Newest regulations on procedures for transfer of real estate business contracts in Vietnam

Newest regulations on procedures for transfer of real estate business contracts in Vietnam (Internet image)

Newest regulations on procedures for transfer of real estate business contracts in Vietnam

According to the provisions of Article 13 of Decree 96/2024/ND-CP, the procedures, and application for transfer of real estate business contracts in Vietnam are as follows:

- The transfer of a real estate business contract is conducted in accordance with the Law on Real Estate Business 2023 and Decree 96/2024/ND-CP.

- The procedures, and application for transfer of real estate business contracts in Vietnam are carried out as follows:

+ The transferor and the transferee shall agree to draft a contract for transferring the business contract according to the template in Appendix XI issued with Decree 96/2024/ND-CP.

The contract must be made in 08 copies (02 copies for the project investor’s records, 01 copy for the tax office, 01 copy for the agency receiving the certificate application, 02 copies for the transferor’s records, and 02 copies for the transferee’s records); if the contract is notarized, there must be an additional copy for the notary public office;

+ One of the parties submits the dossier requesting a notary public organization located in the province or city under central authority where the real estate is located to certify the transfer contract. The dossier requesting notarization includes:

++  Original  copies  of  the  transfer  contract;

++  Original  copy  of  the  initial  contract  signed  with  the  project  investor.  In  the  case  of  transferring  one  or  more  houses  or  construction  works  out  of  the  total  number  of  houses  or  construction  works  purchased  or  leased  under  the  contract,  the  original  contract  or  the  contract  appendix  showing  the  transferred  houses  or  construction  works  signed  with  the  project  investor  must  be  submitted;

++  Proof  of  payment  made  by  the  transferor  to  the  project  investor;

++  Original  or  certified  copies  of  the  handover  record  of  the  houses  or  construction  works  (if  any)  and  other  documents  (if  any)  as  per  the  regulations  on  notarization;

If the transferor is a business enterprise with real estate business activities, notarization of the transfer contract is not mandatory according to point b, clause 2, Article 13 of Decree 96/2024/ND-CP; except when the parties desire notarization;

+ After notarization (except in cases where notarization is not required) as prescribed at point b, clause 2, Article 13 of Decree 96/2024/ND-CP, the parties are responsible for paying taxes, fees, and charges related to the transfer according to the law on taxes, fees, and charges;

+ After completing the requirements at point c, clause 2, Article 13 of Decree 96/2024/ND-CP, one of the parties submits the dossier to the real estate project investor requesting confirmation of the contract transfer. The dossier includes: 08 original copies of the transfer contract attached with the original contract; in the case of transferring one or more houses or construction works out of the total number of houses or construction works purchased or leased under the contract, the original contract or its appendices showing the transferred houses or construction works signed with the project investor must be submitted; proof of payment or tax exemption, reduction according to the law on taxes;

+ Within 05 working days from the date of receiving all documents as prescribed at point d, clause 2, Article 13 of Decree 96/2024/ND-CP, the real estate project investor is responsible for checking and confirming the transfer contract and must not charge any fees. After confirming the transfer contract, the investor keeps 02 original copies of the transfer contract and returns 06 original copies to the submitting party along with the submitted documents as per the regulations at point d, clause 2, Article 13 of Decree 96/2024/ND-CP;

+ From the date the transfer contract is confirmed by the project investor, the transferee shall continue to exercise the rights and obligations of the buyer or the lessee with the project investor under the signed contract and the transfer contract;

+ Transfer cases from the second onward shall follow the procedures prescribed in Article 13 of Decree 96/2024/ND-CP. The transferor must submit all previous transfer documents when processing the new transfer;

+ The transferee in the last transfer contract according to the provisions of Article 13 of Decree 96/2024/ND-CP shall be granted a Certificate by the competent state authority in accordance with the land law.

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