To protect the interests of inheritors and of the holders of preferential right, the Legislative Yuan amended Article 73-1 of the Land Act (the “Article”). In addition to stating that land offices shall notify inheritors for inheritance registration in writing, the announcement period for sales by tender was extended from 30 days to three months, and the period for the holders of preferential right to express their intention for preferential right after the awarding of tenders was extended from ten days to 30 days. The Article was implemented on June 24, 2022, and the National Property Administration has adopted relevant measures accordingly.
According to the statistics of the Ministry of the Interior, as of December 31, 2021, there were approximately 120,000 pieces of land, with an area of approximately 4,414 hectares in total (about the size of 170 Da’an Parks), at the expiry of their tabulation management period which were transferred to the National Property Administration for sale by tender. There were approximately 720,000 pieces of land under the management of land offices, with an area of approximately 17,000 hectares (about the size of 655 Da’an Parks).
According to the National Property Administration, its branches engaged Taiwan Financial Asset Service Corporation (the “TFASC”) to perform the sale by tender of lands or improved object of building with no past due inheritance registration. As of July 31, 2022, there were 24,344 targets listed for tender, 6,025 targets tendered, with a ratio of approximately 25% for tendering and an amount of over NT$5,454,970,000, which was deposited into a special account in the National Treasury for inheritors to apply for retrieval, according to the requirements. To avoid law and regulation application disputes during the transition period from the former provisions to the new provisions, the Administration dispatched a letter to request the Ministry of the Interior to clarify the applicable laws and regulations after passing the Articles at the third reading of the Legislative Yuan,. In addition, the Administration the announcements, bidding notice, and other documents for sales by tender according to the requirements of the new provisions, and required branches to notify TFASC when arranging announcement matters according to the requirements of the new provisions after the implementation of the Article.
Furthermore, according to the National Property Administration, the extension for the announcement period of sales by tender and the period for expressing the intention of preferential right is beneficial for inheritors, legal users, or other joint owners to evaluate the participation in tenders. Targets of sales by tender organized TFASC, engaged by branches of the National Property Administration, were announced for release according to the amended requirements. Potential bidders may visit the Citizen Service Website of the National Property Administration (Tender Information – Consigned Tender Information) or the website of TFASC to inquire about tender information. All sectors are welcome to participate in the tenders.
Contact person of the press release: Division Chief: Chen, Shao-Min
Tel.: +886-27718121 ext.1251