On March 26, the Ministry of Land and Resources issued the Implementing Rules of the Interim Regulations on Real Estate Registration (Draft for Comment) (the "Draft") for public comment by April 25, 2015.
The Draft defines real estate units as spatial constructions with fixed and closed ownership limits but stand-alone value in use. According to the Draft, if the matters requested to be registered conflict with the existing records of the real estate registry, or in the event of a failure to submit the proof of payments of the real estate prices and taxes as required by law or the proof of tax reduction or exemption, or if the real estate rights requested to be registered exceed the prescribed validity period, the real estate registration authority shall not grant the registration. In addition, where a mortgage or an easement has been created or an advance notice registration has been conducted in respect of a legally-registered real estate property, the owner or holder of the right of use to the property, when applying for the cancellation of its registration, shall provide a written proof of consent of the holder of the mortgage or the easement, or the right holder in the case of advance-notice registration.