Decree 76: All the procedures for transferring contracts for lease purchase of existing buildings in Vietnam

Article 9 of Decree No. 76/2015/ND-CP of Vietnam’s Government specifies all the procedures for transferring contracts for lease purchase of existing buildings.

Specifically, the transfer of contract for lease purchase of an existing building shall:

- be made in writing and the written contract transfer agreement (hereinafter referred to as transfer agreement) must be notarized or authenticated;

- Tax payment shall be made;

- The recognition of investor in the written contract transfer and the issuance of the certificate shall be made.

Procedures for transferring contracts for lease purchase of existing buildings shall be carried out as follows:

Step 1: A transfer agreement of the contract using the form No. 06 prescribed in Appendix issued with Decree No. 76/2015/ND-CP shall be drafted by the transferor and the transferee or a notary at the requests of contracting parties. The transfer agreement shall be made in 04 copies and notarized/authenticated as prescribed in Clause 2 of this Article (01 copy for the lessor; 01 copy for the tax authority; 01 copy for the transferor; and 01 copy for the transferee).

The notarization or authentication of the transfer agreement shall comply with the following provisions:

- If the transferor is a household, an individual or organization other than a real estate enterprise, the transfer agreement must be notarized or authenticated. Documents subject to notarization or authentication include:

+ The initial contract for lease purchase concluded with the lessor and the transfer agreement of the preceding transfer if the contract has been transferred for at least two times (original copy);

+ An ID card or passport applicable to the transferor being individual; or a decision on establishment or registration of establishment (certified true copy or photocopy with original copy for comparison) applicable to the transferor being organization;

+ Other documents prescribed in law on notarization and authentication.

- If the transferor is a real estate enterprise, the notarization or authentication of transfer agreement shall be agreed by contracting parties. If the notarization or authentication is agreed, it shall be implemented as prescribed above;

- The notarial practice organization or authenticating authority shall notarize or authenticate the transfer agreement by the deadline prescribed in law on notarization or authentication.

Step 3: The transferor and transferee of the lease purchase contract must pay taxes, fees and charges for the contract transfer as prescribed.

Step 4: The recognition of the lessor in the transfer agreement shall be carried out as follows:

- Contracting parties must submit the following documents to the lessor:

+ The initial contract for lease purchase of existing building concluded with the lessor (original copy);

+ The notarized or authenticated transfer agreement; or the original copy of the written contract transfer of the preceding transfer (if the contract has been transferred for at least two times);

+ A receipt of tax payment or certification of tax exemption prescribed in the law on taxation (original copy);

+ An ID card or passport applicable to the transferor being individual; or a decision on establishment or registration of establishment (certified true copy or photocopy with original copy for comparison) applicable to the transferor being organization;

- The lessor must certify the transfer agreement within 05 working days, from the date on which the transfer agreement is received and return all received documents, including 02 certified transfer agreements (01 copy for the transferor and 01 copy for the transferee). The lessor may not collect any expenses related to the transfer. The lessor must archive a set of documents (photocopies) on contract transfer as prescribed in Point a of this Article, including 01 original copy of the transfer agreement.

Step 5: From the date on which the transfer agreement is certified by the lessor, the transferee shall keep exercise rights and perform obligations of the lessee as agreed.

Note:

- The procedures for the contract transfer are the same at any time of transfer.

- The last transferee of contract for lease purchase of existing building shall be issued a certificate by the competent agency as prescribed in law on land.

- When following the procedures for issuance of certificate, the applicant shall submit, excluding documents prescribed in law on land, the following documents:

+ The initial contract for lease purchase (original copy);

+ The last transfer agreement certified by the lessor (original copy).

View more details at Decree No. 76/2015/ND-CP of Vietnam’s Government, effective from November 01, 2015.

Thu Ba

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