Abstract

This study aims to derive the shortcomings and to enhance the pre-construction apartment sales and assignment system in Korea through a comparative analysis of the Canadian system. In particular, all the element of the new home warranty insurance should be in the arms reach of the public and be detailed. As a result, the recruitment advertizement differs depending on the social environment of each country. The developers have responsibilities and obligations to recruit, but the assignment is legally prohibited in Korea. The resale of the right to occupancy or move-in the pre-construction apartment still exists and some of real estate agents were said to be arrested because of the illegal assignments. It needs that the assignment be allowed with the proper procedure including the Agreement form be prepared by the company and be signed by both the assignor and assignee and the real estate agents(if needs) as well, and to be approved by the developer. The gain shall be exposed and subjected to the special income tax. With respect to the new home warranty, the warranty company should prepare guideline booklets in order for the ordinary people can review and understand what components and works are included in the new home warranty programs.

Full Text
Published version (Free)

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call