Vietnam: Contents that must be contained in the contract for sale, lease or lease purchase of a social house

10:24, 05/07/2016

In 2016, the Ministry of Construction of Vietnam issued Circular No. 20/2016/TT-BXD providing guidelines for the Government's Decree No. 100/2015/NĐ-CP on development and management of social housing.

According to Circular No. 20/2016/TT-BXD of the Ministry of Construction of Vietnam, a contract for sale, lease or lease purchase of a social house shall contain:

- Names and addresses of the parties;

- Information about the house;

- Price or rent;

- Method of payment and payment time;

- Transfer time;

- Warranty clause;

- Rights and obligations of the parties;

- Commitments of the parties;

- Contract termination clause;

- Other arrangements;

- Dispute settlement;

- Contract effect.

Note: If the social house is an apartment, apart from the above information, the contract must specify the private area and shared area of the investor and the buyer, tenant or buyer/tenant, apartment area, usable area (carpet area) which is the basis for price/rent calculation etc.

View relevant provisions at Circular No. 20/2016/TT-BXD of the Ministry of Construction of Vietnam, effective from August 15, 2016.

- Thanh Lam -

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