Latest Application Form for the Operation of Real Estate Trading Floors in 2024
What is understood by Real Estate Exchange?
Based on Article 3 of the Law on Real Estate Business 2023 stipulated as follows:
Article 3. Interpretation of terms
In this Law, the following terms are construed as follows:
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- A real estate service business contract is a written agreement between an organization that meets the real estate service business conditions as prescribed by this Law and an organization or individual for the real estate service business.
10. A real estate exchange is a place where transactions including buying, selling, transferring, leasing, subleasing, and lease-purchasing of real estate occur, established and operating under the provisions of this Law.
- Real estate brokerage is acting as an intermediary for parties in buying, selling, transferring, leasing, subleasing, and lease-purchasing real estate.
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According to the above regulations, a real estate exchange can be understood as a place where transactions related to buying, selling, transferring, leasing, subleasing, and lease-purchasing of real estate occur, established and operating according to regulations.
The latest 2024 application form for the operation of real estate exchanges? (Photo from the Internet)
The latest 2024 Application Form for the Operation of Real Estate Exchanges?
Based on Appendix 17 issued together with Decree 96/2024/ND-CP stipulating the application form for the operation of real estate exchanges.
What are the rights and obligations of a real estate exchange?
Based on Article 57 of the Law on Real Estate Business 2023 stipulating the rights of real estate exchanges:
Rights of a real estate exchange
- Request customers to provide documents and information about the real estate posted on the real estate exchange.
- Refuse to post real estate on the exchange that does not meet the business conditions.
- Collect service fees from customers by agreement.
- Request customers to compensate for damages caused by the customers’ fault.
- Other rights as stipulated by the contract.
Based on Article 58 of the Law on Real Estate Business 2023 stipulating the obligations of real estate exchanges:
Obligations of a real estate exchange
- Ensure the real estate posted on the real estate exchange meets the business conditions.
- Post and provide full and truthful documents and information about the real estate, and take responsibility for the documents and information posted and provided.
- Ensure the facilities, technical conditions, and operational conditions of the real estate exchange.
- Implement reporting policies according to the law and be subject to inspection and supervision by competent state agencies.
- Fulfill tax obligations to the State as per the law.
- Compensate for damages caused to customers due to its own fault.
- Manage brokers and workers at the real estate exchange in adhering to the law.
- Organize annual training and professional development for brokers working at the real estate exchange.
- Maintain transaction records according to legal regulations.
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Therefore, the rights and obligations of a real estate exchange are as follows:
[1] Rights of a real estate exchange
- Request customers to provide documents and information about the real estate posted on the real estate exchange.- Refuse to post real estate on the exchange that does not meet the business conditions.- Collect service fees from customers by agreement.- Request customers to compensate for damages caused by the customers’ fault.- Other rights as stipulated by the contract.
[2] Obligations of a real estate exchange
- Ensure the real estate posted on the real estate exchange meets the business conditions.- Post and provide full and truthful documents and information about the real estate, and take responsibility for the documents and information posted and provided.- Ensure the facilities, technical conditions, and operational conditions of the real estate exchange.- Implement reporting policies according to the law and be subject to inspection and supervision by competent state agencies.- Fulfill tax obligations to the State as per the law.- Compensate for damages caused to customers due to its own fault.- Manage brokers and workers at the real estate exchange in adhering to the law.- Organize annual training and professional development for brokers working at the real estate exchange.- Maintain transaction records according to legal regulations.- Other obligations as stipulated by the contract.
