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Procedure3(v) Photocopy of the identification card of the individual authorized to handle theactual procedures, and the original copy of Power of Attorney.Parties pay registration feeTime to complete:1 dayCost to complete: CNY 300Comment:Procedure4The registration fee is paid at a separate window from that where one picks up thenew title.Parties pick up new title certificateTime to complete:Cost to complete:1 dayno costComment:After paying the registration fee, along with the receipt, the buyer obtains the new“Property Ownership Certificate” and the “Land Use Right Certificate” from theHouse and Land Resources Administration Centre. In Shanghai the twocertificates are obtained from the same agent, but elsewhere in China the agenciesmay be separate. The title transfer procedure will be complete upon the issuanceof the new Property Ownership Certificate and Land Use Right Certificate, and thecertificate holder thereby becomes the official owner of the premises.74