What is the settlement in case the buyer of house on installment dies in Vietnam?
What is the settlement in case the buyer of house on installment dies in Vietnam? My father bought a condominium and is paying in installments, my mother passed away long ago. Now my father has also unfortunately passed away, can this installment payment continue? Is it necessary to notarize the document on inheriting the house?
What is the settlement in case the buyer of house on installment dies in Vietnam?
Based on Article 125 of the 2014 Housing Law, the regulations are as follows:
1. The installment sale of housing shall be agreed by contracting parties and stated in the housing sale agreement; within the installment period, the housing buyer shall exercise his right to use the house and fulfill obligations to maintain that house, unless that house is under warranty period as prescribed in this Law or otherwise agreed.
2. The buyer buying house by installments may not conduct transactions in housing sale, giving, exchange, mortgage, or capital contribution with other person until he/she pays off the total amount, unless otherwise agreed.
During the installment period, if the buyer dies, his/her lawful heir(s) may exercise rights and fulfill obligations of the buyer, when the heir(s) pay off the total amount to the seller, they shall be granted the Certificate.
3. If the buyer wishes to return the house during the installment period and the seller agrees, both parties shall agree about the method of house return and the refund of the housing payment.
Therefore, the legal heirs of your father will continue to exercise the rights and obligations under your father's installment house purchase contract.
What is the settlement in case the buyer of house on installment dies in Vietnam? (Image from the Internet)
Is it necessary to notarize documents regarding inheritance of houses in Vietnam?
Based on Article 122 of the 2014 Housing Law, the regulations are as follows:
1. Regarding agreements on housing sale, giving, exchange, capital contribution, mortgage, or transfer of agreement on commercial housing sale, it is required to notarize or authenticate the agreement, except for cases prescribed in Clause 2 of this Article.
Regarding any agreement prescribed in this Clause, the effective date of the agreement shall be the date on which the agreement is notarized or authenticated.
2. Regarding transactions in giving houses of gratitude; sale or lease purchase of state-owned housing; sale or lease purchase of social housing, housing serving the relocation; contributed housing which one entity of contracting parties is an organization; housing lease, lending, permission for stay, or authorization of housing management, it is not required to notarize or authenticate the agreement, unless contracting parties wish to notarize or authenticate the agreement.
Regarding any agreement prescribed in this Clause, the effective date of the agreement shall be agreed by contracting parties; if the contracting parties do not agree, the effective date of agreement shall be the date on which the agreement is signed.
3. The documents on housing inheritance must be notarized or authenticated as prescribed in law on civil.
4. The notarization of housing agreement must be carried out at a notary; the authentication of housing agreement must be carried out at the People’s Committee of the commune where the house is located.
Therefore, documents regarding the inheritance of houses must be notarized in accordance with civil law regulations.
Best Regards!
