Auction is one of the forms to sell, transfer or convert property to others. Those in need can register to participate in the auction to buy the property being auctioned. The law stipulates that certain properties must be put up for auction. some others will be registered by individuals, agencies or organizations with auction organizations. However, not everyone is allowed to participate in the property auction, there are certain conditions that they must meet. So about the matter “Conditions to participate in property auctions in Vietnam”. Let’s find out with LSX in the article below.
Legal grounds
- Law on Property Auction 2016
What is a property auction?
Property auction is a form of asset sale with two or more people participating in an auction according to the principles, order and procedures prescribed in the Law on Property Auction 2016, except for the case specified in Article 49 of the Law on Auctions. property 2016.
Auction participants are individuals or organizations that are eligible to participate in auctions to purchase auctioned assets in accordance with the Law on Property Auction 2016 and other relevant laws.
(Clause 2, 7 Article 5 Law on Property Auction 2016)
Conditions to participate in property auctions in Vietnam
Pursuant to Clauses 1,2,3 of Article 38 of the Law on Property Auction 2016 stipulates that registration to participate in the auction is as follows:
Individuals and organizations register to participate in auctions by submitting valid auction participation documents and deposit to the asset auction organization in accordance with the Law on Property Auction 2016 and other provisions of law. related.
In cases where the law provides for conditions when participating in an auction, auction participants must satisfy such conditions. Auction participants may authorize in writing another person to participate in the auction on their behalf.
In addition to the conditions for registering to participate in the auction prescribed in the Law on Property Auction 2016 and relevant laws, the person having the auctioned asset or the asset auction organization may not place additional requirements and conditions on the auctioneer. participate in the auction.
Accordingly, it can be seen that the conditions for participating in the auction will depend on each auction case.
Auction conditions of specific cases
In cases where the law provides for conditions when participating in an auction, auction participants must satisfy such conditions. Auction participants may authorize in writing another person to participate in the auction on their behalf.
For example, about the conditions for participating in the auction of land use rights.
When participating in the auction of land use rights, organizations and individuals must meet the following specific conditions:
– According to Article 118 of the 2013 Land Law, the specific provisions are as follows: Those who are allocated or leased land by the State according to the provisions of Articles 55 and 56 of the 2013 Land Law. Particularly for the case of land allocation. , land lease for the implementation of investment projects must also ensure the conditions for the implementation of investment projects as prescribed in Article 58 of the Land Law and Article 14 of Decree No. 43/2014/ND-CP. As for the case of land allocation or land lease to select investors to implement projects on construction of commercial houses, construction of new urban areas or rural residential areas, organizations or individuals participating in the auction in addition to the conditions mentioned above, they must meet the conditions specified in Article 21 of the Law on Housing 2014 and the law on real estate business.
– The second condition is to ensure the conditions for the implementation of the investment project as prescribed in Article 58 of the Land Law 2013 for the case of land allocation or land lease for the implementation of the investment project.
– A household or an organization may only have one representative participate in the auction for each auctioned land plot, and an organization may only have one auction participant; with two or more units belonging to the same Corporation, only one may participate in the auction; Corporations with member companies, parent companies and subsidiaries, joint ventures with one party contributing capital in a joint venture may only have one enterprise participate in the competition for the same land plot.
– Not in the case of not being registered to participate in the auction as prescribed in Clause 4, Article 38 of the Law on Property Auction.
– Having registered to participate in the auction by submitting a valid auction participation dossier and a deposit to the organization conducting the auction of land use rights in accordance with the Law on Property Auction, this regulation and other regulations. other provisions of other relevant laws.
The auctioneer is not eligible to participate in the auction
However, in addition to these conditions, in order to participate in the auction, participants must not be excluded from participating in the auction. Specifically:
Those who are not registered to participate in the auction are specified in Clause 4, Article 38 of the Law on Property Auction 2016 as follows:
– Persons who do not have civil act capacity, people who have lost or have limited civil act capacity, people who have difficulties in cognition or behavior control or who at the time of registration to participate in the auction do not accept be aware and control their own behavior;
– People working in the asset auction organization conducting the auction;
– Father, mother, wife, husband, child, biological brother, sister, younger brother of the auctioneer administering the auction;
– Persons directly assessing and valuing assets;
– Father, mother, wife, husband, child, biological brother, sister, younger brother of the person who directly assesses and appraises the property;
The person authorized by the property owner to handle the property, the person who has the right to decide on the sale of the property, the person who signs the asset auction service contract, the person who has the right to decide on the sale of another person’s property according to the provisions of law. law;
– Father, mother, wife, husband, child, biological brother, sister or younger brother of the person specified at Point c, Clause 4, Article 38 of the Law on Property Auction 2016;
– Persons who do not have the right to purchase auctioned assets in accordance with the law applicable to that type of property.
