The real estate ownership certificate is the "ID card" of the resident's house, the "pass" of the resident's financing loan, and the "peace of mind certificate" of the resident's residence. According to Article 209 of the Civil Code, the creation, alteration, transfer and extinction of immovable property rights shall take effect upon registration in accordance with the lawNo registration shall be effective. According to the provisions of this article, the delay or failure to apply for the real estate title certificate is very detrimental to the protection of the rights and interests of the purchaser of the real estate.
First, the relevant rights and interests are not protected by law
If there is a dispute with others after buying a house, then even if you go to the court to sue, the possibility of winning the lawsuit is very small, not only wastes time and money, and finally your rights and interests are difficult to protect, and in the end most of the gains outweigh the losses.
Second, it cannot be traded
Although the second-hand house is cheaper than the new house, but the buyer will not casually start a property, before buying a house will usually check the seller's real estate certificate, because the second-hand housing transaction is finally based on the real estate certificate transfer standard, if there is no real estate certificate, it means that the house can not be transferred, seriously affecting the legitimate rights and interests of buyers, so no one wants to start a house without a real estate certificate. In addition, when renting out the house, it may also be affected, and if there is a conflict between the two parties, then the rights and interests of the lessor will inevitably be affected to a certain extent, which is a great loss.
Third, you can't get a mortgage
Many people will consider mortgaging their houses first and borrowing a sum of money from the bank for emergencies when they encounter difficulties in capital turnover, but the necessary premise of the house mortgage is to have a real estate property certificate, if you don't have it, then the bank will not easily lend you money.
Fourth, it cannot be inherited or gifted
When inheriting or gifting real estate, it is necessary to go through notarization procedures, but this process must inevitably show necessary materials such as real estate property certificates, otherwise the relevant departments will not be able to handle it.
Fifth, there is no compensation for demolition and relocation.
Houses without real estate property certificates, with unknown property rights, and even houses that are very likely to be built in violation of regulations, may face the risk of being demolished at any time, and when demolition, buyers cannot get compensation for demolition, and in the end they can only lose money and house, and suffer heavy losses.
Edited by Zuo Haiyan and reviewed by Gao Wenqing).
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