China's New Property Law: Practical Issues
The new Law provides a comprehensive framework for the protection of property rights for both foreign and domestic parties. Clarity of title and stability of property rights will be easier to attain.
Date:
June 2007
Keywords (click to search): [real estate] [chattels] [land registration] [priority] [land ownership] [immoveable property] [estate] [leasehold] [personal property]
By Huen Wong and Adam Arkel of Fried, Frank, Harris, Shriver & Jacobson LLP
At the close of the fifth session of the tenth National People's Congress (NPC) on March 16 2007, the People's Republic of China (PRC) enacted into law a comprehensive framework for the protection of real and movable property rights. The PRC Property Law will take effect on October 1 2007 and is widely hailed as a significant step forward in China's legal and economic development. It will apply to all individuals and corporations foreign and domestic with property interests in China. What are the practical implications of the Property Law for the business and legal community?
Registration of real property
A key practical benefit of the Property Law is that, by establishing national standards for property registration, it will facilitate efforts by current and prospective holders of real property to establish clarity of title. Obviously,...
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