Procedures for transferring contracts for sale or lease purchase of off-the-plan houses in Vietnam

Order and procedures for transfer of contracts for purchase and sale or lease purchase of houses to be formed in the future and for transfer of lease purchase contracts for existing houses and construction works.

Procedures for transferring contracts for sale or lease purchase of off-the-plan houses in Vietnam

According to Article 8 of Decree No.02/2022/ND-CP, procedures for transfer of contracts for sale or lease purchase of off-the-plan houses and transfer of contracts for lease purchase of existing houses and buildings shall be specified as follows:

- Procedures for transferring the contract for sale and purchase of off-the-plan housing shall comply with regulations of law on housing.

- Procedures for transferring lease purchase contracts and transferring existing lease purchase contracts:

+ The transferor and the transferee shall make a written agreement on transfer of the contract using the form No.

The transfer agreement shall be made in 06 copies (02 copies shall be kept by the investor, 01 copy by the tax authority, 01 copy by the receiving authority, 01 copy by the transferor and 01 copy by the transferee).

If the transferor is an enterprise engaged in real estate trading, the transfer notarization is not required, unless the parties have demand.

+ One of the parties applies for certification of the transfer agreement. An application for notarization includes: original copies of the transfer agreement; original copy of the initially signed contract with the investor; documents proving the amount of money that the transferor has paid to the investor in case of transfer of one or some houses or construction works under the contract, original copy or appendix of the transferred contract; documents proving the amount of money that the transferor has paid to the investor; original or certified true copy of the transfer note (if any) and other documents as prescribed in law on notarization.

+ After the notarization (except where notarization is not required), the transferors shall have to pay taxes, charges and fees related to the contract transfer according to the provisions of law.

+ If the transfer of one or several houses or construction works out of the total number of houses or construction works already hired under the contract requires the original contract or its appendix which specifies that the houses or construction works have been transferred to the investor; documents proving the tax payment or tax exemption under regulations of law on taxation, the original contract or appendix must be submitted.

+ Within 05 working days from the date on which the documents prescribed in Point d of this Clause are received, the investor shall consider certifying the transfer agreement and not collect any expenses. After confirming the transfer agreement, the investor shall retain 02 originals of the transfer agreement and return the documents specified in Point d of this Clause to the transferee.

+ From the date on which the transfer agreement is certified by the investor, the transferee of the agreement may keep performing rights and obligations of the lessee with the investor under the signed agreement and the transfer agreement.

+ From the second transfer agreement, the transferor must submit complete documents of previous transfers before initiating transfer procedures.

+ The last transferee of the contract that is granted the Certificate as prescribed in law on land.

- Within 05 days from the date on which the transfer is completed as prescribed in Point dd Clause 2 of this Article, a notice of receipt of transferred agreement (including name, address of the real estate project, name of the transferring enterprise, number of contract, number of houses and construction works under the transfer contract) shall be sent to the central housing authority for consolidation.

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