Applications for registration for mortgage of land use rights in Vietnam: 04 important cases to be noted

According to Vietnam’s current regulations, registration applications specified in Decree No. 102/2017/NĐ-CP of Vietnam’s Government and in Circular No. 07/2019/TT-BTP include: Application for mortgage; Application for error revision and rectification; Application for issuance of notice on disposal of mortgaged assets; Application for withdrawal of registration; Application for transition of mortgage registration (hereinafter referred to as “applications”);

Applications must fully bear signature of competent individuals and stamps (if any) of mortgagors and mortgagees corresponding with information in mortgage agreements or of legal representatives in case mortgagors and mortgagees have representatives, except cases specified in Clauses 2, 3, 4, 5 and 6 Article 6 of Circular No. 07/2019/TT-BTP of the Ministry of Justice of Vietnam.

Below are 06 cases relating to signature and stamps in applications that should be noted:

Case 1: In case mortgage agreements and contracts on amendments to mortgage agreements have been certified or verified, applications only require signature of competent individuals and stamps (if any) of mortgagors, mortgagee or legal representatives thereof.

Case 2: In case of application for revision of registration contents regarding mortgagees as specified in Clause 1 Article 18 of Decree No. 102/2017/NĐ-CP including revision due to reorganization of juridical person, sale or purchase of debts or transition of requested rights or other civil obligations as per the law, applications are only required to bear signature of competent individuals and stamps (if any) of new mortgagees or legal representatives thereof.

In case of application for revision of registration contents regarding mortgagees in order to correct information about mortgagees; application for withdrawal of mortgaged assets; application for issuance of notice on disposal of collateral; application for withdrawal of registration, the applications are only required to bear signature of competent individuals and stamps (if any) of the mortgagees or legal representatives thereof.

Case 3: In case of application for withdrawal of registration with presence of record of mortgage agreement liquidation or documents approving registration withdrawal of mortgagees or documents confirming redemption of mortgagees, the applications are only required to bear signature of competent individuals and stamps (if any) of mortgagees or legal representatives thereof.

Case 4: In case receivers, enterprises managing or liquidating assets of other enterprises going bankrupt are applicants, applications are only required to bear signature of competent individuals and stamps (if any) of receivers or enterprises managing or liquidating assets.

Case 5: In case of registration withdrawal as specified in Point i Clause 1 Article 21 of Decree No. 102/2017/NĐ-CP in which applicants are civil judgment enforcement authorities or bailiff offices that have listed and disposed mortgaged assets or assets or individuals or juridical person purchasing property for judgment enforcement, the applications are only required to bear signature of competent individuals and stamps (if any) of these organizations and individuals or legal representatives of persons or juridical person purchasing property for judgment enforcement.

Case 6: In case branches of juridical person are assigned by the juridical person to perform functions of the juridical person regarding registering security interests according to charter or authorization of competent individuals of the juridical person as per the law in cases specified in this Article, signature of competent individuals and stamps (if any) of the branches shall replace signature of competent individuals and stamps (if any) of juridical person.

View full text at Circular No. 07/2019/TT-BTP of the Ministry of Justice of Vietnam, effective from January 10, 2020.

Thu Ba

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