The Declaration Counter of Real Estate Transaction Information, including the relevant provisions of the Equalization of Land Rights Act, the Land Administration Agent Act, and the Real Estate Broking Management Act, was amended and promulgated on December 30, 2011 and has become effective since August 1, 2012.
Stating from August 1, 2012, all the cases applying for registration at the Land Administration Office, all the lease contracts signed by the real estate brokers, and all the buildings sold by real estate consignment brokers or construction companies are required to declare their actual transaction information.
A declarant (namely the property owner, the land administration agent, and the real estate agent) must declare the actual information to the competent authority within 30 days after the registration of transfer of ownership, the signing of a lease contract, or the expiry or termination of a consignment contract. Otherwise, the land administration agent, the real estate agent or the buyer failing to correct errors within the time limit shall be fined NT$ 30,000 to NT$ 150,000.
A declarant can come over to his/her district’s Land Administration Office to fill out the declaration form or use his/her Citizen Digital Certificate or Business Certificate to login the website of the Ministry of the Interior and make the report at the Real Estate Transaction Information System (https://clir.land.moi.gov.tw/cap/).
The information will be screened, segmented by region, and de-identified before it is published on the Real Estate Transactions Net (http://lvr.land.moi.gov.tw/N11/) of Ministry of the Interior for inquiry.
The Real Estate Transaction Information System not only makes transparent the transaction price of a real-estate property but also provides an important reference for the compensation for expropriated land. The Land Administration Bureau and its land administration offices will continue to promote this good policy and shorten the declaration time for the public. We hope to provide better services to our citizens, enhance their satisfaction towards the city government, achieve residence justice, promote transparent real estate transactions, and improve the real estate market.