To signing a contract directly with the investor, the buyer has the right to “buy a house” through the form of transfer of a commercial house purchase and sale contract; (essentially replacing someone else in the contract signed with the owner). Below are Procedures for transfer of commercial housing purchase and sale contracts in Viet Nam from LSX Law firm.
Law on Housing 2014
The order and procedures for transferring commercial housing purchase; and sale contracts are specified in Article 33 of Circular 19/2016/TT-BXD as follows:
Make a contract transfer document
– Firstly, contents: The transferor and the transferee of the house purchase and sale contract agree to make a written transfer of the house purchase and sale contract with the following contents:
+ Information about the transferor and the transferee.
+ Number, date, and year of the house purchase and sale contract with the investor.
+ Contract transfer price, term and payment method. Rights and obligations of the parties.
+ Dispute resolution.
+ Other agreements.
– Secondly, quantity: The contract transfer document signed by the two parties; is made into 06 copies.
In case the contract transfer document must be notarized; or authenticated there must be an additional 01 copy that keep at the notary and authenticated agency.
Notarize or authenticate the contract
– If the transferor of the house purchase and sale contract is not an enterprise or cooperative with the function of real estate business in accordance with the law on real estate business; the contract transfer document must be notarized; or attest.
– The transferor of the house purchase and sale contract is an enterprise or cooperative with the function of real estate business, the notarization or authentication of the transfer contract is not mandatory but agreed upon by the parties themselves.
– Notarization place: Notarization at the Notary’s Office/Office located in the province or centrally run city where the house is located.
The application for notarization or authentication includes the following documents:
Firstly, 07 originals of transfer documents of house purchase and sale contract, The original of the house purchase and sale contract signed with the investor of the commercial housing construction project; in case of second transfer onwards, the original copy of the transfer contract of the previous transfer must be attached; a transfer case; or a number of houses out of the total number of houses purchased; by the investor under the original contract; a certified true copy of the original contract must be submitted; and the original appendix of the house purchase and sale contract signed with the investor for the transferred houses;
Secondly, a certified copy or copies and must present the original for comparison of the following papers: Identity card or a valid citizen identification card; or passport if an individual; if it is an organization; the certificate of registration of the establishment of that organization;
Lastly, other papers as prescribed by the law on notarization; Certifications such as: Papers proving the status of common property, separate property.
Notarial practice organizations and notarization agencies have the responsibility to notarize; authenticate in the contract transfer document within the prescribed time limit.
Declare taxes, fees and charges
Ask the investor to confirm in the contract transfer document
Submit the application for the Certificate
If the commercial housing purchase and sale contract has agreed with the investor to voluntarily carry out the procedures for applying for a Certificate at a competent state agency permission.
Finally, hope this article “Procedures for transfer of commercial housing purchase and sale contracts” is helpful for you!
Housing transactions include forms of housing purchase, sale, lease, lease purchase, transfer of commercial housing purchase and sale contracts, donation, exchange, inheritance, mortgage, capital contribution, loan, etc. to stay and authorize housing management.
When the parties have signed a house sale and purchase contract, but the State wishes to buy such house for the purposes of national defense, security, national interest or public interest, the President of the People’s Committee shall The provincial level issues the decision to buy the house in advance.
Besides, the purchase and sale prices, conditions and methods of payment for house purchase shall be as agreed upon in the house purchase and sale contract signed by the parties.
The lease of a house under common ownership must have the consent of all owners of such house, except for the case where the joint owner leases out the part of the house under his/her ownership. The joint owners can authorize a representative to sign the tenancy agreement.