Simple & Easy Law Info

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Move Contracting for a House www.easylaw.go.kr / Easy to find, Practical law logo

What should I keep in mind when contracting for a house?

Check the real estate register Check the location, area, and all other matters of the real estate you wish to contract and the rights relationship such as ownership and mortgage through the real estate register. What is a "real estate register"? A public ledger indicating real estates, such as land or buildings, and stating matters concerning gains and losses of real estate rights

Prepare a contract When you have found a house to move into, you need to negotiate contract terms and conditions and conclude a contract. When signing a contract, it is recommended to state the contract amount, balance due date, and special terms in the sales agreement or lease (rental) agreement to prevent possible legal disputes later on.

Report real estate transactions, etc. When you sign a real estate sales agreement or a house lease (rental) agreement, you need to report the contents of the real estate transaction or the lease (rental) agreement ① to the mayor, the head of cityㆍgun or gu where the real estate is located or ② through the Real Estate Transaction Management System website.

Register Registration is necessary to disclose changes in real rights following legal acts such as real estate sales and leases. ∙Real estate sales contract - Registration of ownership transfer ∙House lease contract - Registration of leasehold rights

For detailed legal information, please refer to 『Move』 in easylaw.go.kr.