Do I need to consult the co-owner when selling multiple ownership property in Vietnam?

Do I need to consult the co-owner when selling multiple ownership property in Vietnam? 

Article 218 of the 2015 Civil Code stipulates disposal of multiple ownership property as follows:

1. Each owner in common has the right to dispose of its share of the ownership rights.

2. Disposal of joint property shall be implemented as agreed by the owners of the property or as provided by law.

3. Where an owner of multiple ownership property sells its share of the ownership rights, the other owners of the property have the right of first refusal to purchase such share.

Such owner may sell such share to other persons if no other owner purchases within three months in the case of immoveable property, or within one month in the case of moveable property, from the date on which the other owners received notice of the sale and the conditions of the sale. The notice must be made writing and conditions for sale applying to other owners in common shall be similar to those applying to non-owners in common.

In the case where there is a sale of a share of the multiple ownership rights in breach of this regulation on priority purchase right, within the time limit of three months from the date of discovery of the breach, any one of the multiple owners has the right to request a court to transfer to it the rights and obligations of the purchaser; and the party at fault which caused damage shall be liable to compensate for damage.

4. Where one of the owners of immovable property renounces its share of the ownership rights or where such person dies without leaving an heir, its share of the ownership rights shall belong to the State, except in the case of multiple ownership between communities where the share of ownership rights shall belong to the remaining members.

5. Where one of the owners of movable property renounces its share of the ownership rights or where such person dies without leaving an heir, its share of the ownership rights shall belong to the remaining members.

6. Where all owners renounce their ownership rights with respect to multiple ownership property, the ownership rights shall be established as prescribed in Article 228 of this Code.

Thus, in case you want to sell the multiple ownership house by three brothers, you need to consult the other two, if they agree, then you are entitled to make the purchase and sale transaction in Vietnam.

Is it possible to sell a part of a multiple ownership house in Vietnam?

Article 126 of the Law on Housing 2014 regulates selling jointly-owned houses as follows:

1. Any jointly-owned house must be sold with the consent of owners; in case any joint owner does not consent to sell the house, other joint owners are entitled to request the Court to handle the house as prescribed in regulations of law. The joint owners shall acquire pre-emption rights to buy the house, if not; it shall be bought to other people.

In case there is any owner who is declared missing by the court, the remaining owners are entitled to sell that house; the share of the house held by the missing owner shall be handled as prescribed.

2. In case any joint owner sells his/her share, other joint owners shall acquire pre-exemption rights to buy it; if it is not bought by any owner within 30 days, from the day on which the notification of sale of joint ownership house and requirements for sale, it shall be sold to other people; in case there is any violation against pre-emption rights, it shall be handled as prescribed in law on civil.

According to this Article, you have right to sell the share of multiple ownership house in Vietnam, but you have priority to notify the other two people to buy first, after 30 days, the remaining co-owners do not buy. Then you have the right to sell it to someone else.

What is division of multiple ownership property in Vietnam?

Article 219 of the 2015 Civil Code provides for division of multiple ownership property as follows:

1. Where multiple ownership property is divisible, each owner has the right to request the property to be divided. If the property must be maintained within a certain period of time as agreed by all owners or as prescribed by law, each owner only has the right to request the property to be divided upon expiry of that period. Where the property is not able to be divided in kind, it shall be valued in terms of money for the purposes of division, unless otherwise agreed.

2. Where a person requests one of the owners of multiple ownership property to fulfill a payment obligation and such owner does not have private property or sufficient private property to make the payment, the requesting person has the right to request that the multiple ownership property be divided in order to receive monetary payment and such person shall be entitled to participate in the division of the property, unless otherwise provided by law.

If the shares of ownership rights are not able to be divided in kind or if such a division is opposed by the remaining owners, the requesting person has the right to request the owner with the obligation to sell to sell its share of ownership rights in order to fulfill the payment obligation.

The above is the law on division of multiple ownership property in Vietnam.

Best Regards!