Supervisory

The Land Transfer Authority shall exercise supervision over foundations, non-member institutions, and trust enterprises similar to foundations with personality with regard to the acquisition or holding of title to real property located within the country.

Consent of the Land Transfer Authority

To the extent that the purpose or beneficiary provision in the documents of foundations, establishments without members, or foundation-like trust enterprises with personality that have acquired real property is to be amended, or such an association entity is to be dissolved and liquidated, the consent of the land transfer authority must be obtained prior to the formal amendment or prior to the sale of the real property.

Duty of disclosure and submission

The land transfer authority may, within the scope of its supervision, demand from foundations, establishments without members and trust enterprises similar to foundations all information and documents that it requires to perform its duties.