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Real estate transactions, etc.
 Real estate transactions, etc.

A Korean with a foreign nationality who reported a Korean address shall have equal rights with a Korean national in the acquisition, possession, utilization, and disposal of real estate in the Republic of Korea, except for military base and installation protection areas and such.



Foreigners and Korean nationals residing abroad shall make a real estate registration when acquiring and disposing of real estate in the Republic of Korea.



Foreigners and Korean nationals residing abroad who do not have a resident registration number shall acquire a registration number for a real estate registration to make a real estate registration. Nevertheless, a Korean with a foreign nationality who reports a Korean address may use the report number of the Korean address instead of a registration number for a real estate registration.



In case where a Korean with a foreign nationality who has made a report of a Korean address disposes of by sale or registers in his real name within one year of the entry into force of the 「Act on the Immigration and Legal Status of Overseas Koreans」 the real right of real estate, which is registered or is subject to being registered in the name of a title transferee under an agreement of title transfer prior to the entry into force of the 「Act on the Registration of Real Estate under Actual Title Holder's Name」, the effect of the agreement of title transfer, etc. shall not be rendered invalid and penalties and forced performance charges shall not be imposed.



Where a Korean national residing abroad intends to receive a certificate of seal impression, only in cases where it is clear that he does not have an address in the Republic of Korea, he may report his seal impression to the certifying agency with jurisdiction over the last address he had in the Republic of Korea, if he had one, or to the head of the certifying agency having jurisdiction over the place of register if the certifying agency with jurisdiction over the last address is unknown. A person who made a foreigner registration or a report of a Korean address and intends to receive a certificate of seal impression shall report his seal impression to the certifying agency with jurisdiction over the place of sojourn in advance.
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