Legal provisions on property transfer

Where the realty service contract is terminated, the original realty service provider shall withdraw from the realty service area within the agreed period or within a reasonable period, and hand over the realty service premises and related facilities to the owners' committee.

Legal basis:

Article 949 of the General Principles of the Civil Law of People's Republic of China (PRC) terminates the realty service contract. The original realty service provider shall withdraw from the realty service area within the agreed time limit or within a reasonable time limit, return the realty service premises, related facilities and relevant materials necessary for realty service to the owners' committee, the owners who decide to manage themselves or their designated persons, cooperate with the new realty service provider to do a good job of handover, and truthfully inform the use and management of the property.

In violation of the provisions of the preceding paragraph, the original property service provider shall not require the owner to pay the property fee after the termination of the property service contract, and shall compensate the owner for the losses.