‘Special Act on Shared Land Division’... Ends on May 22

[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Suncheon City, Jeollanam-do, announced on the 19th that owners facing issues with shared land under buildings should hurry to apply as the "Special Act on the Division of Shared Land," which has been in effect since May 23, 2012, will expire on May 22.

The "Special Act on the Division of Shared Land," set to end in May, is a temporary law established to allow shared land with buildings that could not be divided due to various legal entanglements to be divided and registered based on the current occupancy status.

Eligible applicants are registered shared land where at least one-third of the co-owners own buildings and have occupied their shares for more than one year; this includes apartment and kindergarten sites. However, land subject to court rulings or ongoing litigation regarding the division of shared property is excluded.

To apply, consent must be obtained from at least one-fifth of the land co-owners or from 20 or more co-owners, and the division application form along with supporting documents should be submitted to the Land Information Division of the City Hall.

A Suncheon City official stated, "We have processed over 80 applications so far, but we expect many citizens still face inconveniences in exercising ownership rights and land use due to shared land," and added, "We hope people do not miss this opportunity and apply promptly."