Is the Right to Use Land Considered a Future-Formed Asset?

Based on the provisions of Clause 2, Article 108 of the Civil Code 2015, assets formed in the future include:

- Assets that have not yet been formed;- Assets that have been formed but the ownership rights are established after the transaction is concluded.

Simultaneously, according to Clause 2, Article 1 of Decree 11/2012/ND-CP, assets formed in the future include:

- Assets formed from borrowed capital;- Assets in the process of being formed or being legally created at the time the secured transaction is established;- Assets that have been formed and are subject to ownership registration, but are registered according to the law after the secured transaction is concluded.

Assets formed in the future do not include land use rights.

According to the information you have provided, your family is in the process of transferring the red book land use rights. However, these land use rights are not considered assets formed in the future. Therefore, you can only exercise the rights of the land user after completing the procedures for transferring and registering land changes according to regulations.

Sincerely!