It is important to confirm that the lot number in the building register matches the actual lot number.
Concept of the building register
- The term “building register” refers to a public register that contains the status of ownership and use of each building to provide information on the status of the building and its site, and the details of the structural resistance (Article 38(1) of the Building Act).
- The building register is comprised of the general building register and the collective building register. In case of a commercial building, if its owner is identified, the general building register contains the status of the building and its site, whereas if the owner is not identified, the collective building register provides the said information (Article 4 of the 「Regulations on the entry and management of the building register」.)
Perusal or issuance of a building register
- A person who intends to issue or peruse an original copy or an abstract of the building register needs to pay a fee and select parts that he/she requires from documents such as the title section of the entire page containing the title section, or the building status map, and file an application to the Autonomous Metropolitan City Mayor, the Special Self-Governing Province Governor, or the head of a Si/Gun/Gu, or apply on Jungbu24 (
https://www.gov.kr) to peruse or obtain such parts (Article 11(1), (8) and (9) of the 「Regulations on the entry and management of the building register」).
Matters to confirm in the building register
- It is important to confirm that the lot number in the building register matches the actual lot number of the commercial building before signing a commercial lease agreement.
- The special-purpose area, special-purpose district, and special-purpose zone in which the commercial building is located should be checked, and it should be checked that the business type he/she wishes to engage in is suitable for the corresponding commercial building.
- It is important to ensure that the owner entered in the building register matches the building owner specified in the register of real property.
The land location and the lot number of the building you wish to lease must match those specified in the land register.
Concept of the land register
- The “land register” refers to a public register that contains the land location, lot number, land category, and the land owner (Article 71 of the Act on the Establishment, Management, etc. of Spatial Data and Article 68(2) and Attached Form 63 of the 「Enforcement Regulations on the Act on the Establishment, Management, etc. of Spatial Data」).
Perusal or issuance of a land register
- A land register can be perused or issued by paying a visit to a cadastral authority or a Eup/Myeon/Dong office, or by filing an application on Jungbu24
(https://www.gov.kr) (Article 75 of the Act on the Establishment, Management, etc. of Spatial Data and Article 74 of the Enforcement Regulations on the Act on the Establishment, Management, etc. of Spatial Data).
Matters to confirm in the land register
- Before signing a lease agreement, it is important to ensure that the land location and lot number specified in the land register match those of the commercial building that you wish to lease.
It is necessary to identify whether the property is subject to expropriation, redevelopment or restriction on the permitted business type.
Concept of a written confirmation of land use plan
- A written confirmation of land use plan lists the details of the designation of zones, districts, etc., and the details of restricted activities in the said zones, districts, etc. to provide information on the land use and decisions made on urban planning facilities (Article 5 of the Framework Act on the Regulation of Land Use, Article 2 and Attached Form 2 of the Enforcement Decree of the Framework Act on the Regulation of Land Use).
Issuance of written confirmation of land use planning
- Inorder to have a writtenconfirmation of land use planning issued, an applicationfor the confirmation of land use planning must be filed with the AutonomousMetropolitan City Mayor, the Special Self-Governing Province Governor, or thehead of a Si/Gun/Gu, or alternatively, a written confirmation may be issued on Jungbu24 (
https://www.gov.kr) (Article 10 of the FrameworkAct on the Regulation of Land Use, Article 9 of the Enforcement Decree of theFramework Act on the Regulation of Land Use)
- The written confirmation of land use planning can be perused on Land Use Regulations Information Service (
luris.molit.go.kr).
Matters to confirm in the written confirmation of land use planning
- The special-purpose area, special-purpose district, and designation status of special-purpose zone, and accommodation availability for the relevant commercial building should be checked, as well as whether there are any restrictions in business type.
Buildings with complicated relationship of rights and duties should be avoided.
Confirmation of a register and a certificate of registered matters
- The term "register" refers to a public book that registers lands and buildings, which is available at a competent registry based on the information and data on registration that have been entered into and processed by a computerized information processing system, as prescribed by the Supreme Court Regulations, and it is classified into land registers and building registers (Subparagraph 1 of Article 2 and Article 14(1) of the Registration of Real Estate Act).
- The “certificate of registered matters” refers to a document that certifies matters as prescribed in the register (Article 19(1) of the Registration of Real Estate Act).
- Anyone may apply for the perusal of a registration history or the issuance of a certificate of registered matters by paying a visit to a registry or via Internet Registry (
http://www.iros.go.kr) by paying a fee.
Matters to confirm in the register
- Matters to confirm in section A of the register are as follows (Refer to Article 15(2) of the Registration of Real Estate Act and Article 13(2) of the Regulations on Registration of Real Estate).
· Personal information of the property owner including his/her name, address, and resident registration number must be confirmed.
· It is important to identify the existence of any foreclosures, provisional seizures, interim injunctions, provisional registration, etc., and commercial buildings with such registered encumbrances should be avoided.
- Matters to confirm in section B of the register are as follows (Article 15(2) of the Registration of Real Estate Act and Article 13(2) of the Regulations on Registration of Real Estate):
· Check whether any mortgage lien or right to lease on a deposit basis has been registered and commercial buildings with multiple registered mortgage lien or rights to lease on a deposit basis should be avoided.
· Check whether any superficies or easements have been set.
※ If you sign a lease agreement without due care despite the fact that potential issues are present in the building register, land register, and property register, you may not be able to reclaim the lease deposit when issues arise, and thus such matters should be carefully reviewed before signing the lease agreement.
※ Comprehensive information on a real property, such as the building register, land register, property register, etc., is available in the "comprehensive real estate record" (Subparagraph 19-3 of Article 2 of the Act on the Establishment, Management, Etc. of Spatial Data).