Luật Kinh doanh Bất động sản 2014 văn bản tiếng Anh - Law on real estate trading of Vietnam.
Tải về toàn văn Luật Kinh doanh Bất động sản tiếng Anh: TẠI ĐÂY
THE NATIONAL ASSEMBLY SOCIALIST REPUBLIC OF VIETNAM------- Independence - Freedom - Happiness
No. 66/2014/QH13 Hanoi, November 25, 2014
LAW ON REAL ESTATE TRADING
Pursuant to Constitution of
Socialist Republic of Vietnam;
The National Assembly issues the Law
on real estate trading.
Chapter I
GENERAL
PROVISIONS
Article 1. Scope
This Law stipulates real estate
trading, rights and obligations of organizations and individuals to conduct
real estate trading and state management of real estate trading.
Article 2. Regulated entities
1. Organizations and individuals
conducting real estate trading in Vietnam.
2. Organizations and individuals
involved in real estate trading in Vietnam.
Article 3. Interpretation of terms
For the purposes of this Law, these
terms below shall be construed as follows:
1. Real estate tradingmeans
capital investment in building, purchasing, and receiving real estate for sale,
for transfer, for lease, for sublease, or for lease purchase; provision of real
estate brokerage services; real estate trading floor services; real estate
counseling services or real estate management for profit purposes.
2. Real estate brokerage means
acts as an intermediary between parties in real estate sale, transfer, lease,
sublease, lease purchase transactions.
3. Existing house or building
(hereinafter referred to as the building) means any construction has been
completed and put into operation.
4. Off-the-plan building means
any building which is under construction and has not been permitted to put into
operation.
5. Real estate management service
means acts as an attorney in management, enjoyment and disposal of real
estate for building owners or entities having land use rights (hereinafter
referred to as land owner).
6. Real estate trading floors mean
places where real estate sale, transfer, lease, sublease, or lease purchase
transactions are carried out.
7. Lease purchase agreement means
an agreement between parties, whereby the lessee shall pay an option fee to the
lessor and be entitled to use a building; the remaining payment shall be
considered as the monthly payment; the lessee shall acquire ownership of that
building if he pays off the total amount.
8. Real estate counseling
services mean provision of assistance in real estate trading at the request
of parties.
Article 4. Rules for real estate
trading
1. Contracting parties have equality
before the law; freedom to conclude a contract on the basis of respect for
their legitimate rights and interests provided that such agreement is not in
contravention of law.
2. Real estate to be put on the
market must meet all the requirements prescribed in this Law.
3. The real estate trading must be
conducted honestly, publicly and transparently.
4. Any organization or individual is
entitled to conduct real estate trading in the area beyond national defense and
security protection zone according to land-use planning approved by competent
agencies.
Article 5. Types of real estate to
be put on the market
Types of real estate to be put on
the market must meet all the requirements prescribed in this Law (hereinafter
referred to as real estate):
1. Existing buildings of
organizations or individuals;
2. Off-the-plan buildings of
organizations or individuals;
3. Buildings which are public
properties to be put on the market permitted by competent agencies;
4. Types of lands whose land-use
rights are permitted to be transferred (hereinafter referred to as land),
leased, sublet as prescribed in law on land.
Article 6. Disclosure of real estate
to be put on the market
1. An enterprise conducting real
estate trading (hereinafter referred to as real estate enterprise) shall take
responsibility for disclosure of real estate according to the following forms:
a) On the website of the real estate
enterprise;
b) At the Head office of Project
management board regarding investment project on real estate trading;
c) On the real estate trading floors
regarding real estate trading through trading floors.
2. Information about real estate
contains:
a) Type of the real estate;
b) Location of the real estate;
c) Information about planning
related to the real estate;
d) Scale of the real estate;
dd) Characteristics, utilities and
quality of the real estate; information about each utility and general use area
if the real estate is a mixed-use building or an apartment building.
e) Actual conditions of
constructions or services related to the real estate;
g) Documents on ownership of
buildings and land and documents related to real estate construction; guarantee
agreement, written permission for off-the-plan building sale or lease purchase
transactions granted by competent agencies;
h) Restrictions on ownership of or
rights to use real estate (if any);
i) Real estate sold, transfer,
lease, sublease, lease purchase price.
Article 7. Policies of the State
regarding real estate trading
1. The State encourages
organizations and individuals of all economic sectors to invest in real estate
trading in accordance with the national and local socio-economic development
objectives in each period.
2. The State shall exempt or reduce
land use levies or land rent, or give preferential credit to organizations or
individuals who invest in social housing and projects given investment
incentives.
3. The State shall invest in
technical infrastructures on the outer perimeter of projects; giving investment
support to technical infrastructures on the inner perimeter of project given
investment incentives.
4. The State shall invest and
encourage organizations and individuals to invest in urban public works or social
constructions related to real estate projects.
5. The State shall provide
mechanisms and policies to stabilize the housing market in case of
fluctuations, thereby guaranteeing benefits of investors and clients.
Article 8. Prohibited acts
1. Real estate trading does not
satisfy requirements prescribed in this Law.
