Standing Timber Act (No. 2484 Feb. 6, 1973).

The purpose of this Act is to provide for matters necessary for the registration of standing timber, the creation of mortgages thereon, etc. Independence of Standing Timber implies the following: 1) Standing timber shall be deemed immovable property; 2) The owner of standing timber may transfer the title of standing timber separately from land or may offer it as the subject matter of a mortgage; 3) The disposal of ownership of, or superficies on, the land shall not affect the rights in standing timber thereon. Registration of Standing Timber specifies the following requirements: 1) A cluster of trees eligible for registration for preservation of ownership shall be limited to those registered in the original records of registration of standing timber; 2) A person who intends to have his/her cluster of standing timber registered pursuant to paragraph(1) shall file an application with the Governor of a Special Self-Governing Province, or the head of a Si/Gun/Gu having jurisdiction over the location of the cluster of standing timber. The same shall also apply to cases where the person intends to file for modified registration of registered facts.