Before the transfer of land-use right expires, the transferee shall, if continuing use is desired, apply for a renewal no later than one year before the expiration date. The application for renewal should be approved unless there is a concern for public interest.
After the approval of a renewal, the transferor shall re-sign the transfer contract with the transferee. The transferee shall pay the transfer fee in accordance with the relevant regulations.
(2) In case of the expiration of a transfer of land-use rights, if the transferee doesn't apply for a renewal or the application is rejected, the land-use rights will be designated free.
After the land-use rights expires, the buildings, structures, and other accessories on the land must be disposed of in accordance with the stipulations in the contract.