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Content and Problem of Development Profit Redemption in Case of Housing Re development

  • Public Land Law Review
  • Abbr : KPLLR
  • 2005, 25(), pp.81-100
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

Dongsoo Lee 1

1대구가톨릭대학교

Accredited

ABSTRACT

The re-development profit can be defined as the profit made by the landlords or the owners of the structures in cases of house re-development. The government considers the profit as being windfall income and attempts to retribute if by redempting it. Some important ways of redistribution of developmental profit discussed are as follows: First, a fixed rate of small-sized housing must be built for the lower brackets of income. Second, a fixed rate of rental housing must be built. Third, the conveyance of the status of the landlords or the owners of the structures must not be permitted. Fourth, the re-developmental housing can be distributed only after the construction reaches at more than 80% completion. However, some suggest different opinions regarding these governmental restriction for the following reasons. First, the idea is against the capitalistic constitutionalism which is based upon the rights of private property and the order of market economy Second, the control not only can be against the principle of legislated taxation, but also maybe regarded as a double taxation. In short, the government should establish a policy which will harmonize the sense of public duty of the re-development and the profit of the landlords.

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