The practical implications of the unification of the real estate registration system in Korea

Abstract

Purpose – This paper aims to show the practical conditions of the unification of real estate register system in Korea. Design/methodology/approach – Literature research. Findings – Although some information improvements and benefits in transaction can be expected through the elimination of discordances between dualized registry/registration books, the unification process should consider some legal and institutional factors which have been stabilized in the Korean society. Research limitations/implications – The socioeconomic effect of unification of real estate register system, such as cost-benefit consideration, is not included in this study. As for methodology, the conceptional framework is not based on an established theory, but on the simple thumb rule. Practical implications – The unification of registry and registration system of real estate in Korea could be implemented in a way of mild delegation of tasks, without a radical restructuring of the system. The practical guideline could be found in the system of family registry. Originality/value – The possibility of implementation of unification of the real estate register system is analyzed in aspects of social institutions and legal considerations.