What is the Registration of Mortgage of Property Attached to Land Formed in the Future? Is it Mandatory to Register Security Measures when Mortgaging Land Use Rights?
What is the registration of a mortgage on future assets attached to land?
According to Clause 4, Article 3 of Circular 07/2019/TT-BTP, the registration of a mortgage on future assets attached to land is the act of the Land Registration Office recording information about the mortgage of future assets attached to land into the cadastral book or the mortgage registration book of future assets attached to land.
To be specific, pursuant to Clause 2, Article 3 of Circular 07/2019/TT-BTP, future assets attached to land include:
- Houses and construction works that are under investment construction and have not yet been accepted for use, including: houses and construction works in housing investment construction projects, separate houses as stipulated by the Housing Law; other construction works as stipulated by the law on investment, real estate business, and other relevant laws;
- Production forests as planted forests, perennial trees that have not yet been formed or have been formed but the mortgagor establishes ownership after the time of establishing the mortgage contract.
What is the registration of a mortgage on future assets attached to land? Is it mandatory to register a secured measure when mortgaging land use rights? (Image from the Internet)
Is it mandatory to register a secured measure when mortgaging land use rights?
Pursuant to Clause 1, Article 25 of Decree 99/2022/ND-CP, the regulations are as follows:
Cases of registration under the authority of the Land Registration Office
1. Cases that must be registered:
a) Mortgage of land use rights;
b) Mortgage of houses, other properties attached to land in case the properties have been granted ownership certificates on the Certificate of Land Use Rights;
c) Mortgage of housing construction investment projects, construction works that are not houses, agricultural investment projects, forest development projects, and other investment projects using land concurrently with the land use rights granted by the State with land levy payment, or land lease in the form of one-time payment for the entire lease period;
d) Registration of changes, cancellation of registration for the cases specified in points a, b, and c of this clause.
Thus, according to the above regulations, mortgaging land use rights is one of the mandatory cases for registering a secured measure.
How to register a secured measure with land use rights and properties attached to land?
According to the guidelines in Decision 2546/QD-BTP in 2022 on the procedure for registering a secured measure with land use rights, properties attached to land are as follows:
- Submit the application to the Land Registration Office - Department of Natural Resources and Environment, Branch of the Land Registration Office (hereinafter referred to as the Land Registration Office);
In cases where the application for registration of land use rights, properties attached to land is submitted through the Administrative Procedure Receiving and Returning Department, the Provincial Public Administration Service Center, the commune-level People's Committee, the time to resolve the application is calculated from the point at which the Land Registration Office receives the valid application.
- If there are no grounds for refusal, the Land Registration Office accepts the valid application, processes the application, and returns the results.
What is the time limit for resolving the registration of secured measures with land use rights and properties attached to land?
- Within the working day the valid application is received; if the application is received after 15:00 on the same day, the registration can be completed on the next working day.
In cases where the registration authority has a justifiable reason for extending the time to resolve the registration application, the time limit for resolving the application should not exceed 3 working days from the day the valid application is received.
- In cases where the application for registration of land use rights, properties attached to land is submitted through the Administrative Procedure Receiving and Returning Department, the Provincial Public Administration Service Center, the commune-level People's Committee, the time to resolve the application is calculated from the point at which the Land Registration Office receives the valid application.
- Time not included in the time limit specified in Clause 1, Article 16 of Decree 99/2022/ND-CP includes:
+ Time during which natural disasters, epidemics, fires, online registration system incidents, power grid failures, internet network failures, or other force majeure events occur according to documents or decisions of competent authorities leading to the registration authority being unable to perform the registration as per the procedures and time limits stipulated in Decree 99/2022/ND-CP.
+ The time the registration authority performs the procedures specified in Clause 2, Article 35 of Decree 99/2022/ND-CP.
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