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Review on compensation of premium for redevelopment project in Public Law perspectives

  • Public Land Law Review
  • Abbr : KPLLR
  • 2009, 46(), pp.159-176
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

Heo, Kang Moo 1

1한국부동산연구원

Accredited

ABSTRACT

Premium is the well established practice in Korean property market, however there are no systematic devices to protect the tenants who paid premium. By this reason, premium compensation became the primary cause for incessant disputes during redevelopment process. The problem of premium compensation did reach the critical point where the law can not stand idle or disregard any more under the excuse that the premium is difficult for objectification. As long as premium does exist as market practice, just Compensations be enforced to achieve the genuine purpose of fair cost-bearing and protection of private property right This study, under the purpose of providing the discussion point to seek solution for premium problem and smooth operation of redevelopment projects, takes the following process: Chapter II conceptualizes and classifies Premium. Chapter III reviews concept of property right under Constitutional Law, and premium as taxable income, to discuss whether premium may be recognized as property right. Chapter IV, firstly reviews premium paid by commercial properties tenants, business compensation to commercial properties tenants pursuant to 'Act on the Acquisition of Land, etc. for Public Works and the Compensation Therefor', and then derives how to improve business compensation for commercial properties tenants' Premium.

Citation status

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