06/10/2022 08:52

Disputes over mortgage contracts and related judgments in Vietnam

Disputes over mortgage contracts and related judgments in Vietnam

Hi Lawnet, My family opened a pawn shop. Recently, a customer came to hold a motorcycle, promising to pay and redeem the bike within 30 days. However, it has been 2 months since that person has not come to pay and redeem the car. Thus, I am considering going to court. Could you provide me with some similar judgments for reference? Thanks! (Ms. Ngoc Tram-Dong Thap, Vietnam)

Thank you for your question. Lawnet would like to provide you some judgments related to real estate mortgage contract disputes as below:

1. Judgment on the dispute over the mortgage contract No. 38/2021/DSPT

- Level of trial: Appellate

- Judicial body: People's Court of Phu Yen province

- Summary: Ms. H pledged to give Ms. Tr 01 motorbike to get 15,600,000 VND, and committed within 30 days to pay and receive the property back; interest rate of 0.033%/day; interest payment term of 10 days. However, up to now, Ms. H has not complied with the contract, so she asked Ms. Ho H to pay her VND 15,600,000. As for the mortgaged property, which is a motorcycle, which she is currently holding, it should be resolved in accordance with the law. She disagrees because the car's current value is insufficient to cover the 15,600,000 VND loan.

- Court's decision: Accepting Ms. Tr's request according to the petition dated June 29, 2020. Mrs. Ho H is forced to pay Ms. Tr 15,600,000 VND.

2. Judgment on property mortgage contract dispute No. 07/2021/DS-ST

- Level of trial: First instance

- Judicial body: People's Court of Tam Binh district, Vinh Long province

- Summary: Mr. H and Mrs. L went to Ms. T's house to hold a truck, the amount of which was VND 60,000,000, and did paperwork and agreed to an interest rate of 5%/month. By May 2019, the capital amount was 24,000,000 VND, without interest. The amount of interest from February 2019 to May 2019, Ms. T did not ask Mr. H and Ms. L to pay. The two still owed 36,000,000 VND, with a debt receipt dated May 20, 2019 but not yet paid. Now Ms. T asks Mr. H and Ms. L to pay the capital amount of 36,000,000 VND and the interest calculated from August 20, 2019 to December 20, 2020 is 16 months with an interest rate of 1%/month. into cash, 5,760,000 VND. Total capital and interest is 41,760,240,000 VND and requires continuing to calculate interest until the debt is paid off.

- Court's decision: Accepting the petition of plaintiff Ms. Dinh Thi T.

3. Judgment on property mortgage contract dispute No. 36/2021/DS-ST

- Level of trial: First instance

- Judicial body: People's Court of Ha Tien City, Kien Giang province

- Summary: Mr. Nguyen Tuan N and Ms. Nguyen Thi Tuyet Nh went to QK One Member Limited Liability Company to sign a contract to pledge property to borrow an amount of VND 75,000,000 at an interest rate of 1.26%/month . The mortgage term is 06 months. The form of payment is to pay principal and interest daily. The total principal and interest is 80,670,000 VND. During the performance of the contract, Mr. N and Ms. Tuyet Nh violated the debt repayment commitments. According to the petition, the company asked Mr. N and Ms. Tuyet Nha to pay the company an amount of VND 51,534,375, of which the principal debt was VND 47,911,875 and the interest was VND 3,622,500, but after comparing, Mr. and Ms. Tuyet Nha still owe 47,170,000 VND. The company would like to withdraw a part of the lawsuit claim for the amount of VND 4,364,375. The company now requires Mr. Nguyen Tuan N and Ms. Nguyen Thi Tuyet Nh to pay QK One Member Limited Liability Company an amount of VND 47,170,000.

- Court's decision: Forcing Mr. Nguyen Tuan N and Ms. Nguyen Thi Tuyet Nh to pay QK one-member limited liability company an amount of VND 47,170,000

4. Judgment on loan and mortgage contract disputes No. 124/2021/DS-ST

- Level of trial: First instance

- Judicial body: People's Court of Ca Mau City, Ca Mau province

- Summary: Ms. Huynh Thu T and Mr. Lam Binh L1 with the bank have an agreement to sign a credit contract, which is a property pledge contract, whereby the bank lends Ms. T and Mr. L1 an amount of VND 35,000,000. The loan term is 180 days, the loan interest rate is 14.96%/year, the disbursement date is March 10, 2018. The overdue interest rate is equal to 150% of the loan interest rate at the time of overdue debt transfer. To secure the loan of Ms. T and Mr. L1 as a pledge to the Honda VARIO Bank. After borrowing, Ms. T and Mr. L1 paid the bank 1,944,444 VND in capital and 143,115 VND in interest, but they did not continue to pay. Therefore, the bank filed a lawsuit asking Ms. Huynh Thu T and Mr. Lam Binh L1 to pay the bank the entire amount of temporary debt until June 17, 2021, which is VND 56,070.319; and continue to pay interest arising from June 18, 2021 until Ms. T and Mr. L1 fulfill all obligations to the bank.

- Court's decision: accepting the entire petition of Kien L. Commercial Joint Stock Bank.

Phuong Uyen
96


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