What are ownership rights? Time of establishing ownership rights and other property-related rights in Vietnam

Regarding this issue, LawNet would like to answer as follows:

1. What are ownership rights?

According to Article 158 of the Civil Code 2015, ownership rights comprise the rights of an owner to possess, use and dispose of the property of the owner in accordance with law.

Inside:

Where an owner possesses its own property, such owner may do all things to keep and manage the property in accordance with his or her wishes provided that it is not contrary to law or social morals to do so. (Article 186 of the Civil Code 2015)

- Right to use means the right to exploit the usage of, and to enjoy the yield and income derived from, property. The right to use may be transferred to another person upon an agreement or as prescribed by law. (Article 189 of the Civil Code 2015)

- Right of disposal means the right to transfer ownership rights, renounce ownership rights, right to use, or destruct the property. (Article 192 of the Civil Code 2015)

What are ownership rights? Time of establishing ownership rights and other property-related rights in Vietnam (Internet image)

2. Other property-related rights in Vietnam

Article 159 of the Civil Code 2015, other property-related rights mean rights of entities directly hold or control the property belonging to ownership rights of another entity.

Other property-related rights include:

- Right to adjacent immovable property;

- Usufruct right;

- Surface rights.

3. Rules for establishing and exercising ownership rights and other property-related rights in Vietnam

Rules for establishing and exercising ownership rights and other property-related rights are specified in Article 160 of the Civil Code 2015, specifically:

- Ownership rights and other property-related rights shall be established and exercised if they are prescribed in Code and relevant laws.

Other property-related rights shall remain valid although the ownership right have been transferred, otherwise provided by this Code or relevant laws.

- Each owner is entitled to perform all acts on his willpower to the property but it is not contrary to the provisions of the law, damage or adversely affects national interests, ethnicity, public interests, rights and legitimate interests of other people.

- Each holder of other property-related rights is entitled to perform all acts within the scope prescribed in this Code and relevant laws but it is not contrary to the provisions of the law, damage or adversely affects national interests, ethnicity, public interests, rights and legitimate interests of the owner or other people.

4. Time of establishing ownership rights and other property-related rights in Vietnam

Pursuant to Article 161 of the Civil Code 2015, the time of establishing ownership rights and other property-related rights is prescribed as follows:

- The time of establishing ownership rights and other property-related rights shall be determined as prescribed in Civil Code 2015 and relevant laws; if there is no relevant regulations of law, the agreement of the parties shall prevail;

If there is no either relevant regulations of law or agreement of the parties, the time of establishing ownership rights and other property-related rights shall be the time when the property is transferred.

The time when the property is transferred is the time when the obligee or his/her legal representative possesses the property.

- In case where the property which has been not transferred arise yield or income, such yield or income shall belong to the transferor, unless otherwise agreed.

Nhu Mai

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