Cancel the real estate purchase and sale contract in Vietnam

Cancellation of a notarized real estate purchase and sale contract is the termination of the conclusion and performance of the contract between the parties to buy and sell real estate. When the contract has been notarized, can it be canceled or not? About the matter “Cancel the real estate purchase and sale contract in Vietnam” Let’s find out with LSX in the article below.

Legal grounds

• Civil Code 2015
• Notarization Law 2014

In any case can unilaterally cancel the contract

Pursuant to Clause 1, Article 423 of the 2015 Civil Code, a party has the right to cancel the deposit contract and not have to pay compensation in the following cases:

• The other party’s breach of the contract is the cancellation condition agreed by the parties;

– The other party seriously violates the contractual obligations;

• Other cases prescribed by law.

In the above cases, the breached party has the right to cancel the deposit contract without being liable for compensation. At that time, the responsibility for compensation belongs to the violating party.

Therefore, if the depositor refuses to perform the contract, you can notify the other party and go to the notary office to request the cancellation of the contract because the depositor is seriously violating the obligations of the deposit contract. lead to failure to achieve the purpose of entering into the contract.

Legal provisions on land use right transfer contracts

• Land law allows land users to transfer (transfer) land use rights (red book) in accordance with the law.

• The signing of a land use right transfer contract must be notarized and authenticated, except in the case of real estate business, the notarization or authentication at the request of the parties.

• The red book sale and purchase contract is notarized or authenticated in accordance with the civil law and the notarization must be done at notarization practice organizations, the authentication is done at the People’s Committee of the province.

Legal value of notarized land purchase and sale contract

• The notarized land sale and purchase contract takes effect from the date it is signed and stamped by the notary at a notary practice organization.

• The validity of the contract is applicable to the parties involved in the contract. In case a dispute arises, the parties have the right to initiate a lawsuit to the court and request the court to settle it in accordance with law, unless otherwise agreed.

• The land use right transfer contract is valid. The facts and events in the notarized contract do not need to be proved, unless the Court declares the contract invalid.

Is it possible to cancel a notarized contract?

Article 51 of the Law on Notarization 2014 stipulates that the amendment, supplement and cancellation of contracts and transactions are notarized as follows:

1. The notarization of amendments, additions or cancellations of notarized contracts or transactions can only be carried out when there is a written agreement and commitment of all participants in the contract or transaction. there.

2. The notarization of amendments, supplements or cancellations of notarized contracts or transactions shall be carried out at notarization practice organizations that have performed the notarization and conducted by notaries. In case the notarial practice organization that has performed notarization terminates its operation, transforms, transfers or dissolves, the notary of the notarial practice organization which is keeping the notarization dossier shall make the amendment. , add, cancel contracts, transactions.

3. Procedures for notarization of the amendment, supplementation or cancellation of a notarized contract or transaction shall be carried out similar to the procedure for notarizing contracts or transactions specified in this Chapter.

Cancel the real estate purchase and sale contract in Vietnam

Cancellation of a notarized contract can only be performed when there is a written agreement and commitment of all parties involved in the contract.

The cancellation of the notarization contract must be done at the notary practice organization that has performed the notarization and conducted by the notary.

In case the notarial practice organization which has performed notarization terminates its operation or is dissolved, the notary of the notarial practice organization which is keeping the notarization dossier shall cancel the contract.

After the contract is canceled, the parties return to each other what was originally received. In case the land purchase and sale is paid by the deposit amount returned to the depositor.

Procedures for canceling the notarized land purchase and sale contract

Profile composition

• Notarization request form (Form No. 01/PYC)

• Land use right transfer contract

• Minutes of agreement on cancellation of land purchase and sale contract

• A copy of the notarization requester’s identity document

• A copy of the certificate of land use right

• Copies of other documents related to the contract that are required by law.

Procedures

1. The person who “requests cancellation of the notarization contract” shall submit a dossier (including documents and papers as above) to a notarial practice organization that has notarized the previous land purchase and sale contract.

2. The notary examines the file. If it is complete and in accordance with the provisions of law, it will be accepted and recorded in the notary book.

3. The notary shall explain to the parties the rights, obligations and legal consequences of the cancellation of the notarized contract. If the contract in which the transaction parties show signs of law violation, the notary shall conduct verification or assessment; In case of failure to clarify, they have the right to refuse notarization.

4. Request the parties to re-read the contract.

5. The parties to the notarized contract agreeing to the cancellation of the contract must sign each page of the contract. The notary requires the parties to the contract to present the originals of the relevant documents in the dossier.

Notarization contract cancellation fee

• Notarization requesters pay notarization fees as prescribed by law.

• Pursuant to Clause 3, Article 4 of Circular 257/2016/TT-BTC stipulating the fee level in case of notarization of contract cancellation or transaction is 25,000 VND.

Notarization of land purchase and sale contracts is a mandatory form, but the cancellation of a notarized contract is still within the scope of the law and allows the parties to cancel the contract but must ensure their rights and interests. justifiable for the parties to the contract.

Can notaries notarize their house sale and purchase contracts?

In Article 7 of the Law on Notary 2014 there are provisions on prohibited acts in notarization as follows:

1. Notaries and notarial practice organizations are strictly prohibited from performing the following acts:

a) Disclose information on notarization contents, unless otherwise agreed by the notarization requester or otherwise provided for by law; using information on notarized contents to infringe upon the legitimate rights and interests of individuals and organizations;

b) Perform notarization in case the purpose and content of the contract, transaction, or translation violates the law or social ethics; instigating, creating conditions for participants of contracts or transactions to perform fake transactions or other fraudulent acts;

c) Notarize contracts, transactions, translations related to the property and interests of themselves or their relatives who are spouses; natural parents, adoptive parents; natural parents, adoptive parents of spouses; natural, adopted, daughter-in-law, son-in-law; grandparent; siblings, siblings of spouses; grandchildren are children of natural or adopted children;

d) Refuse notarization requests without a legitimate reason; harassing and causing difficulties for notarization requesters;

Services of LSX

Prestigious professional services: Firstly, the team of consultants and consultants for many years in the field of civil status, and customer support.

On-time: Certainly, with the motto “Get your lawyer right at your fingertips”, we ensure the service always performs on time. The rights and interests of customers always come first.

Cost: Besides, LSX’s service costs are highly competitive; depending on the nature of the particular case. So, we want our guests to have the best possible service experience. Therefore, costs which guaranteed to be the most suitable and economical for customers.

Confidentiality of client information: Finally, all brand information of client LSX will be 100% confidential.

Please contact us immediately if you have any questions about “Cancel the real estate purchase and sale contract in Vietnam”

Contact LSX

Finally, hope this article is useful for you to answer the question about “Cancel the real estate purchase and sale contract in Vietnam” If you need any further information, please contact  LSX Law firm: at +84846175333 or Email: [email protected]

Please see more

• How to check real estate records according to Vietnam law?
• Settlement and distribution of estates under Vietnam Law
• Procedure for partial transfer of land use rights in Vietnam

Frequently asked questions

Conclusion: So the above is Cancel the real estate purchase and sale contract in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com