Vietnam: Guidelines for registration for mortgage in case of change in information about mortgagors

According to Article 13 of Circular No. 07/2019/TT-BTP of the Ministry of Justice of Vietnam, registration for mortgage in case of change in information about mortgagors and collateral is prescribed as follows:

First, applicants shall apply for land change, assets attached to land change or confirm changes before registering for mortgage in following cases:

- Information about number of land plot, area of land plot that is inappropriate with information on certificates generated by paddy land reformation, plot measurement and evaluation;

- Information about assets attached to land whose ownership is certified on certificates includes: Types of houses, name of buildings, number of stories, construction area, usage area, discrepancies with information on certificates due to measurement and evaluation due to construction and repair.

Second, in case of change regarding information about mortgagor on certificates; change regarding information about administrative division or other information relating to collateral that is land use rights or assets attached to land caused by decisions or documents of competent authorities as per the law, land registration offices may simultaneously adopt procedures to register land change and assets attached to land change or confirm changes to procedures to register for mortgage of land use rights and assets attached to land.

Notably, in case decisions or documents of competent authorities specified in this Clause apply solely to mortgagors, issuance of decisions or documents shall be applied for by applicants.

View other provisions 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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