Property Rights For China
Description
How to fill out Petition To Determine Distribution Rights Of The Assets Of A Decedent?
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FAQ
Chinese citizens are allowed to own private property by the Constitution, which includes lawful income, houses, daily necessities, tools for production and raw materials as provided by the Property Rights Law.
There is no private ?freehold? land ownership in China. All urban land in China is owned by the Chinese government and is commonly referred to as ?state-owned land.? All rural and suburban land is owned by rural collectives (i.e., local groups of farmers) and is commonly referred to as ?collective land.?
Ownership rights are protected under Article 39 of The Property Law of the People's Republic of China, which gives the owner the right to possess, utilize, dispose of and obtain profits from the real property. However, this right has to comply with laws and social morality.
So, can foreigners buy property in China? The answer is yes, foreigners are allowed to purchase property in China! The essential requirement is that you have studied or worked in China for at least one year on a residence permit. Foreigners are allowed to only own one residential property for dwelling purposes.
Because China is a socialist country, all land is either subject to government ownership or collective ownership. In principle, municipal land is subject to government ownership and land outside cities is subject to collective ownership. However, one can obtain the right to use the land.