Ministry of the Interior: Gradually Improves the Real Estate Transaction Registration System and Establishes a Consensus
On May 23, the Internal Administration Committee of the Legislative Yuan reviewed and approved the draft amendment of the Equalization of Land Rights Act to transfer the responsibility of real estate purchase information registration to the buyer and seller, and the Ministry of the Interior is grateful. Regarding other improvement plans for the real estate transaction registration system, the Ministry of the Interior will continue to communicate with all parties and implement the ideas in phases to make the real estate transaction information more immediate, transparent, and correct.
The Ministry of the Interior indicated that yesterday, the Internal Administration Committee of the Legislative Yuan has reviewed and approved the draft amendment to Articles 47, 81-2, and 87 of the Equalization of Land Rights Act proposed by Council Member Hung-Lu Chang and 17 others. The goal is to transfer the responsibility of the sale and purchase registration to the buyer and seller, and impose different penalties according to the severity of false declaration. The direction of revision is in line with the proposal submitted by the Executive Yuan to the Legislative Yuan in May 2018. The Ministry of the Interior is pleased that the Legislative Yuan is in agreement. It will actively communicate with all walks of life in the future, strengthen the consensus step by step, and gradually implement the relevant amendments.