What to do after 40 years of condominium ownership, what to do after 40 years of condominium ownersh

1. What to do after 40 years of apartment ownership.

1. The property right of the apartment will be automatically renewed after 40 years. It can be proposed by the owner to pay the land transfer fee, that is, to pay the difference in the cost price. Because the ownership of the house is permanent, if it is not renewed, the state will take back the land use rights, so the user can no longer use the house.

2. Legal basis: Article 359 of the Civil Code Law of the People's Republic of China.

If the term of the right to use land for residential construction expires, it shall be automatically renewed. The payment or reduction of renewal fees shall be handled in accordance with the provisions of laws and administrative regulations.

The renewal of the right to use land for non-residential construction after the expiration of the term shall be handled in accordance with the provisions of law. If there is an agreement on the ownership of houses and other immovable property on the land, it shall be in accordance with the agreement; Where there is no agreement or the agreement is not clear, it is to be handled in accordance with the provisions of laws and administrative regulations.

2. How to renew the 40-year property right apartment when it expires.

The 40-year condominium can be renewed at the end of the period as follows:

1. The 40-year property right of the apartment is for the land, and when the service life agreed in the land use right transfer contract expires, if the land user wants to continue to use the land, he shall apply for renewal no later than one year before the expiration, and shall be approved except for the need to recover the land according to the public interest. If it is renewed upon approval, a new contract for the transfer of land use rights shall be signed, and the transfer fee for land use rights shall be paid in accordance with the regulations;

2. As a relatively independent property right, the state-owned land use right is only transferred by the state to the land user within a certain period of time by way of transfer. After paying the land use right transfer fee for a certain period of time, the land user can obtain the right to use the land during that period, that is, the land use right for the corresponding period of time.

If the term of the right to use land for residential construction expires, it can be automatically renewed.

Extension of the term of land use rights. In this case, the owner of the house can jointly apply to the local land and resources bureau to pay the land transfer fee, of course, this ** should be lower than the same kind of land transfer fee**, similar to the difference between the cost price and the market price.

Under normal circumstances, there are three classifications of 40 years, 50 years and 70 years, 70 years mainly refers to ordinary residences, 50 years refers to industrial land, and 40 years mainly refers to commercial land. In fact, the property right of the house not only includes the property right of the house, but also the right to use the land where the house is located, and the buyer's right to use the house is permanent, and the so-called 40-year property right limit mainly refers to the right to use the land.

Property rights refer to the land use period, that is, land use rights, apartment property rights 40 years refer to business apartment property rights, that is, serviced apartment property rights, after the apartment has reached 40 years, the land to be renewed should be able to apply for renewal, pay the land use right transfer fee, and go through registration. If it is not renewed, the land user shall return the land use certificate and cancel the registration in accordance with the regulations.

Legal basis: Article 40 of the Interim Regulations of the People's Republic of China on the Assignment and Transfer of Urban State-owned Land Use Rights (2020 Revision) Article 40 When the land use right expires, the land use right and the ownership of the above-ground buildings and other attachments shall be acquired by the state free of charge. The land user shall return the land use certificate and cancel the registration in accordance with the regulations.

Article 41 of the Interim Regulations of the People's Republic of China on the Assignment and Transfer of Urban State-owned Land Use Rights (Revised in 2020) Land use rights may apply for renewal upon the expiration of land use rights. If it is necessary to renew the term, the contract shall be re-signed in accordance with the provisions of Chapter II of these Regulations, the land use right transfer fee shall be paid, and the registration shall be completed.

After the expiration of the 40-year property right of the apartment, the land transfer fee can be paid to renew the period, and then continue to use; If, after the expiration of property rights, the state recovers the land and above-ground buildings according to the planning needs, the state will compensate the owners accordingly and solve the problem by means similar to demolition and resettlement.

1. Extend the term of land use rights. It can be jointly proposed by the owners of the house to pay the land transfer fee, which should be lower than the same type of land transfer fee, similar to the difference between the cost price and the market price.

