(1) Where a transaction contract is canceled, invalidated, or revoked (hereinafter referred to as "cancellation, etc.") after a report on such contract is filed under Article 3, parties to the relevant transaction shall jointly report such fact to the relevant report-receiving authority within 30 days from the date the cancellation, etc. is finalized; provided, where one of the parties to the transaction refuses to file a report, the other party may file a report solely, as prescribed by Ministerial Decree of the Land, Infrastructure and Transport.
(2) Where a practicing licensed real estate agent has filed a report under Article 3 (3), the practicing licensed real estate agent may file a report under that paragraph (referring to filing a report jointly by the relevant practicing licensed real estate agents if a transaction has been brokered jointly), notwithstanding paragraph (1); provided, where one of the practicing licensed real estate agents has refused to file a report, the proviso of paragraph (1) shall apply mutatis mutandis.
(3) Procedures for filing a report under paragraphs (1) and (2) and other necessary matters shall be prescribed by Ministerial Decree of the Land, Infrastructure and Transport.[This Article Added on Aug. 20, 2019]