Today, LSX Lawfirm will give you an article about: “Buy and sell apartments needs notarization of contracts in Vietnam“, as follows:
Legal grounds
Housing Law 2014
Decree 02/2022/ND-CP
Buy and sell apartments needs notarization of contracts in Vietnam
According to the provisions of Article 122 of the Law on Housing 2014, commercial housing purchase and sale including apartment buildings must be notarized or authenticated, except for the following cases:
– Buying and selling state-owned houses.
– Buying and selling social housing, housing for resettlement.
These exceptions are not required to be notarized or authenticated unless the parties so request.
At the same time, according to Clause 1, Article 6 of Decree 02/2022/ND-CP, the apartment purchase and sale contract must be made according to form No. 01 issued in the Appendix to this Decree.
The sale, transfer, lease, lease purchase, sublease of real estate and transfer of real estate projects made into a contract according to the form specified below:
1. Contract of sale, purchase and lease-purchase of an apartment specified in Form No. 01 of the Appendix issued together with this Decree.
Whereas in the past, the old regulations in Article 6 of Decree 76/2015/ND-CP only provided for model contracts and were not mandatory.
As analyzed above, the purchase and sale of apartments made in writing according to the form issued together with Decree 02/2022/ND-CP. However, an apartment purchase contract signed between an individual or an organization buying an apartment with the investor.
Notarization of apartment purchase and sale contract
- Prepared profile
- Notarization request form (according to the form of the Notary Office/Department).
- Identity papers: Identity card/Citizen ID/passport, household registration book, marriage registration or certificate of marital status, legally valid divorce judgment/decision the law…
- Papers on apartment ownership: Pink book (if the apartment building granted a house ownership certificate) or handover minutes or other papers of equivalent value.
- Authorization contract (if any).
Pursuant to Articles 40 and 41 of the Law on Notarization 2014.
Notary place
Pursuant to Clause 4, Article 122 of the Law on Housing 2014, the notarization of apartment purchase and sale contracts carried out at a notary practice organization (Notary Office or Notary Office).
Note: The parties can directly go to the head office of the Notary Office or ask the Notary to perform notarization outside the office if they are elderly and weak, unable to walk, detained or temporarily detained. , is serving a prison sentence or has other legitimate reasons (according to Article 44 of the Law on Notary 2014).
Settlement time
Within no more than 02 working days (if it complicated, it can last no more than 10 working days), the Notary Public will notarize the apartment purchase and sale contract.
Notary fees and remuneration
Notary fees calculated according to the value of the property according to Circular 257/2016/TT-BTC.
Summary of all the latest notarization fees applied (updated 2019)
Base:
– Circular 257/2016/TT-BTC
– Circular 111/2017/TT-BTC
Contract notarization fee, transaction by value
The fee for notarization of contracts and transactions determined according to the value of the asset or the value of the transaction contract, specifically:
a) Fees for the following contracts and transactions calculated as follows:
- Contracts for transfer, donation, donation, division, separation, import, exchange, capital contribution with land use rights: Calculated on the value of land use rights
- Contracts for transfer, donation, donation, division, import, exchange, capital contribution with land use rights with land-attached assets, including houses and constructions on the land: Calculated on the total value of land use rights and value of assets attached to land, value of houses and construction works on land
- Contracts for purchase, sale, donation of other properties, capital contribution with other properties: Calculated on property value
- The written agreement on division of the estate, the document declaring the estate: Calculated on property value
- Loan contract: Calculated on the loan value
- Contract of mortgage of property, mortgage of property: Calculated on property value
Note: In case the property mortgage or mortgage contract contains the loan value, it calculated on the loan value.
- Economic, commercial, investment, business contracts: Calculated on the value of assets or the value of contracts and transactions
Accordingly, depending on the value of the property or the value of the contract, the transaction fee notarized, specifically:
Value of property or value of contract, transaction
Under 50 million VND: 50,000 VND
From 50 million VND – 100 million VND: 100,000 VND
From over 100 million VND – 01 billion VND: 0.1% of the asset value or the value of the contract or transaction
Then From over VND 01 billion – VND 3 billion: VND 01 million + 0.06% of the asset value or contract value, transaction exceeds VND 1 billion
And from over 03 billion VND – 5 billion VND: 2.2 million VND + 0.05% of the asset value or contract value, transactions exceeding 3 billion VND
Then From over 05 billion VND – 10 billion VND: 3.2 million VND + 0.04% of the asset value or contract value, transaction exceeds 5 billion VND
From over 10 billion VND – 100 billion VND: 5.2 million dong + 0.03% of the asset value or contract value, transaction exceeds 10 billion dong.
Fee for receiving and keeping wills
The fee for receiving and keeping wills is 100,000 VND/case
Fee for issue of notarized copies of documents
Fee for issuance of a notarized copy of a document is 5,000 VND/page, from the 3rd page onwards, each page charged 3,000 VND but not more than 100,000 VND/copy.
And Fee for notarization of translations
10,000 VND/page with the first translation
In case the notarization requester needs more than one translation, from the second translation onward, the following collected:
– 5,000 VND/page for the first and second pages;
– From the 3rd page onwards, the fee is 3,000 VND/page, not more than 200,000 VND/copy.
You can also refer to the article about: Management of individual houses in Vietnam construction investment projects or Conditions for establishing a project management board in Vietnam; Establish an apartment building management board in Vietnam.
Related questions
Reasonable price even much cheaper than buying new, helping to save costs for middle-income families.
Beautiful and clean
Carefully check the quality of the apartment:
The cheap old apartments are not well maintained, so the quality is reduced, affecting the safety of the family. Before buying an old apartment, please check the ceiling and walls for cracks, dampness or not, check the toilet for clogged drains, leave zones or not.
You should consider whether the utility services, electricity and water are adequate, you can inquire and consider the attitude of the residents living in that apartment complex.
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