To facilitate the tendering of inherited land for which registration of change has not been applied for within the time limit, the National Property Administration has commissioned the Taiwan Financial Asset Service Corporation (hereinafter referred to as TFASC) to handle public tendering since 2014. As of the end of 2020, there have been 4,021 successful real estate auction cases worth more than NT$3.7985 billion. The TFASC has set up the “NPA section” on the company website for the business of the aforementioned commissioned real estate tenders.
The National Property Administration says that in accordance with the Article 73-1 of the Land Act, where the registration of change on any inherited land or constructional improvement thereon has not been applied for after one year following the inheritance, the competent Land Administration Agency shall publicly announce that the inheritors shall apply for the registration of change within three months. The concerned Land Office may take over the management of the said land for no more than 3 months and make a detailed statement in tabulated form on the case, if the inheritors fail to apply within the said time limit. If the registration of change of the inherited land or constructional improvement still has not been applied for after 15 years, the concerned Land Office shall transfer them together with a list to the National Property Administration for public tendering. A special account shall be set up in the National Treasury to keep the proceeds from the sale by tender and the inheritor may withdraw his lawful share accordingly. The tender information will be announced on the TFASC official website irregularly. We welcome people from all industries to take part in the tenders.
Press Release Contact: Chen, Shu-Yun, Section Chief
Contact Number: 04-23025353 ext. 1301