New regulations on auctioned properties in Vietnam from January 1, 2025

New regulations on auctioned properties in Vietnam from January 1, 2025

The Law amending Law on Property Auction 2024 amends Article 4 of the Law on Property Auction 2016 on auctioned properties in Vietnam as follows:

Properties that are required by law to be auctioned include:

- Land use rights as stipulated by the law on land;

- Mineral exploitation rights as stipulated by the law on minerals;

- The right to use radio frequencies as stipulated by the law on radio frequencies;

- The right to use telecommunications codes, numbers, and the national domain name Vietnam “.vn” as stipulated by the law on telecommunications;

- The right to use forests and forest leases as stipulated by the law on forestry;

- Fixed properties of enterprises as stipulated by the law on the management and use of state capital invested in production and business in enterprises;

- National reserve properties as stipulated by the law on national reserves;

- Public properties at agencies, organizations, units, infrastructural properties, properties established under the ownership of the entire people, and properties of projects using state capital as stipulated by the law on management and use of public properties;

- Properties for judicial decisions as stipulated by the law on civil judgment enforcement;

- Secured properties as stipulated by the law on guarantees of obligations;

- Distrained properties to ensure the execution of administrative violation penalty decisions as stipulated by the law on handling administrative violations;

- Properties of bankrupt cooperatives and cooperative unions as stipulated by the law on cooperatives and the law on bankruptcy;

- Properties of bankrupt enterprises as stipulated by the law on bankruptcy;

- Bad debts and secured properties of bad debts of organizations wholly owned by the State established by the State Bank of Vietnam to handle bad debts of credit institutions as stipulated by the law;

- Other properties required by law to be auctioned.

Properties that do not fall under the above regulations but are voluntarily chosen by individuals or organizations for auction.

More details can be found in the Law amending Law on Property Auction 2024 which comes into force in Vietnam from January 1, 2025, except for cases stipulated in Article 3 of the Law amending Law on Property Auction 2024.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE