What is the the time of transfer of the homeownership in Vietnam?

What is the the time of transfer of the homeownership in Vietnam? (Internet image)

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

1. What is the the time of transfer of the homeownership in Vietnam?

Time of transfer of the homeownership according to Article 12 of the Law on Housing 2014 is as follows:

- With respect to any agreement on housing sale not prescribed in Clause 3 of Article 12 of the Law on Housing 2014 and any agreement on housing lease purchase, the homeownership shall be transferred from the date on which the buyer or the lessee pays off the total amount and receives the house, unless otherwise agreed.

- With respect to any agreement on housing capital contribution, gifting, or exchange, the homeownership shall be transferred from the date on which the beneficiary of that agreement receives the house.

- With respect to any agreement on housing sale concluded between the investor and the buyer, the homeownership shall be transferred from the date on which the buyer receives the house or from the date on which the buyer payoffs the total amount to the investor. With respect to any agreement on commercial housing concluded with the real estate enterprises, the homeownership shall be transferred in accordance with law on real estate trading.

- With respect to housing inheritance, the homeownership shall be transferred in accordance with law on inheritance.

- The housing-related transactions prescribed in Clause 1, 2 and 3 of Article 12 of the Law on Housing 2014 shall comply with requirements pertaining to housing-related transactions and the agreement must take effect as prescribed in the Law on Housing 2014.

2. Rights of homeowners and occupiers in Vietnam

Rights of homeowners and occupiers according to Article 10 of the Law on Housing 2014 are as follows:

- If the homeowner is a Vietnamese entity or an oversea Vietnamese, he/she shall have rights to:

+ Enjoy inalienable rights to his/her lawful housing;

+ Use the house for residential purposes and other purposes not prohibited by regulations of law.

+ Obtain the Certificate of the house(s) under their lawful homeownership as prescribed in the Law on Housing 2014 and law on land;

+ Sell housing or transfer the agreement on housing purchase, lease , lease and purchase, gifting, exchange, inheritance, mortgage, capital contribution, lending, permission for stay, or authorize housing management; if the agreement on housing gifting or inheritance is concluded with an entity ineligible for the homeownership in Vietnam, such entity is only entitled to the value of the house;

+ Share the public utilities in that residential area as prescribed in the Law on Housing 2014 and relevant regulations of law.

The owner of an apartment building has the right to ownership and enjoyment of the common areas and infrastructural works of such apartment building, exclusive of buildings for business or transfer to the State as prescribed, and the agreement on housing sale or lease purchase;

+ Maintain, renovate, demolish, or rebuild his/her house as prescribed in this Law and law on construction.

+ Receive the compensation as prescribed in regulations of law or payment according to fair market price when their house is demolished, imposed compulsory purchase order, or commandeered by the State for national defense and security purposes; for socio-economic development purposes, or in the state of war, state of emergency, or disaster situations;

+ File complaints, denunciation, or lawsuits over violations against their lawful ownership and other violations against law on housing.

- If for a person has a fixed-term homeownership as prescribed in Clause 1 Article 123 of the Law on Housing 2014, he/she may exercise the rights prescribed in Clause 1 of this Article over the homeownership period, unless otherwise agreed among the parties; when the contractual term expires, the house which is under management of the homeowner must be returned to the initial homeowner.

- If the homeowner is a foreign organization or individual, he/she shall have the rights prescribed in Article 161 of the Law on Housing 2014.

- Any occupier other than the homeowner may exercise rights to manage or use the house as agreed with the homeowner.

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