Advising a U.S. resident on Korean and U.S. legal procedures for gifting real estate in Korea

In a matter involving a gift, made from the United States, of real estate located in Korea, we advised on the legal requirements for gifting Korean real estate and the related procedures between Korea and the United States.

The main points of review were the regulations and permits that might be required under Korean law to gift real estate located in Korea, how to execute the gift agreement, and the procedure for using legal documents prepared abroad in Korea.

We reviewed the regulatory checks and permit procedures required for gifting Korean real estate, and the legal process running from preparation of the gift agreement and power of attorney, through notarization and apostille in the United States, to registration of the transfer of title in Korea.

We also set out the work required at each stage and the roles of the relevant professionals and agencies, and advised on how to proceed.

We reviewed the legal requirements and procedures for a real estate gift spanning Korea and the United States, and advised the client so that they could decide whether to proceed with the gift and what steps would be needed.

Related U.S. practices: Korea Services