Input 2021.02.22 06:00
There is an opinion in the legal community that “for the reason of selling the lotto, it is an excessive property rights restriction, and in fact, it is an infringement of the freedom before residence to prohibit the purchase of LH or even the purchase of a third party in the event of a decline in house prices.”
According to the amendment, the mandatory period of residence depends on the type of housing site and the sale price. In the case of public housing, if the sale price is less than 80% of the sale price of the nearby house, the duty to live for 5 years, and if it is more than 80% and less than 100%, is obligated to live for 3 years. The mandatory period of residence in private residential land is 3 years if the sale price is less than 80% of the sale price of a nearby house, and 2 years if it is more than 80% and less than 100%. For example, a person who wins the pre-sale of Raemian One Bailey, Seocho-gu, Seoul, must fill the period of residence of 2 to 3 years upon completion.
If the residence is moved at least once during the obligatory period of residence, ownership of the home will be lost. According to the amendment, if a violation of the residency obligation is found, LH purchases a house at the amount of the rent (sale price) plus bank interest, and then resells it to the general public.
The Ministry of Land, Infrastructure and Transport made such an amendment to the intention that the lotto will not be available for sale in the short term and market profits will not be enjoyed. However, in order to escape the controversy over excessive property rights restrictions, if the residence becomes impossible due to special circumstances of the individual, an application for cost purchase can be made to LH.
The problem is when real estate turns into a bear market. Real estate experts often don’t think that the price of the house will fall than the pre-sale price because the rising price of the house has been going on for a long period of time, but it is difficult to assure that the house price will not fall.
An official in the real estate industry who requested anonymity said, “Everyone expected the house price to rise, but only 10 years ago, there was a time when no one bought a house and said that it was a fool to buy a house.” “The days”.
Real Estate 114, a real estate information company, surveyed 23,3395 apartments occupied in Seoul, Gyeonggi, and Incheon from August 2009 to the end of July 2012, and 55% of them reported that the current house price fell below or near the pre-sale price. It was also counted as one.
But the law is not prepared for this situation. An official from the Ministry of Land, Infrastructure and Transport said, “I have not assumed the situation where the price of the house is lower than the pre-sale price,” and said, “If the house price is lower than the pre-sale price, LH will not be able to purchase it.”
If there is no special reason prescribed by Presidential Decree pursuant to Article 57, Paragraph 2 of the Housing Act, (LH) must purchase the relevant house, but the sub-enforcement decree of the Housing Act says’The purchase of the relevant house due to bankruptcy or bankruptcy of Korea Land and Housing Corporation, or other similar reasons. This is because it says,’If it is recognized as difficult.’ An official from the Ministry of Land, Infrastructure and Transport said, “It can be seen that the decline in house prices may correspond to a special reason.”
Furthermore, if LH does not buy, it cannot be sold at a price lower than the pre-sale price in the market. When asked if it would be possible to sell a house that was refused to buy from LH for a lower market price at a price lower than the pre-sale price in the market, an official from the Ministry of Land, Infrastructure and Transport said, “There is no set policy.” There is no preparation for the case of property rights restrictions due to the fact that the revised bill was made for the purpose of recovering short-term profits from the lotto sales, and the housing decline period was not assumed.
It is pointed out that the legal community cannot avoid criticism that the draft was made by rush. If a tenant recruitment announcement is made after the 19th, there are many cases in 2023, and considering the mandatory residence period up to five years, the real estate market situation until 2028 should be expected. It means that you have to make a law in consideration.
“If the current market price is higher than the pre-sale price, you must purchase it,” said Choi Eun-mi, attorney at the law office, “If the market price falls below the pre-sale price, there is a possibility that the prostitute may go to a lawsuit against LH, etc.” did. Courts usually use the legislator’s intention as the criterion for interpretation of the law, and the legislative intention of the amendment is clear in that it is the recovery of market capitalization and the blocking of speculative demand for high-presale housing, but the phrase stipulated in the law is the first criterion. There is a need for supplementation.
Some criticize it for seriously violating the constitutional property rights, freedom of trade, and freedom of residence and transfer. Professor Kim Sang-gyeom of Dongguk University’s Law Department said, “Even if the sale price cap has been applied, the prohibition of buying and selling a house whose ownership has been transferred to an individual other than LH violates constitutional property rights and freedom of trade to the extent that it is difficult to cover even with the cause of’land disclosure’.” “In addition, if LH refuses to purchase, it can be seen as a serious invasion of the freedom of residence relocation, as it becomes impossible to move the residence.”
Experts said, “As we try to prevent side effects from regulation with excessive regulation, we have no choice but to continue to have loopholes.” Professor Shim Gyo-eon of the Department of Real Estate at Konkuk University said, “There was a problem with the sale of lotto with the upper limit on the sale price. So we have to make a breakthrough.”