From August 01, 2024, what are the regulations on documents proving eligibility for owning houses in Vietnam for organizations and individuals?
From August 01, 2024, what are the regulations on documents proving eligibility for owning houses in Vietnam for organizations and individuals?
Based on Clause 2, Article 8 of the Housing Law 2023 regulating the conditions for owning houses in Vietnam, the criteria include:
Subjects and conditions for owning housing in Vietnam
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2. The conditions for owning housing in Vietnam include:
a) Domestic organizations and individuals can own housing through forms of investment in construction, purchase, lease purchase, receiving as a gift, inheritance, capital contribution, house exchange; receiving housing for resettlement purposes as regulated by law; other forms as prescribed by law;
b) Overseas Vietnamese permitted to enter Vietnam can own housing associated with homestead land use rights as prescribed by land law;
c) Foreign organizations and individuals can own housing through the forms stipulated in Clause 2, Article 17 of this Law.
Pursuant to Clause 3, Article 3 of Decree 95/2024/ND-CP, the documentation proving eligibility to own housing in Vietnam is as follows:
(1) For domestic organizations and individuals, documents proving the right to own housing must be through one of the forms specified in Clause 2, Article 8 of the Housing Law 2023;
(2) For overseas Vietnamese citizens, a valid Vietnamese passport with an entry stamp into Vietnam at the time of housing establishment stipulated in Clause 2, Article 8 of the Housing Law 2023 is required;
(3) For individuals of Vietnamese origin residing abroad, a valid passport with an entry stamp into Vietnam or an international travel document with an entry check stamp into Vietnam at the time of the housing transaction is required;
(4) For foreign individuals, a valid passport with an entry stamp into Vietnam or equivalent legal entry documentation into Vietnam at the time of housing transaction stipulated at points b, c, Clause 2, Article 17 of the Housing Law 2023 is required.
From August 01, 2024, what are the regulations on documents proving eligibility for owning houses in Vietnam for organizations and individuals? (Internet image)
What is the date of establishing property ownership in Vietnam?
According to Article 12 of the Housing Law 2023, the date of establishing property ownership is regulated as follows:
(1) In cases of direct investment in housing construction, the timing for establishing housing ownership is the completion time of the housing construction as regulated by construction law.
(2) In cases of buying, lease-purchasing housing not stipulated in (4), the timing for establishing housing ownership is when the buyer or lease-purchaser has fully paid for the housing and received the handover, unless otherwise agreed.
(3) In cases of capital contribution, gifting, or housing exchange, the timing for establishing housing ownership is when the recipient receives the housing from the contributor, donor, or exchanger, unless otherwise agreed.
(4) In cases of buying, lease-purchasing housing between the project investor and the buyer or lease-purchaser, the timing for establishing housing ownership is as regulated by real estate business law.
(5) In cases of inheriting housing, the timing for establishing housing ownership is as regulated by civil law.
(6) Other cases follow related law regulations.
(7) Housing transactions specified in (2), (3), and (4) must comply with housing transaction conditions and valid contract regulations according to the Housing Law 2023.
What are cases of recognition of the right to property in Vietnam?
Based on Article 9 of the Housing Law 2023, the recognition of the right to property is regulated as follows:
- Organizations and individuals meeting conditions and having lawful housing as stipulated in Article 8 of the Housing Law 2023 are recognized by competent state authorities through the issuance of Certificates of Land Use Rights, Housing Ownership, and other assets associated with land (hereinafter referred to as Certificates), except in cases where housing is public property.
Housing recognized in the Certificate must be available housing. The procedures for issuing Certificates to housing owners are implemented in accordance with land law.
- In the case of buying term-housing as regulated in Clause 1, Article 165 of the Housing Law 2023, the housing buyer gets the Certificate within the ownership duration agreed upon;
When the ownership duration ends, the housing ownership reverts to the seller as agreed in the contract; if the seller does not reclaim the housing when the ownership duration ends, it is handled in accordance with Article 166 of the Housing Law 2023 and other relevant laws.
- The competent authority issuing Certificates must clearly specify in the Certificate the type of housing and its class as per the Housing Law 2023 and construction law; for apartment buildings, the total floor area and usable area of the apartment must be stated;
For project-based housing, the project name approved or decided by the competent authority must be recorded.
- For project-invested housing for sale or lease-purchase, the Certificate is not issued to the real estate project investor but to the buyer or lease-purchaser, except in cases where the investor requires a Certificate for unsold or non-lease-purchased housing;
In cases where the real estate project investor constructs housing for rental purposes, the Certificate is issued for that housing.
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