New Taipei City Lists Over $537 Million in Unclaimed Properties

New Taipei City is now managing over 17.3 billion yuan ($537 million USD) in unclaimed properties, a significant sum stemming from individuals who died without heirs registering their inheritance. As of August 1, the city's land administration bureau has officially listed these assets, which encompass 11,239 land parcels and 670 buildings belonging to 1,956 deceased persons.

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The total area of these unclaimed lands spans 230.57 hectares. Among them, eight land parcels are valued at over 100 million yuan each. The most valuable single property is a residential plot near the MRT Xuhui Middle School station in Sanchong District, approximately 495 ping (about 1,637 square meters) in size and valued at 300 million yuan.

The total area of these unclaimed lands spans 230.57 hectares. Among them, eight land parcels are valued at over 100 million yuan each. The most valuable single property is a residential plot near the MRT Xuhui Middle School station in Sanchong District, approximately 495 ping (about 1,637 square meters) in size and valued at 300 million yuan.

According to city officials, these properties will be managed for 15 years. If no heir comes forward to claim them within that period, the land and buildings will be publicly auctioned by the National Property Administration under the Ministry of Finance. Any proceeds from the auction will be held for 10 years, after which they will be transferred to the national treasury if unclaimed.

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According to the "Land Law" Article 73-1, land and buildings that have not been registered for inheritance for more than one year from the date of inheritance shall be publicly announced for three months and heirs shall be notified to apply for registration as soon as possible. If not handled after the announcement period, they shall be managed by the land administration agencies of the direct municipalities, counties, or cities for 15 years. After the period expires, they shall be transferred to the National Property Administration of the Ministry of Finance for public auction. The proceeds shall be kept for 10 years, and if no one claims them, they shall be returned to the national treasury.

The New Taipei City Government's Land Administration Bureau is reminding potential heirs of their rights and obligations. They emphasize that inheritance rights are gender-neutral and that all children have both the duty to support their parents and the right to inherit property. For situations where numerous heirs make agreement difficult, the law allows one or more heirs to represent the entire group in registering the property as co-owned. This can be followed by a formal division of inheritance later, safeguarding their rights and avoiding penalties for late registration.

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Children's support for parents and property inheritance have no gender differences according to the Civil Code. Both genders have the duty of support and the right to inherit property.