Are mortgage contracts of secured assets of third parties notarized in a commune or ward valid in Vietnam?

Are mortgage contracts of secured assets of third parties notarized in a commune or ward valid in Vietnam?

Question: I would like to ask a lawyer to help answer the following issue: Credit contract with mortgaged assets secured by a third party. The above contract is notarized at the ward and commune level. Not notarized in the city, is the above contract legally valid?

Reply:

The contract is valid if it meets the conditions specified in Article 117 of the 2015 Civil Code.

In addition, Article 54 of the Notary Law 2014 stipulates that notarization of real estate mortgage contracts:

1. Real estate mortgage contracts shall be notarized at a notarial practice organization located in the province or centrally run city where the real estate is located.

2. In case a real estate has been mortgaged to secure the performance of one obligation and the mortgage contract has been notarized but such real estate is then further mortgaged to secure the performance of another obligation as permitted by law, a subsequent mortgage contract shall be notarized at the notarial practice organization that has notarized the first mortgage contract. In case the notarial practice organization that conducted the notarization has terminated operation or been transformed, transferred or dissolved, a notary of the notarial practice organization that is keeping the notarial records shall notarize the subsequent mortgage contract.

Thus, if the subject of the third-party mortgage contract in this case is real estate, it must be performed at a notary practice organization headquartered in a pprovince or centrally run city where real estate is located in Vietnam.

Are mortgage contracts of secured assets of third parties notarized in a commune or ward valid in Vietnam? (Image from the Internet)

Who has right to request a copy of the original contract in Vietnam? 

Question: The contract has been notarized at the Notary office between representative of A and my father. Now that my father is busy, is it okay to ask me to authenticate a copy of the original contract? I have nothing to do with this contract? And do I have to make photocopies and go to the Commune People's Committee to authenticate or can I get a notarized copy?

Reply:

In Article 65 of the Notary Law 2014, there are regulations on issuance of copies of notarized documents as follows:

1. Copies of notarized documents shall be issued in the following cases:

a/ At the request of competent agencies in the cases specified in Clause 3, Article 64 of this Law;

b/ At the request of parties to contracts or transactions and persons with rights and obligations related to the notarized contracts or transactions.

2. Copies of notarized documents shall be issued by a notarial practice organization that keeps the originals of those documents.

Thus, according to regulations in Vietnam, only one party participating in that contract or having rights and obligations related to that contract can request a copy and one of the two parties involved can go to the notary office to ask for a copy, but it is not necessary to photocopy it and then go to the commune to notarize it. You are the person who has nothing to do with the mutual contract, so you cannot replace your father.

Can a contract that has been notarized be canceled in Vietnam?

Question: Dear Lawyer, in the case of a house sale contract that has been notarized, but then the seller does not want to sell the house, so the two parties come to an agreement and want to cancel the notarized contract. I wonder if the law allows cancellation of that contract?

Reply:

According to the 2015 Civil Code: A contract is an agreement between parties on the establishment, change or termination of civil rights and obligations.

Article 51 of the Notary Law 2014 regulates notarization of amendments, supplements, and cancellations of contracts and transactions as follows:

1. The modification, supplementation or cancellation of a notarized contract or transaction may be notarized only with the written agreements or commitments of all parties to that contract or transaction.

2. The modification, supplementation or cancellation of a notarized contract or transaction shall be notarized at the notarial practice organization that has conducted the notarization and shall be made by a notary. If the notarial practice organization that has conducted the notarization has terminated its operation or been transformed, transferred or dissolved, a notary of the notarial practice organization that is keeping the notarial records shall modify, supplement or cancel the contract or transaction.

3. Procedures for notarization of the modification, supplementation or cancellation of a notarized contract or transaction are the same as procedures for notarization of contracts and transactions prescribed in this Chapter.

Thus, according to this regulation in Vietnam, the cancellation of a notarized contract or transaction can only be carried out with the written agreement and commitment of all persons participating in that contract or transaction and can only be performed at the previous notary practice organization. Therefore, you have right to cancel the notarized house sale contract if the above conditions are met.

Best regards!