Can only the Court choose to select property appraisal organizations in civil cases in Vietnam?

Can only the Court choose to select property appraisal organizations in civil cases in Vietnam?

Pursuant to Clause 2, Article 104 of the 2015 Civil Procedure Code, the above content is stipulated as follows:

Property evaluation and price appraisal

1. Involved parties may provide the price of the properties that are being in dispute or reach agreement about the price of the properties that are being in dispute.

2. The parties may reach agreement on the selection of property appraisal organizations to conduct the evaluation of properties and provide the price evaluation results for the Courts.

Properly price appraisal shall be carried out under the law on property price appraisal.

3. Courts shall make decisions on property price assessment and set up Price Assessment Councils in the following cases:

a) At the request of involved parties;

b) Involved parties failed to reach agreement about selection of price assessment organizations or offered prices were different or agreement about prices has not been reached;

c) Parties reach agreements with each other or with price assessment councils the prices which are lower than the market prices of the area where the properties are located at the time of price assessment to evade fulfilling obligations to the State or the third parties or there are grounds proving that the price assessment organizations commit violations against law provisions when conducting price assessment.

Therefore, in principle, the involved parties have the right to agree to choose a property appraisal organization to perform the property appraisal and provide the appraisal results to the Court. Only in the remaining cases above will the Court make this option in Vietnam.

Can only the Court choose to select property appraisal organizations in civil cases in Vietnam? (Image from Internet)

What are procedures for establishment of Price Assessment Council in Vietnam?

Pursuant to Clause 4, Article 104 of the 2015 Civil Procedure Code, the above content is stipulated as follows:

4. Procedures for establishment of Price Assessment Council and procedures for price assessment:

a) Price Assessment Councils shall be established by Courts and shall consist of the representatives of financial agencies as the Chairpersons and representatives of relevant specialized agencies as members. Persons who have conducted procedures in such cases and persons specified in Article 52 of this Code must not be members of Price Assessment Councils.

Price Assessment Councils shall conduct assessment only when no members of the Councils are absent. When it is necessary, representatives of People’s Committees of communes where the to be-assessed properties are located shall be invited to witness the assessment. Involved parties shall be priorly notified of time and place of price assessment, shall be entitled to attend and express opinions about the price assessment. Price Assessment Councils shall be entitled to make decisions on prices of the properties which are assessed;

b) Financial agencies and specialized agencies which are relevant shall be responsible for assigning persons to be members of Price Assessment Councils and enable them to fulfill tasks. Persons assigned to be members of Price Assessment Councils shall participate fully the assessment. If financial agencies and/or specialized agencies fail to assign persons to be members of Price Assessment Councils, Courts shall request competent immediate management agencies to direct financial agencies and specialized agencies to fulfill their requests. If persons who are assigned to be members of Prices Assessment Councils are absent without plausible reasons, Courts shall request heads of agencies having assigned such persons shall consider responsibility and appoint replacements and notify the Courts so that the price assessment could be conducted;

c) Price assessment must be recorded into minutes where opinions of each present members and involved parties shall be specified. Decisions of Price Assessment Councils must be approved by more than half of their members. Members of Price Assessment Councils, involved parties and witnesses shall append signatures or fingerprints to the minutes.

5. The re-assessment of property prices shall be conducted when there are grounds for presuming that the results of the first assessment are inexact or unconformable with market prices of places where the properties are located at the time of processing civil lawsuits.

Above are regulations on procedures for establishment of Price Assessment Council in Vietnam according to current civil procedure laws.

Best regards!