Auction participants are not disqualified from participating
Auction bidders will be disqualified from participating in one of the following violations:
– Providing false information and documents; using forged documents to register to participate in the auction, participate in the auction;
– Collusion, connection with auctioneers, asset auction organizations, auctioneers, other auction participants, other individuals and organizations to lower prices or falsify asset auction results property;
– Obstructing asset auction activities; causing disturbance or disorder at the auction;
– Threatening or coercing auctioneers and other auction participants in order to falsify asset auction results;
– Other prohibited acts in accordance with relevant laws.
How to register to participate in property auction?
Article 37 of the Law on Property Auction 2016 stipulates that registration to participate in asset auctions is as follows:
– Individuals or organizations register to participate in auctions by submitting valid auction participation documents and deposit to the asset auction organization in accordance with this Law and other relevant laws. mandarin.
– In cases where the law provides for conditions when participating in auctions, auction participants must satisfy such conditions. Auction participants may authorize in writing another person to participate in the auction on their behalf.
– The asset auction organization sells auction participation dossiers, receives auction participation dossiers during office hours, continuously from the date of listing the asset auction until 02 days before the auction opening date
In which we can refer to the procedure for registration of auction of land use rights below:
– The unit conducting the land use right auction shall post up the paper auction registration dossier at the agency’s office and provide the digital auction registration dossier for public listing. declared on the web portal of the Department of Natural Resources and Environment (Hanoi Center for Information Technology, Resources and Environment) and the portal of the People’s Committee of the district where the auctioned land is located. Dossier of registration for participation in the auction can be printed and downloaded free of charge (including: dossier; application form for participation in the auction made according to Forms DG01, DG02 enclosed with this Regulation; account information, email address, etc.) , address to receive registration documents directly or by registered mail of the auctioneer and instructions on how to register to participate in the online auction or by registered mail).
– The time for public posting of the dossier of invitation to auction of land use rights is from the date of announcement to the end of the auction of land use rights.
– The registration to participate in the auction is done through the following forms: Depositing a deposit directly at the auction-conducting unit or into the auction-conducting unit’s account, submitting the registration dossier to participate in the auction. participate in the auction directly at the unit conducting the auction or by email or by registered mail.
The City People’s Committee encourages units assigned to organize auctions of land use rights to conduct auctions in the online form.
Regulations of the asset auction
According to Article 34 of the Law on Property Auction 2016, the auction regulations are as follows:
– The asset auction organization shall issue the Auction Regulations applicable to each auction before the listing date of the asset auction.
– Regulations on the auction include the following main contents:
+ Name of property or list of assets, quantity and quality of auctioned assets; where the auctioned property is located; papers on ownership and right to use the auctioned assets;
+ Time and place to view auctioned assets;
+ Time and place of selling auction participation dossiers;
+ The starting price of the auctioned asset in case the reserve price is public;
+ Money to buy auction participation documents, advance deposit;
+ Time, place, conditions and method of registration to participate in the auction;
+ Time and location of the auction;
+ Auction form, auction method;
+ Cases of disqualification from participating in auctions; In cases where the deposit cannot be refunded.
– The asset auction organization is responsible for publicly announcing the Auction Regulations.
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Frequently asked questions
The asset auction is conducted in accordance with Article 6 of the Law on Property Auction 2016 as follows:
Comply with the provisions of the law.
Ensuring independence, honesty, publicity, transparency, fairness and objectivity.
To protect the legitimate rights and interests of auctioneers, auction participants, auction winners, purchasers of auctioned assets, asset auction organizations and auctioneers.
The auction must be managed by an auctioneer, except for the case where the auction is conducted by the asset auction council.
The starting price of the auctioned asset is determined at the time:
Before signing the asset auction service contract;
Before establishing the asset auction council, unless otherwise provided for by law;
Before the organization in which the State owns 100% of the charter capital, established by the Government to deal with bad debts of the credit institution by self-auction.
The starting price of the auctioned asset is determined as follows:
For assets that must be put up for auction, the starting price is determined according to the provisions of law applicable to that type of asset;
For auctioned assets voluntarily by agencies or organizations, the starting price shall be determined by the person having the auctioned asset himself or by authorizing the asset auction organization or another individual or organization.
Auction bidders are strictly prohibited from committing the following violations:
Providing false information and documents; using forged documents to register to participate in the auction, participate in the auction;
Collusion, connection with auctioneers, asset auction organizations, auctioneers, other auction participants, other individuals and organizations to lower prices or falsify asset auction results property;
Obstructing asset auction activities; causing disturbance or disorder at the auction;
Threatening or coercing auctioneers and other auction participants in order to falsify asset auction results;
Other prohibited acts in accordance with relevant laws.
Conclusion: So the above is Conditions to participate in property auctions in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
