New laws regarding real estate and property are to be introduced in 15 cities across China including Chengdu, Qingdao, Guangzhou, Hangzhou, Xiamen, Jinan and Wuhan.
The new reforms will push for inheritance tax and change existing title deeds for new real estate certificates. The new certificates will be different in that they will clearly detail the property rights of the holder and contain details of the mortgage holder, exact start and end dates of lease and the price of the property on acquisition.
The relevant departments in the cities are now busy preparing for the changes imposed by the new rules, which come into effect March 1 2015.
Source:Tencent
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Keywords: Property Law China
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