The Ministry of Land and Resources has urged local land regulators to study and realize the demands put forward by the property law and implement it. This includes extending the 70-year land use right of residences and securing farmers’ interests when their lands are collected by the government.
Before the property law took effect, people who bought a residence in China had only 70 years of land use right, which raised concerns over whether owners can still live in their homes after the land use right expires.
China’s legislature body in March adopted the property law to solve the problem.
The law, which will take effect from October 1, stipulates that the land use rights can be renewed automatically after 70 years. The 247-article law stipulates that ‘the property of the state, the collective, the individual and other obligees is protected by law, and no units or individuals may infringe upon it.’
Source: Shanghai Daily