Law on Property Auction 2016 of Vietnam: Property required to be sold through auction

Specifically, according to Article 4 of the Law on Property Auction 2016 of Vietnam, properties required by law to be sold through auction include:

- State property as defined by the law on management and use of state property;

- Property over which ownership by the entire people is established in accordance with law;

- Property being land use rights as defined by the land law;

- Collateral as defined by the law on secured transactions;

- Property for judgment enforcement as defined by the law on enforcement of civil judgments;

- Property being exhibits or means used in administrative violations which are forfeited into the public funds, property distrained to secure the execution of administrative sanctioning decisions in accordance with the law on handling of administrative violations;

- Property being national reserve goods as defined by the law on national reserves;

- Fixed assets of enterprises as defined by the law on management and use of state capital invested in production and business at enterprises;

- Property of enterprises and cooperatives declared bankrupt in accordance with the law on bankruptcy;

- Property being road infrastructure facilities and the right to collect charges for use of road infrastructure facilities in accordance with the law on management, use and operation of road infrastructure facilities;

- Property being the mining right in accordance with the mineral law;

- Property being the right to use or own planted production forests in accordance with the law on forest protection and development;

- Property being the right to use radio frequencies in accordance with the law on radio frequencies;

- Property being non-performing loans and collateral for such non-performing loans of the wholly state-owned organization established by the Government to settle non-performing loans of credit institutions in accordance with law;

- Other property required by law to be sold through auction.

Property owned by individuals and organizations which will be sold through auction of their own free will according to the order and procedures prescribed in the Law on Property Auction 2016 of Vietnam.

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