Mon, Jan 27, 2014 - Page 3 News List

Land agents protest request to rescind amendment

By Loa Iok-sin  /  Staff reporter

Members of the Association of Real-Estate Attorneys, Taiwan raise their fists at a press conference in the Legislative Yuan in Taipei yesterday to protest against the Executive Yuan’s request that a recently passed amendment to the Land Administration Agent Act be reversed.

Photo: Lo Pei-der, Taipei Times

Land administration agents yesterday protested the Executive Yuan’s request to rescind an amendment to the Land Administration Agents Act (地政士法) that aims to ease their responsibility in registering real-estate sales prices.

The Legislative Yuan is scheduled to review a request made by the Executive Yuan to overturn the amended act that would allow land administration agents a second chance to revise a real estate price registration.

“When making registering real-estate sales price online, land agents must also fill 19 categories of information about the property being sold, including the surface area, the layout of the property, and the ownership situation, etc,” Association of Real-Estate Attorneys, Taiwan president Su Jung-chi (蘇榮淇) told a news conference yesterday.

“It’s understandable that we make some mistakes and need a second chance to revise the registration and it is not fair under current law that we would be fined between NT$30,000 and NT$150,000 if we make a mistake,” Su said.

Land administration agents is a job unique to Taiwan that helps sellers and buyers of real-estate handle all legal procedures involved in a transaction.

In an attempt to fight inflation of property prices, the government has required that buyers, real-estate brokers and land administration agents register the actual transaction prices of properties or face a fine.

The amended act was seen by the Executive Yuan as a loophole that could undermine the real-estate transaction price registration system.

“To voice our concerns, more than 3,000 land agents from across the country will rally outside the Legislative Yuan as it reviews the request from the Executive Yuan on Monday [today],” Su said.

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