2. According to the planning needs, if the state recovers the land and above-ground buildings, the owners shall be compensated accordingly, and the solution shall be solved by similar demolition and resettlement. According to the current relevant regulations of the state, after the expiration of the land, the payment shall be made according to a certain proportion according to the guidance of the floor and raw land at that time.

1.The total price is low, and the usable area is large

One of the biggest advantages of loft apartments is the low total price and large usable area, which is why it is so popular with buyers. Developers often use the banner of "buy one floor and get one floor free", which is calculated according to the construction area of one floor, but the usable area is twice the sales area, which will make many buyers have the illusion of "picking up a bargain".

2.Strong spatial plasticity:

Because the loft apartment adopts a duplex structure, it provides a creative and transformative imagination space, and users can create spaces with different functions and styles at will according to their personal preferences.

3.The advantages of superior geographical location, convenient transportation and high surrounding facilities.

Similarly, loft apartments are commercial in nature and have the advantage of unlimited purchases, which is a blessing for many young people who want to buy and live in transition.

Low annual property rights and appreciation space:

According to the provisions of the Property Law, the term of the residential use right can be automatically renewed, and after the expiration of the term of the non-residential use right, the renewal must be done in accordance with laws and regulations. In other words, when the 40-year property right expires, the land transfer fee needs to be paid, and the payment method and amount are still unknown.

In addition, compared to residential buildings, loft apartments have less room for appreciation.

2.Can't settle down:

In the era of the great development of China's property market, many people have purchased the real estate they need, but whether it is an apartment building or a residential building, or an office building or a shop, there will be an expiration day. What happens after 40 years of ownership? This is also a problem that plagues many home buyers, let's find out together.

1. Automatic renewal of land use rights.

There have always been some rumors among the people that China's land belongs to the state, and the state will take it back without compensation after the property rights expire. In fact, this is just the idea of people who do not understand the common sense of the law. Article 149 of the Property Law provides:

If the term of the right to use land for residential construction expires, it shall be automatically renewed. In accordance with the relevant laws and regulations, the parties concerned may apply for renewal after the expiration of the land use right, and after the approval of the relevant units, the party who has been granted the renewal may re-sign the land transfer contract, pay the transfer fee of the land use right and go through the corresponding land registration procedures, but China's law does not currently provide for the payment of relevant fees.

2. There is no time limit for the ownership of the house.

There are "two certificates" for the property rights of Chinese people, namely "house ownership" and "land use rights". "House ownership" is something that the owner of a house can own in perpetuity and without a term of time. According to the nature of the property rights of the house, the formulation of relevant laws and regulations in China varies from 40 years, 50 years and 70 years respectively, and can be renewed after the expiration of the relevant procedures and the payment of relevant fees.

3. Pay the land transfer fee.

After the expiration of 40 years of apartment property rights, the state allows the extension of the land use period, and the owner or the owner of the house can jointly submit an application to pay the land transfer fee. The land transfer fee paid will generally be much lower than that of the same type of land transfer fee, as long as the difference between the cost price of the land and the market price is paid. The time limit for re-applying for land use rights will generally not exceed 30 years.

If it is necessary for the large-scale development of the country, when the land and buildings are recovered, the owners will be compensated in full for similar demolition and resettlement.

Second, what should be paid attention to in the property rights of apartments.

1. The tenure of commercial housing construction is 40 years.

According to the Constitution of the People's Republic of China, land ownership belongs to the state and collectives, and is a land use right transferred by the state to institutions, organizations and individuals. According to the type of land development and use, it is divided into industrial building land, commercial building land and civil residential construction land, etc., different building land types have different land use years, commercial building land use authority is generally 40 years, civil residential building ownership period is 70 years.

2. The maximum land use period for commercial and residential buildings is 50 years.

In most cases, the property rights of condominiums are commercial and residential buildings in the nature of commercial properties, and the land is generally of a public nature, so its maximum land use period is 50 years. Some apartment land has been hoarded for a long time and has not been developed for various reasons, so when buying this type of apartment, you must pay attention to its remaining land period, so as not to use the land for more than 10 years after the property is purchased.