With the new Land Registration Measures introduced in February the PRC Ministry of Land Resources is making a huge step towards bringing clarity and buyer protection to what has, over the last two decades, become a complicated and confusing procedure for the registration of property. In its enthusiasm to bring about constructive change, however, the central government may find its announced implementation of the new Measures to be a bit ambitious.
The real estate and construction industry is one that has gone through many changes recently, and the government has made various attempts to control certain aspects of it with changes to the regulatory environment. Will investment in China continue in this industry and will the law evolve alongside it, or are new changes imminent? China Law & Practice takes a closer look at the field, what the lawyers have to say, and what the future will bring for China.
The Measures stipulate that land registration shall be carried out jointly by the concerned parties, except in specified circumstances where a single party may make an application.