Pay attention to property rights issues: The 70-year property rights are calculated from the time the developer acquires the land.

Buyers are generally exposed to the concept of property rights when purchasing commercial housing. For house buyers, they will generally inquire about the nature of the land and the life of the land before purchasing a house, but they are not sure how many years are left on the land. But lack of attention. The remaining useful life of land is an unfamiliar concept to some home buyers, but it is an issue that cannot be ignored.

Land use rights refer to the rights to possess, use, benefit from and limited disposal of state-owned land or collective land that units or individuals enjoy in accordance with the law or in accordance with agreements. The land use rights obtained are limited. . According to Article 12 of the "Interim Regulations on the Assignment and Transfer of Urban State-owned Land Use Rights", the maximum number of years for the transfer of land use rights is determined according to the following uses: seventy years for residential land; fifty years for industrial land; education, science and technology, culture, health, and sports. Fifty years for land use; 40 years for commercial, tourism, and entertainment land; and 50 years for comprehensive or other land use.

Nowadays, when buying a house, home buyers value the 70-year property rights and the big bonus, but many people ignore the actual remaining useful life of the house. When buying a commercial house, buyers must understand the service life of the house. This includes the number of years of the land use rights of the house itself and the number of years of the remaining use rights of the house. You cannot buy a house with a 40-year property right and can only use it for 20 years. Years, this is not worth the gain.

The 70-year property right is calculated from the time the developer acquires the land

Currently, the land use life of residential land in my country is 70 years, but this does not mean that it is calculated from the time when citizens purchase it. It is calculated from the date of land bidding. From the time the developer acquires the land to the start of construction to the time the house is completed and the owners move in, it takes at least two or three years. There are also some special situations: the developer acquires too much land and develops it in phases, so the life of the houses developed later will be shortened; after the land was acquired by the developer, construction has not started due to various reasons, and it has even been dumped many times. The development was started only after more than ten years had passed. After the completion of the project, the right to use it would be gone for more than ten years. According to analysis by industry insiders, it is normal for the service life of a house to shrink by 3-5 years, but if it shrinks for more than 10 years, there is a problem.

In order to avoid damage to the interests of home buyers, when buying a house, buyers should read clearly the "State-owned Land Use Certificate" of the property, the date of issuance of the certificate and the date of land termination, so that they can know the real property rights of the property. and how much life is left on the home.

According to the provisions of my country's "Property Rights Law", when the right to use land for residential construction expires, it can indeed be automatically renewed. Article 21 of the "Urban Real Estate Management Law" also stipulates: If the number of years agreed in the land use right transfer contract expires and the land user needs to continue to use it, he shall apply for renewal at least one year before the expiration, unless it is based on social public welfare** *If interests require the resumption of the land, approval shall be granted. If it is renewed, a new land use right transfer contract should be signed, and the land use right transfer fee should be paid in accordance with regulations. Although the current law stipulates that land use can be renewed upon expiration, the above provisions do not clearly define the standards and methods for payment of land use fees for renewal.

Can I buy a house with a 40-year property right?

After buying the 40-year property rights from the developer, you do not actually own the house for 40 years. The property rights need to be renewed after the expiration of the property rights.

A 40-year property right house is not a small property right house or an illegal building, and can be purchased normally. The property rights mentioned here refer to the land use period, which is the 40 years stated on the land use certificate. Under normal circumstances, 40-year property rights are for commercial, tourism, and entertainment land. The water and electricity bills for residents of this type of house will be based on commercial standards, which are higher than the electricity and water prices for ordinary residents.

Buyers must understand the age of the house when purchasing commercial housing. If you cannot buy a house with a 40-year property right, it can only be used for 20 years. This is not worth the loss. In addition, when selling houses, developers should also explain to customers the specific useful life of commercial houses.

Extended reading

Land use rights refer to the rights to possess, use, benefit from and limited disposal of state-owned land or collective land that units or individuals enjoy in accordance with the law or in accordance with agreements. The land use rights obtained are limited to a certain period of time.

The period for which land users enjoy land use rights is limited to the year of transfer. The transfer period is stipulated in the transfer contract, but shall not exceed the maximum number of years specified by law.

House ownership, also called house property rights, is the right of the house owner to exclusively control the house he owns. A house owner may, within the scope prescribed by law, exclude the interference of others and possess, use, benefit from, and dispose of all his houses. There is no time limit on home ownership.

(The above answer was published on 2016-06-28, please refer to the actual current relevant house purchase policies)

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