Regulations on notarization and authentication of housing agreements in Vietnam

Regulations on notarization and authentication of housing agreements in Vietnam (Internet image)

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

1. Regulations on housing agreement in Vietnam

According to Article 121 of the Law on Housing 2014, a housing agreement shall be concluded by contracting parties and made in writing, including:

- Full names of individuals, names of organizations and addresses of contracting parties;

- Description of characteristics of the house and the piece of land attached to that house.

Regarding agreements on apartment sale or lease purchase, contracting parties must state the common areas or common-using areas; private areas; floor area; purposes of the common areas or common-using areas in the apartment building according to approved design;

- The value of contributed capital, the transaction price of housing if there is a term on pricing in the agreement; regarding transactions in housing sale, lease, or lease purchase which is regulated pricing by the State, contracting parties shall comply with that regulations;

- Deadline for and method of payment regarding transactions in housing sale, lease, lease purchase or transfer of agreements on housing sale;

- Deadline for housing transfer; housing warranty duration regarding transactions in buying or renting and buying new house; terms of agreements on housing lease, lease purchase, mortgage, lending, permission for stay, authorization of housing management; deadline for capital contribution;

- Rights and obligations of contracting parties;

- Commitments of contracting parties;

- Other agreements;

- Effective date of the agreement;

- Date of agreement;

- Signatures and full names of contracting parties, or stamps (if any) and positions of the signatories regarding organizations.

2. Regulations on notarization and authentication of housing agreements in Vietnam

Notarization and authentication of agreements and effective date of housing agreements in Vietnam according to Article 122 of the Law on Housing 2014 are as follows:

- Regarding agreements on housing sale, giving, exchange, capital contribution, mortgage, or transfer of agreement on commercial housing sale, it is required to notarize or authenticate the agreement, except for cases prescribed in Clause 2 of Article 122 of the Law on Housing 2014.

Regarding any agreement prescribed in Clause 1 of Article 122 of the Law on Housing 2014, the effective date of the agreement shall be the date on which the agreement is notarized or authenticated.

- Regarding transactions in giving houses of gratitude; sale or lease purchase of state-owned housing; sale or lease purchase of social housing, housing serving the relocation;

Contributed housing which one entity of contracting parties is an organization; housing lease, lending, permission for stay, or authorization of housing management, it is not required to notarize or authenticate the agreement, unless contracting parties wish to notarize or authenticate the agreement.

Regarding any agreement prescribed in Clause 1 of Article 122 of the Law on Housing 2014, the effective date of the agreement shall be agreed by contracting parties; if the contracting parties do not agree, the effective date of agreement shall be the date on which the agreement is signed.

- The documents on housing inheritance must be notarized or authenticated as prescribed in law on civil.

- The notarization of housing agreement must be carried out at a notary; the authentication of housing agreement must be carried out at the People’s Committee of the commune where the house is located.

3. Procedures for entering into housing transactions in Vietnam

Procedures for entering into housing transactions under Article 120 of the Law on Housing 2014 are as follows:

- Any parties entering into housing transactions shall conclude agreements on housing sale, lease, lease purchase, giving, exchange, mortgage, capital contribution, lending, permission for stay, or authorization of housing management or documents on transfer of agreement on commercial housing sale (hereinafter referred to as housing agreement) according to regulations prescribed in Article 121 of the Law on Housing 2014; regarding the organization giving house of gratitude, only document on giving is required.

- The contracting parties shall agree to choose a party to request the competent agency to grant the Certificate of housing;

Regarding housing which is bought or leased and purchased from the investor, the investor must complete the procedures for the Certificate issued to the buyer or the lessee by the competent agency, unless the buyer or the lessee wishes to completes the procedures themselves.

- If the competent agency grants the Certificate to the person who buys, rents and purchases housing, receives housing as giving, exchange, or capital contribution together with lawful residential land where that housing is located, it shall concurrently recognize the homeownership and rights to use residential land.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE