Notice of the Office of the Wuxi Municipal People's Government on Printing and Issuing the Supervision Methods...
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Notice of the Office of the Wuxi Municipal People's Government on Printing and Issuing the Supervision Methods of the Trade Funds of the Stocking Houses in Wuxi (Trial)

 

Index No.

014006438/2017-00263

Creation date

2017-12-05

Issuing date

2017-12-07

Document No.

Xi Zheng Ban Fa [2017] No.235

Limit of publicity

Long term

Issuing department

Office of the Wuxi Municipal People's Government

Forms of publicity

On websites

Mode of publicity

Initiative publicity

Range of publicity

The whole society

Period of validity

Long term

Procedures of publicity

Publicity after being drafted by the department and approved by relevant offices

Theme (the 1st level)

Market supervision, safe production supervision -- other

Type

Notice

Key words

Economy, management, method

File download

Content summary

Notice of the Office of the Wuxi Municipal People's Government on Printing and Issuing the Supervision Methods of the Trade Funds of the Stocking Houses in Wuxi (Trial)

 

All city (county) and district people's governments, municipal committees, offices, bureaus and subordinated units,

 

The Supervision Methods of the Trade Funds of the Stocking Houses in Wuxi (Trial) has been approved by the Wuxi Municipal People's Government, is now printed and issued to you, please conscientiously implement.

 

Office of the Wuxi Municipal People's Government

 

December 5, 2017

 

The Supervision Methods of the Trade Funds of the Stocking Houses in Wuxi (Trial Implementation) 

 

Article 1 In order to further standardize the market order of the housing stock transaction, safeguard the legitimate rights and interests of both sides, guarantee the safety of the trade funds, according to the Opinions of Housing and Urban-Rural Construction Department and Other Departments on Strengthening the Intermediary Management of Real Estate and Promoting the Healthy Development of the Industry (Jian Fang [2016] No. 168), Notice of the Office of the Wuxi Municipal People's Government on Further Strengthening the Control of the Real Estate Market in Urban Areas (Xi Zheng Ban Fa [2017] No. 82) and other provisions, combine with the local reality of Wuxi, formulate this method.

 

Article 2 Roundly establish the supervision system of the trade funds of stocking houses on the state-owned lands in the urban areas (hereinafter referred to as "the trade fund supervision system").The Wuxi Housing Trade Management Center (hereinafter referred to as "the trade supervision agency") is responsible for the implementation of the supervision of the urban trade funds.

 

Article 3 The trade funds of the stocking house mentioned in this method refers to the house price settled in the stocking house trade, mainly include the initial payment, loan for purchasing a house, the currency subsidies of the economically affordable housing, and the deposit which transfers to the house purchase payment and other funds.

 

Article 4 The trade supervision agencies shall set up the special accounts for the supervision of trade funds, carry out the trade fund supervision, and the trade funds shall be separately accounted for the income and expenditure.

 

When the trade supervision agencies set up a trade fund supervision account of the stocking house, it shall get the consent of the financial department, and handle the opening, changing and canceling business of the trade fund supervision account of the stocking house in accordance with the law. The capital of the special account of the trade fund supervision shall not be withdrawn and embezzled.

 

The trade supervision agencies shall not charge any service fees for trade fund supervision.

 

Article 5 The trade supervision agencies shall establish a trade fund supervision system, and use network technology to achieve connection and information communication with banks, real estate registration departments and so on.

 

Article 6 The following housing ownership transfer situation is not included in the scope of trade fund supervision:

 

i Transfer in accordance with the effective legal document;

 

ii Housing inheritance, donation, property right exchange;

 

iii Share transfer between the house owners;

 

iv Transfer the possession of the house by auction;

 

v Be a shareholder by investing in the house;

 

vi Transfer between spouses and other direct relatives (children, parents, grandparents, material grandparents);

 

vii Other situations that do not have the condition of fund supervision.

 

Article 7 The following situations may be exempted from all or part of the fund supervision:

 

i Both sides that deal with the trade by themselves shall sign jointly the statement that they are willing to give up the fund supervision without protest;

 

ii Both the trade sides promise to first pay part of the house price for the seller to relieve mortgage state;

 

iii Other situations that can be exempted from supervision.

 

Article 8 Trade fund supervision shall be carried out according to the following process:

 

i Both the trade sides shall sign the trade fund supervision agreement of the stocking houses with the trade supervision agencies;

 

ii The buyer shall deposit the trade fund that is promissory to be supervised in the special account of trade fund supervision;

 

iii After all the promissory trade funds (including loan) of the stocking houses are into the account, both the trade parties shall apply for the registration of real estate transfer;

 

iv After completing the registration of real estate transfer, the trade supervision agency will transfer transaction funds to the seller of the stocking house according to the agreement of the trade fund supervision of the stocking house.

 

Article 9 Exemption of the fund supervision is carried out according to the following process:

 

i Situation that can exempt all or part of the fund supervision, the trade supervision agency shall witness both the trade parties to sign the Statement of Voluntarily Giving up the Fund Supervision or the Statement of Voluntarily Giving up Part of the Funds Supervision;

 

ii The trade supervision agency shall upload the information of the exemption from the supervision on the on-line signing and record system of the stocking house.

 

Article 10 Terminate the trade and relieve fund supervision

 

i Before the acceptance of the registration of real estate transfer, if both the trade sides terminate the trade after negotiation, both the trade sides shall hold the relevant materials together to the fund supervision window to handle the procedures for the removal of funds, after verification, the trade supervision agency shall transfer the trade fund in accordance with the trade fund supervision agreement of the stocking house;

 

ii If the real estate transfer registration items records before the real estate register, both the trade sides terminate the transaction, both the trade sides shall go to the real estate register agency to repeal the application of transfer registration, then go together to fund supervision service window to handle the procedures of fund supervision relieving;

 

iii If the buyer (the lender) handles the loan and the loan has been distributed to the fund supervision account, both the trade sides terminate the transaction, the buyer shall be joint with relevant parties to handle the procedures of fund supervision relieving with loan settlement certificate issued by the lending bank.

 

Article 11 If both the trade sides terminate the transaction because of the disputes, before the two parties reach an agreement, the trade supervision agency shall suspend the transfer of trade funds.

 

Article 12 The account holder of the settlement account in the agreement of trade fund supervision of the stocking house shall be the trader himself.

 

Article 13 If the transaction is completed, the transaction funds are owned by the seller; if the transaction is not completed, the transaction funds are owned by the buyer. The trade funds will be settled interest to the trade sides according to the interest rate of the bank's demand deposit at the same time during its stay in the supervision account, and the interest belonging shall be appointed by the trade sides in the trade fund supervision agreement of the stocking house.

 

Article 14 All commercial banks and related financial institutions shall cooperate with the trade supervision institutions closely, and do a good job in the trade fund supervision of the stocking house.

 

When handling the mortgage loans of second-hand housing, all the commercial banks and relevant financial institutions shall treat the Sales Contract of the Stocking House recorded in the on-line signing system of the stocking house and the evaluation report result recorded in assessment credit system of the real estate as the basis. The loan funds of the stocking house shall be transferred from the loan commercial banks or the related financial institutions to the special account for the trade fund supervision directly.

 

Article 15 The trade supervision agency shall formulate corresponding operating rules in accordance with the principles of ensuring the safety of the transaction funds and the convenience of the masses.

 

Article 16 Jiangyin, Yixing, a county-level city under the jurisdiction of Wuxi city, can combine with the local reality, implement according to this method.

 

Article 17 This method will be trial implemented from January 1, 2018.