Real-Residency Grace Period for Land Transaction Permit System Extended Until the End of Next Year

The grace period for the actual residency obligation applied when homeless buyers purchase houses with tenants in land transaction permission zones has been extended until the end of next year.

The grace period, which was originally set to expire at the end of this year, has been extended by one year.

In addition, the grace period, which was previously recognized only for the remaining lease term of the tenant, will now be extended for an additional period of up to two years, covering one lease renewal contract as well.

This additional extension is a follow-up measure resulting from the inclusion of measures to induce short-term home sales in the August 3 tax reform plan.
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