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Real-transaction registration system helps reduce disputes arise from land expropriation

Yunlin County Government press release 104.11.24

Real-transaction price registration system was effectively started on 1/8/101, while the market price compensation for land expropriation by the government started on 1/9/104.

The so-called market price refers to the actual market standard transaction price, of which the main source of real estate information is collected through prices gathered from the real-transaction price registration system. The prices are then adjusted through price verification and checking mechanisms.

Land expropriation compensation is based on the referenced price from the real-transaction price registration system, and submitted to the County Land Price Evaluation Committee for a fair value opinion. The final adjusted price is then defined as the market price used in compensation assessment.

The Lands Administration Department called upon the people to file record for the sale of real estate registration once completed. Disputed from land expropriation will be reduced if The real-transaction registration system takes off, as the two are closely related.