Which agency has authority to handle auctioning winning assets that are not delivered after 5 years in Vietnam?

Which agency has authority to handle auctioning winning assets that are not delivered after 5 years in Vietnam?

Pursuant to Clause 1, Article 48 of the Asset Auction Law 2016, rights and obligations of the winning bidder:

1. The winning bidder has the following rights:

a/ To request the property seller to sign a contract on purchase and sale of the auctioned property or submit property auction results to a competent agency for approval in accordance with law;

b/ To receive, and have ownership over, the auctioned property in accordance with law;

c/ To be granted by a competent state agency a certificate of ownership and use rights over the auctioned property, for property subject to ownership or use right registration in accordance with law;

d/ Other rights as agreed upon in the contract on purchase and sale of the auctioned property and as prescribed by law.

Pursuant to Point d, Clause 5, Article 68 of Decree 43/2014/ND-CP amended by Clause 21, Article 1 of Decree 148/2020/ND-CP stipulating order and procedures for land allocation, land lease and permission for change of use purpose of land for rice cultivation, land for protection forests and land for special-use forests to other purposes are prescribed as follows:

5. For land allocation and lease through auction of land use rights, the order and procedures for allocation and lease of land with cleared ground are prescribed as follows:

a/ Based on the district-level annual land use plan approved by a competent state agency, the natural resources and environment agency shall direct the elaboration of a land use right auction plan for submission to the People’s Committee of the same level for approval;

b/ The organization selected under the approved land use right auction plan shall organize the auction of land use rights;

c/ The competent People’s Committee shall issue a decision recognizing the auction winning result;

d) After auction winners have fulfilled their financial obligations, natural resources and environment agencies shall petition competent authorities to grant certificates or sign land leases in case of land lease; organize the on-the-spot handover of land and confer the Certificates; undertake any update and revision of land databases and cadastral records.

In case where auction winners fail to make payments or make full payments according to the land use right auction plans, People's Committees at the relevant levels shall cancel the decisions on recognition of the auctioning winning results for land use rights according to regulations of laws.

In your case, the natural resources and environment agency did not allocate land on the ground and give you the Certificate. In this case, to protect your rights, you can complain that the Department of Natural Resources and Environment of the District People's Committee where you bought the land did not allocate land in accordance with the auctioning winning decision or you can initiate a lawsuit to request the People's Committee to allocate land to you. You can also claim compensation for damages if you can prove that this delay in land delivery caused damage to you according to the provisions on Compensation for damages according to the law in Vietnam.

Which agency has authority to handle auctioning winning assets that are not delivered after 5 years in Vietnam? (Image from the Internet)

What are obligations of the property seller in Vietnam?

Pursuant to Clause 2, Article 47 of the Asset Auction Law 2016, the property seller has the following obligations:

a/ To take responsibility for the auctioned property;

b/ To sign a contract on purchase and sale of the auctioned property or submit property auction results to a competent agency for approval;

c/ To hand the auctioned property and documents of title related to such property to the property buyer as agreed upon in the contract on purchase and sale of the auctioned property or as prescribed by law;

d/ To report to a competent agency on the selection of a property auction organization, developments of the auction and property auction results, in case of auction of state property;

dd/ Other obligations as prescribed by law.

Best regards!