What are the requirements of houses in transactions in Vietnam from January 1, 2025 under the Law on Housing 2023?
What are the housing transactions in Vietnam?
Pursuant to Article 159 of the Law on Housing 2023, it is stipulated as follows:
Housing transactions
Housing transactions consist of sale, purchase, lease purchase, rent, gifting, swap, inheritance, mortgage, capital contribution, lending, lodging, authorization for housing management.
Accordingly, housing transactions consist of sale, purchase, lease purchase, rent, gifting, swap, inheritance, mortgage, capital contribution, lending, lodging, authorization for housing management.
What are the requirements of houses in transactions in Vietnam from January 1, 2025 under the Law on Housing 2023?
What are the requirements of houses in transactions in Vietnam from January 1, 2025 under the Law on Housing 2023?
Pursuant to Article 160 of the Law on Housing 2023, regulations on requirements of houses in transactions are as follows:
- Sale, lease purchase, gifting, swap, inheritance, mortgage, capital contribution in form of houses shall meet requirements below:
+ Certificate has been issued for the houses as per the law, except for cases under Clause 2 of this Article;
+ The houses are not subject to disputes, complaints, lawsuits regarding ownership as per the law;
+ Term of house ownership is not expired;
+ The houses are not distained for judgment implementation or compliance with legally effective administrative decisions of competent authority or not subject to temporary emergency measures or preventive measures according to decisions of the court or competent authority;
+ The houses are not subject to decisions on land expropriation, notice on clearance, demolition of competent authority;
+ Requirements under Point b and Point c of this Clause do not apply to purchase, lease purchase of off-plan housing.
- Certificate is not required in housing transactions below:
+ Purchase, lease purchase, mortgage of off-plan housing; housing sale in case of dissolution, bankruptcy;
+ Gifting of charity houses;
+ Purchase, lease purchase of the following existing houses of developers of housing investment and construction projects: public housing, social housing, housing for people’s armed forces, relocation housing that are not under public ownership;
+ Lease, lending, lodging, and authorization for housing management;
+ House inheritance.
Documents proving requirements of houses in transactions under this Clause shall conform to regulation of the Government.
- In respect of houses for lease, in addition to the following requirements, houses shall also meet quality and safety requirements for tenants, be fitted with power, water supply, water drainage system, and ensure environmental hygiene unless otherwise agreed upon by the parties.
+ Term of house ownership is not expired;
+ The houses are not distained for judgment implementation or compliance with legally effective administrative decisions of competent authority or not subject to temporary emergency measures or preventive measures according to decisions of the court or competent authority;
+ The houses are not subject to decisions on land expropriation, notice on clearance, demolition of competent authority;
What are the policies for development, management and use of housing in Vietnam?
Pursuant to Article 4 of the Law on Housing 2023 as follows:
Housing development, management, and use policies
1. The Government is responsible for implementing housing development policies, allowing everyone to afford accommodations by promoting diverse form of housing, including houses for sale, lease purchase, rent depending on demand and financial capability of individuals and families, subsidizing renovation and reconstruction of houses; the Government shall invest public investment in part or in whole (hereinafter referred to as “public investment”) in construction of social houses for lease and lease purchase.
2. The Government is responsible for creating residential land fund by approving land use planning, land use plans, construction planning, urban planning, and functioning zone construction planning.
3. The Government shall promulgate regulations and policies on planning, land, finance, credit, research, application of new science, technology, construction materials to encourage types of ownership to participate in housing development investment and encourage organizations and individuals to participate in housing development for sale, lease purchase, and lease in accordance with market mechanisms.
4. The Government shall promulgate long-term incentive regulations and policies regarding finance, land, credit with preferential interests, other incentive financial regulations, and subsidy from state fundings in order to implement social housing, apartment building renovation and reconstruction policies.
5. The Government shall develop policies incentivizing research and issuance of model design, type design of houses appropriate to area, zone, region; develop policies incentivizing development of energy-efficient housing.
6. People’s Committees of provinces and central-affiliated cities (hereinafter referred to as “provincial People’s Committees”) shall be responsible for planning, allocating land area, investing in social housing construction in accordance with this Law and other relevant law provisions.
7. The Government shall develop policies on housing management and use in order to ensure efficiency, safety, purposeful use and compliance with occupancy.
Accordingly, the housing development, management, and use policies are implemented according to the above regulations.
The Law on Housing 2023 comes into force from January 1, 2025
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