale and amendment can be finished in as few as 10 workdays, according to the draft measure. |
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