Client: Hello Lawyer! I am a familiar reader of Lawyer X. I have a few questions that I would like to seek advice from. I am looking to buy a house. I still don’t know how and how to make a contract. So I want to ask the Lawyer what is the “Regulations on housing purchase and sale contracts” according to the law?
Lawyer: Thank you for trusting and coming to us. Here we go to find out what you are interested in!
Legal grounds
- Civil Code 2015
- Housing Law 2014
General provisions on real estate purchase and sale contracts
Pursuant to the provisions of Article 430 of the 2015 Civil Code, the property purchase and sale contract is as follows:
A property sale and purchase contract is an agreement between parties whereby the seller transfers ownership of the property to the buyer and the buyer pays the seller.
Contracts on housing purchase and sale, house purchase and sale for other purposes shall comply with the provisions of this Code, the Law on Housing and other relevant laws.
Any property specified in this Code can be the subject of a sale and purchase contract. Where according to the provisions of law, property is prohibited or restricted from being transferred, the property that is the subject of the sale and purchase contract must comply with such provisions. The property for sale is owned by the seller or the seller has the right to sell.
That is, the house here is the property and is the subject of the house sale and purchase contract. This is a property that is neither prohibited nor restricted from transfer. However, the house must be owned by the seller, that is, having land papers, red books, and land use rights.
Price and payment method
- The price and payment method shall be agreed upon by the parties or determined by a third party at the request of the parties. Where the law stipulates that the price and payment method must comply with the regulations of a competent state agency, the agreement of the parties must be consistent with that provision.
- In case there is no agreement or the agreement is unclear on the price and payment method, the price is determined according to the market price, the payment method is determined according to the custom at the place and time of entering into the contract.
Location of property delivery
The place of performance of obligations shall be agreed upon by the parties.
If there is no agreement, the place of performance of the obligation is determined as follows:
Where immovable property is located, if the subject matter of the obligation is immovable property;
The obligee’s place of residence or domicile, if the subject matter of the obligation is not immovable property.
When the obligee changes the place of residence or head office, it must notify the obligee and bear the increased costs resulting from the change of domicile or head office, unless otherwise agreed.
Time limit for performance of purchase and sale contract
- The time limit for performance of the sale and purchase contract shall be agreed upon by the parties. The seller must deliver the property to the buyer on time as agreed; The seller may only deliver the property before or after the time limit if the buyer agrees.
- When the parties do not agree on the time limit for property delivery, the buyer has the right to request the seller to hand over the property and the seller also has the right to request the buyer to receive the property at any time, but must notify each other in advance. reasonable time.
- Buyer pays for the purchase according to the agreed time. If the payment time is unknown or unclear, the buyer must pay immediately at the time of receipt of the purchased property or receipt of documents certifying the ownership of the property.
Regulations on housing purchase and sale contracts
According to the provisions of Article 121 of the Law on Housing 2014, the contents of a house purchase and sale contract are as follows:
A housing contract shall be agreed upon by the parties and must be made in writing, including the following contents:
- Full names of individuals, names of organizations and addresses of parties;
- Describe the characteristics of the transaction house and the characteristics of the residential land plot associated with that house. For the sale and purchase contract, the lease-purchase contract of the apartment, the parties must clearly state the part under common ownership and common use; use area under private ownership; floor area for apartment construction; the use purpose of the part under common ownership and common use in the apartment building in accordance with the original approved design purpose;
- Value of capital contribution, house transaction price if the contract has agreement on the price; in case of house purchase, sale, lease or lease-purchase where the State has regulations on prices, the parties must comply with such regulations;
- Time limit and method of payment if it is the case of house sale, purchase, lease, lease purchase, transfer of house purchase and sale contract;
- Housing delivery time; the housing warranty period if it is a purchase or lease-purchase of a newly built house; term of lease, lease-purchase, mortgage, lending, stay-at-home, authorization for housing management; capital contribution period;
- Rights and obligations of the parties;
- Commitments of the parties;
- Other agreements;
- The effective date of the contract;
- Date, month and year of contract signing;
- Signatures and full names of the parties. If it is an organization, it must be stamped (if any) and clearly state the position of the signer.
Do you need to notarize or certify a house sale and purchase contract?
- In case of purchase, sale, donation, exchange, capital contribution, mortgage of houses, transfer of commercial housing purchase and sale contracts, the contract must be notarized or authenticated, except for the case specified in Clause 2 of this Article. this.
For the transactions specified in this Clause, the effective time of the contract is the time of contract notarization and authentication. - For the case of organizing donation to houses of gratitude or charity houses; purchase, sale, lease purchase of state-owned houses; purchase, sale, lease-purchase of social housing, housing in service of resettlement; capital contribution by housing with one side being an organization; For lease, lending, accommodation, or authorization for housing management, the contract is not required to be notarized or authenticated, unless the parties so request.
For transactions specified in this Clause, the effective time of the contract shall be agreed upon by the parties; If the parties do not agree, the effective time of the contract is the time of signing the contract. - The document of house inheritance is notarized or authenticated according to the provisions of civil law.
- The notarization of housing contracts is carried out at a notarization practice organization; The authentication of housing contracts shall be carried out at the People’s Committee of the commune where the house is located.
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Frequently asked questions
In case of purchase, sale, donation, exchange, capital contribution, mortgage of houses, transfer of commercial housing purchase and sale contracts, the contract must be notarized and authenticated and the effective time of the contract is the date of purchase and sale. notarization points, contract certification.
The authentication of housing contracts shall be carried out at the People’s Committee of the commune where the house is located.
Conclusion: So the above is Regulations on housing purchase and sale contracts in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
