Real Property Law in South Korea

Introduction

Real property law in South Korea governs the ownership, use, and transfer of land and buildings. The legal framework addresses estates in land, registration, and conveyancing.

Estates in Land

Civil law recognizes ownership (dominium) as the primary property right, with limited real rights including servitudes, usufruct, and mortgages.

Land Registration

A land registry system records ownership and encumbrances, with registration providing publicity but not conclusive title.

Transfer of Land

Transfer of land requires a written contract and registration of the transfer. The purchaser must investigate title and ensure the vendor can prove ownership.

Conclusion

Real property law in South Korea provides certainty in land ownership and transfer, supporting economic activity through a reliable system of property rights.