What are procedures for registration for revision of mortgaged contents in Vietnam?

What are procedures for registration for revision of mortgaged contents in Vietnam?

Pursuant to Article 16 of the Circular 07/2019/TT-BTP stipulating registration for revision of mortgaged contents in Vietnam as follows:

1. In case of multiple mortgaged assets under the same mortgage agreements registered for revision by parties to the agreements in terms of both adding and withdrawing one or some mortgaged assets that does not fall into cases of withdrawal of registration specified in Point c Clause 1 Article 21 of Decree No. 102/2017/ND-CP (e.g. withdraw 1 mortgaged plot, add 2 assets attached to land), applicants are required to only submit 1 application for revision as specified in Clause 1 Article 43 of Decree No. 102/2017/ND-CP.

2. With respect to application for revision specified in Clause 3 Article 5 of this Circular, in the applications, parties shall specify in details withdrawn assets, including following information: name of projects, project address and other information to specifically identify withdrawn assets (e.g. in case of withdrawn assets are apartments under investment projects for construction of residential houses, specify number of apartments, apartment area, number of stories, name of buildings, etc.). In case multiple apartments and constructions under the same investment projects for construction of residential houses or investment projects for construction of construction sites are withdrawn, parties shall produce list of apartments and construction sites, provide detail description namely declared information about assets withdrawn specified in this Clause.

3. In case land users already registering for mortgage of land use rights construct buildings other than residential houses on the land and wish to apply for addition of mortgaged assets, parties may request for verification of ownership of assets attached to land in advance or at the same time as applying for revision of mortgaged contents.

4. In case of changes to mortgagors and/or mortgagees due to reorganization of juridical person, debt sale or purchase, transfer of right to demand or transfer of other civil obligations as per the law, during application for revision of mortgaged contents, applicants shall submit decision or documents of competent agencies on reorganization of juridical person, contracts or other documents proving debt sale, purchase, transfer of right to demand or transfer of obligations in forms specified in Point b Clause 1 Article 43 of Decree No. 102/2017/ND-CP to replace contracts for revision of mortgage agreements.

5. In case multiple mortgage agreements share the same mortgagees and information about mortgagees is changed or mortgagees are changed due to reorganization of juridical person, debt sale or purchase, transfer of right to demand or transfer of other civil obligations as per the law, applicants shall submit 1 list of mortgage agreements that they are parties to apply for revision for all of the agreements apart from papers specified in Clause 1 Article 43 of Decree No. 102/2017/ND-CP.

6. In case applications consist of certificates specified in Clause 2 Article 97 of Land Law in 2013 and certificates specified in Land Law in 2013 are demanded, parties to mortgage agreements are not required to apply for revision of certificates in registered mortgage agreements.

After certificates are revises as per the law, land registration offices are responsible for transferring mortgaged contents from the old certificates to the new ones.

7. In case certificates list multiple mortgaged assets that have not been fully disposed by parties, apply for revision to withdraw disposed mortgaged assets.

8. In case owners of land or assets attached to land which have been registered for mortgaged wish to register for land change due to basis specified Clause 1 Article 13 of this Circular, extend land use term before terminate land use term, repurpose land or other cases according to land laws, land registration offices shall not request parties to withdraw mortgage registration prior to adopt procedures to register land change.

9. In case of changes to information about mortgagors; changes to information about mortgaged plot due to paddy reformation, change plot, measurement to redetermine size and dimension of plot, changes to conditions of other assets attached to land relative to information on certificates, parties shall confirm changes on certificates or issue revised certificates according to land laws without applying for revision of mortgaged contents. In case certificates are revised, land registration offices shall transfer mortgaged contents to the new certificates.

As regulations above, you can request for certification of ownership of assets attached to land and register for revision of mortgaged contents.

What are regulations on record of mortgaged contents in case of established off-the-plan assets attached to land have been certified for ownership in Vietnam?

Pursuant to Article 17 of the Circular 07/2019/TT-BTP stipulating record of mortgaged contents in case of established off-the-plan assets attached to land have been certified for ownership in Vietnam as follows:

1. In case of application for revision of mortgaged contents because assets attached to land have been established and request for transfer of asset ownership certification to certificates by mortgagors, land registration offices shall record in cadastral records and certificates information specifying in details that established assets attached to land have been certified for ownership and shall be used to mortgaged and ensure obligations compliance for mortgagees.

2. In case project developers adopt procedures to issue certificates for asset buyers or asset buyers adopt procedures to be issued with certificates and the assets are being mortgaged in form of off-the-plan assets while mortgagors or mortgagees have not withdrawn registration after issuance of certificates, land registration offices shall record in cadastral records and certificates information specifying in details that established assets attached to land shall continued to be used to be mortgaged and to ensure obligations compliance for mortgagees.

Best regards!