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Laws › Act on Report on Real Estate Transactions › CHAPTER IV AREAS SUBJECT TO PERMISSION OF LAND TRANSACTION

Act on Report on Real Estate Transactions — Article 20 (Legal Fiction of Authorization and Permission Granted under Other Acts)

부동산 거래신고 등에 관한 법률 제20조

(1) Where permission for a land transaction contract has been granted under Article 11 on the farmland, a qualification certificate for acquisition of farmland shall be deemed to have been issued under Article 8 of the Farmland Act. In such cases, where the head of a Si/Gun/Gu grants permission for a land transaction contract for the farmland within the rural community under subparagraph 5 of Article 3 of the Framework Act on Agriculture, Rural Community and Food Industry (limited to a green belt zone under the National Land Planning and Utilization Act in cases of an urban area under that Act), he or she shall verify whether the requirements for issuing a certificate of qualification to acquire farmland are met, and notify the Minister of Agriculture, Food and Rural Affairs of the details of such permission.

(2) Where a permit is obtained under Article 11 (4) or (5), approval seal shall be deemed to have been affixed under Article 3 of the Act on Special Measures for the Registration of Real Estate.

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