ENFORCEMENT DECREE OF THE HOUSING LEASE PROTECTION ACT
Presidential Decree No. 20971, Aug. 21, 2008
The purpose of this Decree is to prescribe matters delegated by the Housing Lease Protection Act and matters necessary for the enforcement thereof.
[This Article Wholly Amended by Presidential Decree No. 20971, Aug. 21, 2008]
The term "corporations opposing power of which is recognized" in the latter part of Article 3 (2) of the Housing Lease Protection Act (hereinafter referred to as the "Act") means corporations under the following subparagraphs:
| 1. | Korea National Housing Corporation under the Korea National Housing Corporation Act; and |
| 2. | Local public enterprises established for the purpose of housing business pursuant to Article 49 of the Local Public Enterprises Act. |
[This Article Wholly Amended by Presidential Decree No. 20971, Aug. 21, 2008]
| (1) | A request for increase in a rent or deposit (hereinafter referred to as a "rent, etc.") under Article 7 of the Act shall not exceed the amount equi valent to 1/20 of a rent, etc. agreed upon. |
| (2) | A request for increase under paragraph (1) shall not be made within one year after a lease contract has been made or an increase of a rent, etc. agreed upon has been made. |
[This Article Wholly Amended by Presidential Decree No. 20971, Aug. 21, 2008]
The term "rate prescribed by Presidential Decree" in Article 7-2 of the Act means 14 percent per annum.
[This Article Wholly Amended by Presidential Decree No. 20971, Aug. 21, 2008]
| (1) | The extent of a specified amount of a deposit to be preferentially repaid under Article 8 of the Act shall be less than the amounts by classifications under the following subparagraphs: |
| 1. | Overpopulation control areas of the Seoul Metropolitan area under the Seoul Metropolitan Area Readjustment Planning Act: 20 million won; |
| 2. | Metropolitan Cities (excluding |
| 3. | Other areas: 14 million won. |
| (2) | Where a specified amount of a deposit of a lessee exceeds one half of the value of a house, the right of preferential repayment shall be only applicable to the amount equivalent to one half of the value of the house. |
| (3) | Where there are two or more lessees in a house, and the total sum of specified amount of each deposit exceeds one half of the value of a house, the amount having divided the amount equivalent to one half of the value of the house by the rate of a specified amount of a deposit of each lessee for the total sum of specified amount of each deposit shall be deemed a specified amount of a deposit of each lessee. |
| (4) | Where there are two or more lessees in a house, and the lessees live a home communal life in the relevant house, they shall be deemed one lessee and their deposits shall be added up accordingly. |
[This Article Wholly Amended by Presidential Decree No. 20971, Aug. 21, 2008]
Lessees who are to be preferentially repaid pursuant to Article 8 of the Act shall be lessees whose deposit is less than the amounts by classifications under the following subparagraphs:
| 1. | Overpopulation control areas of the Seoul Metropolitan area under the Seoul Metropolitan Area Readjustment Planning Act: 60 million won; |
| 2. | Metropolitan Cities (excluding |
| 3. | Other areas: 40 million won. |
[This Article Wholly Amended by Presidential Decree No. 20971, Aug. 21, 2008]
ADDENDUM
This Decree shall enter into force on the date of its promulgation.
ADDENDA<Presidential Decree No. 12283, Dec. 1, 1987>
| (1) | (Enforcement Date) This Decree shall enter into force on the date of its promulgation. |
| (2) | (Transitional Measures pursuant to Change of Scope of Small Amount of Deposits) The former provisions shall be applied to those who have ac quired security rights in the leased houses before the enforcement of this Decree. |
ADDENDUM<Presidential Decree No. 12930, Feb. 19, 1990>
This Decree shall enter into force on the date of its promulgation.
ADDENDA<Presidential Decree No. 14785, Oct. 19, 1995>
| (1) | (Enforcement Date) This Decree shall enter into force on the date of its promulgation. |
| (2) | (Transitional Measures) The former provisions shall be applied to those who have acquired security rights in leased houses before the enforcement of this Decree. |
ADDENDA<Presidential Decree No. 17360, Sep. 15, 2001>
| (1) | (Enforcement Date) This Decree shall enter into force on the date of its promulgation. |
| (2) | (Transitional Measures) The previous provisions shall be applied to those who have acquired security rights in leased houses before the enforcement of this Decree. |
ADDENDUM<Presidential Decree No. 17627, Jun. 19, 2002>
This Decree shall enter into force on June 30, 2002.
ADDENDUM<Presidential Decree No. 20334, Oct. 23, 2007>
This Decree shall enter into force on November 4, 2007.
ADDENDA<Presidential Decree No. 20971, Aug. 21, 2008>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Article 2 (Transitional Measures)
The previous provisons shall apply to any person who has acquired a real right granted by way of security on a leased house before this Decree enters into force.
Last updated : 2010-03-22