What should I do when the property right of the house expires?

According to the relevant regulations of our country, when the house property right expires, the land use right of residential construction land can be automatically renewed on the house on the land. If there is ownership, it will be implemented in accordance with relevant agreements. If there is no agreement or the agreement is not clear enough, it shall be handled in accordance with the laws and regulations at that time. Simply put, a 70-year-old civil house will be automatically renewed after its expiration. Only the owners need to pay a small amount of land transfer fees to continue living. It is the land use right that expires, not the ownership of the house.

If the land use right of the purchased house is commercial or industrial land and needs to be renewed one year before its expiration, the state will consider whether to recover the land use right according to the public interest. If the renewal is allowed, it will be approved, and the land use right transfer contract will be re-signed, and the land transfer fee will be paid according to the relevant regulations. The price of land transfer fees will be lower than that of similar land transfer fees. If the land needs to be recovered, the owner can also get corresponding economic compensation.

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