Guidance on Implementing Future House Sale Contracts

In relation to the issues encountered when implementing the legal provisions on housing and real estate business of the Hanoi Department of Natural Resources and Environment, the Ministry of Construction has issued the following directives:

Regarding the transfer document of the home purchase contract with the transferee being a foreign organization

The Law on Real Estate Business does not stipulate the transfer of contracts for the sale and lease-purchase of buildings formed in the future that are not housing. It only provides for:

- The transfer of lease-purchase contracts for existing houses and buildings; and- The transfer of purchase and lease-purchase contracts for future-formed housing.

The confirmation of the investor (the seller, the lease-purchaser) in the contract transfer document for the transfer of lease-purchase contracts for existing houses and buildings is carried out in accordance with the provisions of Article 9 of Decree 76/2015/ND-CP.

If it is the transfer of a future-formed commercial housing purchase contract, it is implemented according to the provisions of Chapter 5 of Circular 19/2016/TT-BXD.

Regarding the application for a certificate for foreign organizations

According to current regulations, the dossier, order, and procedures for granting the Certificate of Land Use Rights, Ownership of Houses, and Other Assets Attached to Land for organizations and individuals (including foreign organizations and individuals) are implemented in accordance with the provisions of the Land Law 2013, Decree 43/2014/ND-CP, and Circular 23/2014/TT-BTNMT.

- When issuing the certificate to the transferee of the final lease-purchase contract for houses or buildings, in addition to the documents prescribed by land law, the applicant must also have the documents specified in Clause 8, Article 9 of Decree 76/2015/ND-CP such as:- The original lease-purchase contract for houses or buildings initially signed with the lease-purchaser;- The original final transfer document of the contract confirmed by the lease-purchaser.- When issuing the certificate to the final transferee of a commercial housing purchase contract, in addition to the documents prescribed by land law, the applicant must also have the documents specified in Clause 5, Article 33 of Circular 19/2016/TT-BXD such as:- The original home purchase contract signed with the investor.- In case of the second and subsequent transfers, the original of the nearest preceding transfer document must be included;- In case of transferring one or several houses out of the total number of houses purchased from the investor according to the original contract, a certified copy of the original contract and the original appendix of the home purchase contract signed with the investor for the transferred houses must be submitted;- In case of having received the handover of the house, the original handover record must be included;- The original final transfer document of the contract confirmed by the investor.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE