In Vietnam, notarization is an important procedure when buying and selling real estate. Therefore, when buying and selling real estate, it is necessary to consider the following issues:
Article table of contents
1. Request dossier for notarization of contract for the sale and purchase of real estate
To carry out the notarization procedure for pre-drafted contracts, it is necessary to prepare the documents specified in Clause 1 Article 40 of the Law on Notarization 2014 of Vietnam:
1. A notarization request dossier shall be made in one set, comprising:
a/ A notarization request containing information on full name and address of the notarization requester, contents to be notarized and list of enclosed papers; name of the notarial practice organization, full name of the dossier recipient, and time of dossier receipt;
b/ The draft contract or transaction;
c/ A copy of the personal identity paper of the notarization requester;
d/ A copy of the ownership certificate or use right certificate or its substitute paper as permitted by law for assets subject to ownership or use right registration under law, in case the contract or transaction is related to those assets;
dd/ Copies of other papers related to the contract or transaction as required by law.
Thus, in case of a pre-drafted contract, the requester shall prepare a notarization request, the draft contract/transaction and a copy of the personal identity paper of the notarization requester. Moreover, a copy of the ownership certificate or use right certificate or its substitute paper as permitted by law is required for assets subject to ownership or use right registration under law, in case the contract or transaction is related to those assets.
The copies specified above may be photocopied, printed or typewritten copies containing full and accurate contents as the originals and do not need to be certified.
This regulation creates significant convenience in the process of preparing documents required for notarization procedures. As a result, the notarization process can be carried out more quickly, efficiently, and with simplicity.
2. Procedures for notarization of contract for the sale and purchase of real estate
According to Article 40 of the Law on Notarization 2014, procedures for notarization of pre/drafted contracts and transactions shall be carried out as follows:
- A notary shall check the papers in a notarization request dossier. When the dossier is complete and valid as prescribed by law, he/she shall accept it and record it in the notarial register.
- Notaries shall guide notarization requesters to comply with regulations on notarization procedures and relevant regulations on performance of contracts and transactions; clearly explain to notarization requesters their rights, obligations and lawful interests as well as the significance and legal consequences of their entry into contracts or transactions.
- When having grounds to believe that a notarization request dossier contains unclear matters, the contract or transaction was concluded under threat or coercion, or having doubts about the civil act capacity of the notarization requester, or the object of the contract or transaction has not yet been specifically described, a notary may request the notarization requester to clarify the matters or, at the request of the notarization requester, conduct verification or request assessment; if the matters cannot be clarified, the notary has the right to refuse to notarize.
- A notary shall check the draft contract or transaction; if the draft contains some articles and clauses contrary to law or social ethics or the object of the contract or transaction is incompliant with law, he/she shall point them out for the notarization requester to modify. If the notarization requester fails to modify, the notary has the right to refuse to notarize.
The notarization requester shall himself/herself read again the draft contract or transaction or request the notary to read it.
- If agreeing with the whole contents of the draft contract or transaction, the notarization requester shall sign every page of the draft. The notary shall request the notarization requester to produce the originals of the papers as specified for comparison before writing testimonies and signing every page of the contract or transaction.
3. Fees for notarization of contract for the sale and purchase of real estate
* Basis for calculation of notarization fee:
According to Clause 2 Article 4 of Circular No. 257/2016/TT-BTC of the Ministry of Finance of Vietnam, fees for notarization of contracts or transactions regarding real estate according to the value of property or the value of contract/transaction are specified as follows:
- Notarization of contracts for transfer, donation, division, merging, exchange or contribution of capital by land use right: The notarial service fee shall be calculated according to the value of the land use right.
- Notarization of contracts for transfer, donation, division, merging, exchange or contribution of capital by land use right and properties attached to land including house and structures on land: The notarial service fee shall be calculated according to the sum of the value of the land use right and the values of properties attached to land, including the values of house and structures on land.
* Payable notable fees:
Legal basis:
- Circular No. 257/2016/TT-BTC
Ngoc Tai
- Key word:
- Law on Notarization 2014
