The 70-year property right is residential land, and the right to use residential construction land can be automatically renewed when it expires. For 40 years, the property right is commercial land, and the right to use non-residential construction land shall be handled according to the agreement. After the expiration of the house property right, the renewal fee shall be paid. The renewal fee is the land use fee, and the specific amount shall be implemented in accordance with the existing laws and regulations. Housing property right refers to the rights enjoyed by the owner of the house in accordance with national laws, that is, the sum of all the rights and interests of the house, that is, the owner's right to possess, use, benefit and dispose of the house property. Housing property right includes housing ownership and land use right. The term of house ownership is permanent, while the land use right varies from 40 years, 50 years and 70 years according to relevant laws and regulations, and it will be automatically renewed when it expires. At that time, the renewal fee 1%- 10% (that is, the land use right transfer fee) will be increased.
According to the relevant laws and regulations, land users who need to continue to use the land after the expiration of the service life stipulated in the land use right transfer contract shall apply for renewal one year before the expiration, unless the land needs to be recovered according to public interests, they shall be approved. If the renewal is approved, a new contract shall be signed and the land use right transfer fee shall be paid. The land use right transfer contract expires, and the land user fails to apply for renewal, or the application for renewal in accordance with the provisions of the preceding paragraph is not approved, the land use right shall be recovered by the state free of charge.
laws and regulations
People's Republic of China (PRC) Civil Code
Article 359 The right to use residential construction land shall be automatically renewed upon expiration. The payment or reduction of the renewal fee shall be handled in accordance with the provisions of laws and administrative regulations. The renewal of the right to use non-residential construction land after the expiration of the term shall be handled according to law. The ownership of houses and other immovable property on the land, if there is an agreement, shall be in accordance with the agreement; If there is no agreement or the agreement is unclear, it shall be handled in accordance with the provisions of laws and administrative regulations.