The Ministry of Land and Resources ("MLR") has recently issued the Interim Measures for Consulting Real Estate Registration Materials (the "Measures"), immediately effective from the issue date.
The Measures show highlights in four respects. The first is further detailing the legal consulting subjects, making clear "who is eligible to consult the registration materials". The second is clarifying the basic principles of lawfulness, convenience and efficiency, tackling the problem that "what rules" the consultation shall conform to. The third is clearly defining the "interested party" for the first time, eliminating such concerns as "what kind of interested parties are allowed to inspect the said materials" and "the extent the inspection could be conducted by eligible interested parties". The fourth is providing for measures taken to ensure the safety of real estate information and materials, solving the problem of "how to prevent the leakage of personal information". According to the Measures, a party that has a stake in the real property, as well as its entrusted agent, shall undertake not to use the real estate registration materials and information they obtain during the consultation for any other purposes, or divulge such registration materials and information, otherwise it will have to take legal consequences related to the illegal use or leakage.