Real Properties Transactions Should Fully Disclose the Mobile Phone Base Station Installments
In order for the general public to better understand the condition of the real estate they intend to buy, according to the recent announcement of the Ministry of the Interior (MOI), starting May 1, 2020, the location information of the available relay pump machine room, the water tank, and the mobile phone base stations should be clearly stated in the sales agreement for completed houses and the real-estate manual of it to keep consumers fully informed of the essential transaction information and avoid future disputes.
According to the MOI, the “Mandatory or Prohibitory Provisions of Standard Contracts for the Sale and Purchase Readily Available House” and the “Mandatory or Prohibitory Provisions of Instruction of Property” were amended in 2019. The amendments state that contractors or real-estate agencies shall fully disclose whether or not mobile phone base stations resolved and agreed upon by the owners or the management committee to be installed on the rooftop of the real estate for sale and whether or not there is a relay pump machine room or a water tank in the building. If so, the floor where the mobile phone base stations, relay pump machine rooms or water tanks are located shall be clearly stated for the purpose of giving consumers or the transaction counterparties important information on the details of the real estate, which will aid consumers and the transaction counterparties in making the right trading decisions.
In event that the real estate company is found to be in violation of the provision on matters to be and not to be stated, the public may demand the real estate company to modify the terms of the contract to ensure their own interests. In addition, pursuant to Article 56-1 of the Consumer Protection Act, the public may report to competent authorities to request the real estate company to make corrections before a given date. If corrections fail to be made after the deadline, the contractor is subject to a fine of up to NTD300,000.
Apart from the administrative obligations, deceit of substantial information while trading may constitute the revocation of the contract. Therefore, as MOI puts emphasis on the disclosure of the location of mobile phone base stations, relay pump machine rooms and water banks, the failure of disclosing such information while trading real estate may eventually result in the revocation of the sales agreement.
