Which housing transactions are not required to have a Certificate of ownership in Vietnam?
What are housing transactions under the law in Vietnam?
According to Article 159 of the Housing Law 2023, housing transactions include purchase, lease-purchase, lease, gifting, exchange, inheritance, mortgage, capital contribution, loan, accommodation permission, and housing management authorization.
Which housing transactions are not required to have a Certificate of ownership in Vietnam?
Based on clause 2, Article 160 of the Housing Law 2023 regulating the conditions for housing transactions in Vietnam:
Article 160. Conditions for housing transactions
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2. The following housing transactions do not require a Certificate of Ownership:
a) Purchase, lease-purchase, mortgage of future-formed housing; sales of housing in cases of dissolution or bankruptcy;
b) Organizations gifting gratitude houses, charitable houses, unity houses;
c) Purchase, lease-purchase of available housing from the investor of a housing construction project in the following cases: housing belonging to public assets; social housing, housing for the people's armed forces, housing for resettlement not belonging to public assets;
d) Lease, loan, accommodation permission, housing management authorization;
dd) Inheritance of housing.
The documentation proving the conditions of housing transactions as specified in this clause is in accordance with the regulations of the Government of Vietnam.
3. In the case of housing for lease, besides the conditions specified in points c, d, and dd of clause 1 of this Article, the housing must also ensure quality and safety for the lessee, and have a complete system of electricity, water supply, drainage, and environmental sanitation, unless otherwise agreed by the parties.
Thus, housing transactions not required to have a Certificate of Ownership in Vietnam include:
- Purchase, lease-purchase, mortgage of future-formed housing; sales of housing in cases of dissolution or bankruptcy
- Organizations gifting gratitude houses, charitable houses, unity houses
- Purchase, lease-purchase of available housing from the investor of a housing construction project in the following cases:
+ Housing belonging to public assets
+ Social housing
+ Housing for the people's armed forces
+ Housing for resettlement not belonging to public assets
- Lease, loan, accommodation permission, housing management authorization
- Inheritance of housing
Which housing transactions are not required to have a Certificate of ownership in Vietnam? (Image from Internet)
What are the contents of housing transaction agreements in Vietnam?
According to Article 162 of the Housing Law 2023 regulating the procedures for housing transactions:
Article 162. Procedures for housing transactions
- Parties involved in a housing transaction agree to establish a contract for purchase, lease-purchase, lease, gifting, exchange, mortgage, capital contribution, loan, accommodation permission, housing management authorization (hereinafter collectively referred to as a housing contract) with the contents specified in Article 163 of this Law; in the case of organizations gifting gratitude houses, charitable houses, unity houses, only a gifting contract is required.
- The parties agree for one party to submit a dossier requesting the competent state agency to issue a Certificate of Ownership for that housing; in the case of purchasing, lease-purchasing housing from a project investor, the investor is responsible for completing procedures so that the competent state agency issues the Certificate of Ownership to the buyer or lease-purchaser, unless the buyer or lease-purchaser voluntarily completes the procedures for the Certificate of Ownership.
- In the case where the buyer, lease-purchaser, recipient of a gift, exchange, capital contribution, or inheritance of housing is also receiving the right to use homestead land and has the right to receive the homestead land along with the housing, when issuing the Certificate of Ownership, the competent state agency shall simultaneously recognize ownership rights of the housing and the right to use the homestead land for the housing owner.
Thus, the parties involved in a housing transaction agree to establish a contract for purchase, lease-purchase, lease, gifting, exchange, mortgage, capital contribution, loan, accommodation permission, housing management authorization with the following contents:
- Full name of the individual, name of the organization, and address of the parties
- Description of the characteristics of the transaction housing and the characteristics of the parcel attached to that housing
- Value of capital contribution, transaction price of housing if the contract has an agreement on price; in cases of sales, lease-purchase, lease of housing where the State regulates the price, the parties must comply with that regulation
- Term and method of payment, in cases of sales, lease-purchase, lease of housing
- Time of housing delivery and receipt; time of housing warranty if it’s a purchase, lease-purchase of newly constructed housing; lease-purchase, lease, mortgage, loan, accommodation permission, housing management authorization duration; capital contribution duration; duration of ownership in the case of limited-term housing sales
- Rights and obligations of the parties
- Commitments of the parties
- Other agreements
- Effective time of the contract
- Date, month, year the contract is signed
- Signatures and full names of the parties, if an organization, the seal (if any) and the title of the signer should be included
