Socialist Republic of the Union of Myanmar
State Council
Laws restricting the transfer of immovable property
[1987 Pyithu Hluttaw Law No. 1]
Yangon 1348 2 days after the full moon
(March 16, 1987)
The following law is promulgated:
The Pyithu Hluttaw enacted the following law.
Chapter 1Name and definition
1. This law must be called Laws Restricting the Transfer of Immovable Property.
2. The following expressions contained in this Law shall have the meanings given herein:
(A) State means the Socialist Republic of the Union of Myanmar;
(B) Foreigner includes the following:
(1) law to a citizen or citizen or non-citizen,
(2) law to citizenship or citizen or citizen, victims of what a termination Revoked;
(C) Foreign-owned company means the management and control of a company or joint venture that is not in the hands of the citizens; A company or joint venture in which the majority of the citizens do not own shares;
(D) Immovable property means land, Benefits derived from land; Buildings and objects built or located on the ground; The objects installed in the building;
(E) Transfer of property; Leasing Sales Giving The terms mortgage and exchange are defined in the Transfers Act;
( F ) Giving means donating or trusting.
Chapter (2)Restrictions on immovable property
3. No one is allowed and shall not be accepted either with a foreigner or a foreign-owned company for selling, purchasing, giving, accepting as a gift or mortgaging or accepting of mortgage or exchanging or any other transfer.
4. Neither foreigners nor foreign company is allowed and shall not be accepted either with a foreigner or a foreign-owned company for selling, purchasing, giving, accepting as a gift or mortgaging or accepting of mortgage or exchanging or any other transfer.
5. Not more than once in a year for leasing an immovable property:
(A) to a foreigner or a foreign-owned company;
(B) from a foreigner or a foreign-owned company.
6. If a foreigner dies or leaves the country permanently or in the event of deportation or deportation, the relevant Ministry may, in respect of each case, scrutinize and manage the immovable property owned by that foreigner in accordance with the following procedures:
(A) granting inheritance in accordance with the law;
(B) confiscation as public assets.
7. According to sub-section (a) of section 6, if the relevant ministry decides to grant the inheritance, who shall inherit the immovable property by mutual agreement between the successors in accordance with the decision of the court and the relevant inheritance law.
Chapter 3Registration
8. A foreigner or a foreign-owned company shall register its immovable property in the State in accordance with the procedures issued by the Township Registration Body concerning with the place where the property is located.
9. Prior to the enactment of this law, in the case of immovable property owned by a foreigner or a foreign-owned company who has stationed outside of the State, its agent shall take responsibility to register the property with the Township Registration Body in accordance with the procedures.
10. The Township People's Council Executive Committee shall investigate in accordance with the procedures whether the registration under section 8 or section 9 is correct or not.
Chapter 4Penalties
11. Whoever is convicted of violating any provision of section 3 or section 4 shall be punished with imprisonment for a term of not less than three years and not more than five years and the immovable property covered by the offense shall be confiscated as public property.
12. Whoever is convicted of violating the provision of section 5 shall be liable to a fine not less than three times the agreed rent for the lease period and the immovable property covered by the offense shall be confiscated as public property.
13. Failure to register immovable property under section 8 or section 9 or an investigation by the township people's executive committee under section 10 found that it was incorrect or withheld shall result in imprisonment of at least one year to a maximum of three years and immovable property covered by the offense shall be confiscated as public funds.
Chapter (5)General
14. Foreign diplomatic organizations with diplomatic relations with the State, UN agencies or any other organization or any individual may be exempted from the provisions of this Law by the relevant Ministry.
15. The provisions of this law shall not be applied to companies or organizations that have entered into contracts for the benefit of the State.
16. Before the enactment of this Law, the Ministry assigned by the Cabinet shall review and decide on a case-by-case basis whether the contracts relating to the transfer of immovable property submitted for registration at the Deeds Registration Office should be allowed to be registered.
17. The prior permission of the relevant Ministry shall be obtained in prosecuting the offenses committed under this Law.
18. In order to implement the provisions of this Law, the relevant Ministry shall:
(A) the necessary procedures shall be promulgated with the approval of the Cabinet.
(B) necessary order; Instructions can be issued.
19. The following laws and regulations are hereby repealed:
(A) The Transfer of Immoveable Property (Restriction) Act, 1947 .
(B) The Transfer of Immoveable Property (Restriction) Rules, 1956.
(sd)
San Yu
Chairman
State Council
Socialist Republic of the Union of Myanmar
Yangon 1348 Over the full moon day of Tabaung 2
() March 16, 1987,
Ordered
Colonel Tin Hlaing Senior
Director-General
Office of the State Council
Socialist Union of Burma
