Can a lessee transfer of lease purchase agreement in Vietnam?
Can a lessee transfer of lease purchase agreement in Vietnam? What are rights and obligations of the lessee in Vietnam?
Hello. I have rented an apartment, currently due to no need to continue using it, so I want to transfer this lease purchase agreement, is it possible?
1. Can a lessee transfer of lease purchase agreement in Vietnam?
Article 36 of the Law on Real Estate Business 2014 stipulates transfer of lease purchase agreement as follows:
1. The lessee may transfer the lease purchase agreement when the application for Certificate of land, ownership of houses and property on land granted to the lessee has not submitted to competent agencies. The transfer of lease purchase agreement must be made in writing and certified by the lessor.
2. The transferee of lease purchase agreement may resume rights and obligations of the lessee. The lessor must enable contracting parties to transfer the agreement and do not collect any charges relating to the transfer of agreement.
3. The transferee shall be granted the Certificate of land, ownership of houses and property on land by competent agencies as prescribed law on land.
4. The transfer of agreement prescribed in this Article shall not be applicable to social house lease purchase agreement.
5. The Government shall provide guidance on this Article.
2. What are rights and obligations of the lessee in Vietnam?
Article 34, Article 35 of the Law on Real Estate Business 2014 stipulates rights and obligations of the lessee as follows:
Article 34. Rights of the lessee
1. Request the lessor to provide sufficient and truthful information about the building.
2. Request the lessor to transfer the building and related documents under agreement; complete the procedures for application for Certificate of land, ownership of land and property on land when the lease purchase duration expires.
3. Sublet a part of total of the building or transfer the lease purchase agreement.
4. Request the lessor to repair the building in case the building’s damage not caused by the lessee’s fault.
5. Request the lessor to pay compensation for damage caused by the lessor’s fault.
6. Acquire ownership of the building from the date on which the lessor receives payment in full.
7. Exercise other rights specified in the agreement.
Article 35. Obligations of the lessee
1. Preserve and use the building properly as specified in the agreement.
2. Pay off the total amount by the agreed deadline and method.
3. Cooperate with the lessor in completion of procedures for lease purchase by the agreed deadline.
4. Do not renovate or demolish the building without the agreement of the lessor.
5. Repair damage of the building caused by the lessor within the duration of lease purchase agreement.
6. Pay compensation for damage caused by the lessor.
7. Notify the lessor of a part or total of the building sublease; the transfer of lease purchase agreement.
8. Fulfill other obligations specified in the agreement.
According to this Article, the lessee will have the rights and obligations as prescribed above in Vietnam.
Best Regards!