2. The real estate projects are not
complied with planning approved by competent agencies.
3. Failure to disclose, or
untruthfully disclose about the real estate.
4. Fraud and deception in real
estate trading.
5. Illegal mobilization of funds;
illegal use of mobilized capital of organizations or individuals and option fee
of off-the-plan real estate buyers or lessees for improper purposes.
6. Failure to fulfill or completely
fulfill financial obligations to the State.
7. Grant and use of real estate
broker license in contravention of the provisions of this Law.
8. Collection of charges, fees and
money amounts related to real estate trading in contravention of the provisions
of law.
Chapter II
EXISTING
REAL ESTATE TRADING
Section 1. GENERAL PROVISIONS
Article 9. Requirements in terms of
real estate to be put on the market
1. A building to be put on the
market shall satisfy the following requirements:
a) The ownership of the building on
land is registered in the Certificate of land use right (hereinafter referred
to as Certificate of land). Regarding an off-the-plan building in the real
estate project, it is only required to have the Certificate of land as
prescribed in regulations of law on land.
b) There is no dispute about the
land and ownership of the building on land.
c) The building is not distrained.
2. Types of land permitted to be put
on the market shall satisfy the following requirements:
a) There are Certificates of land as
prescribed in regulations of law on land.
b) There is no dispute about
the land.
c) The land is not distrained;
d) The land use term is still
unexpired.
Article 10. Requirements in terms of
organizations or individuals conducting real estate trading
1. Any organizations or individuals
wish to conduct real estate trading shall set up enterprises or cooperatives
(hereinafter referred to as enterprises) and have legal capital not smaller
than VND 20 billion, excluding cases prescribed in Clause 2 of this Article.
2. Any organizations, households and
individuals who conduct small-scale or irregular transactions of real estate
sale, transfer, lease-out, and lease purchase shall not be required to set up
enterprises, but they shall make tax declaration as prescribed.
3. The Government shall provide
guidance on this Article.
Article 11. Scope of real estate
trading conducted by Vietnamese organizations, individuals, overseas Vietnamese
or foreign-invested enterprises.
1. Any Vietnamese organizations and
individuals may conduct real estate trading under following forms:
a) Purchase buildings for sale, for
lease, or for lease purchase;
b) Rent buildings for sublease;
c) Build houses on land which is
allocated by the State for sale, for lease, or for lease purchase; transfer the
land which is divided into smaller lots for sale as prescribed in law on land;
build technical infrastructures of cemetery on that land for transfer of both
the land and the technical infrastructures;
d) Build houses on the land which is
leased by the State for lease; build houses or constructions other than houses
on such land for sale, for lease, or for lease purchase;
dd) Build houses on land which is
recognized by the State for sale, for lease, or for lease purchase;
e) Build buildings on land which is
transferred from organizations, households or individuals for sale, for lease,
or for lease purchase;
g) Build buildings on land which is
leased from organizations, households or individuals for lease according to
proper land use.
h) Receive total or a part of real
estate project from investors to build buildings on it for sale, for lease, or
for lease purchase;
i) Receive or rent land from
organizations, households or individuals to build technical infrastructures on
it for transfer or lease of both the land and the infrastructure.
2. Overseas Vietnamese may conduct
real estate trading in the following forms:
a) Forms prescribed in Point b, d, g
and h Clause 1 of this Article;
b) Build houses on land which is
allocated by the State for sale, for lease, or for lease purchase;
c) Build buildings on land which is
leased out or transferred in industrial parks, industrial complexes,
export-processing zones, hi-tech zones, or economic zone for trading for the
proper land use.
3. Foreign-invested enterprises may
conduct real estate trading in the following forms:
a) Forms prescribed in Point b, d, h
Clause 1 and Point b Clause 2 of this Article;
b) Build buildings on land which is
leased out or transferred in industrial parks, industrial complexes,
export-processing zones, hi-tech zones, or economic zone for trading for the
proper land use.
Article 12. Requirements in terms of
real estate projects to be put on the market
1. The real estate projects shall be
complied with land-use planning, urban planning, rural construction planning
and follow the plan approved by competent agencies.
2. Procedures for real estate
projects to be put on the market shall be complied with regulations of laws on
investment, land, construction, urban area, housing and corresponding
regulations of law.
3. Real estate projects shall be
carried out on schedule with quality assurance as prescribed in laws on
construction.
Article 13. Responsibility of
investors of real estate projects
1. Invest in construction, trading,
management and operation of real estate projects as prescribed.
2. Ensure financial resources to run
the projects on approved schedule.
3. A house or a building is only
transferred to clients if that building or other infrastructure is finished on
schedule as specified in the approved project and they are connected to general
infrastructure in such area; in case a house or an unfinished building is
transferred, whole outside of such house or construction must be completed.
4. Apply for Certificate of land,
ownership of houses and property on land granted to the buyer or the renter and
issued by competent agencies within 50 days from the day on which the house or
the building is transferred to the buyer or from the deadline of lease
purchase, except that the buyer or the renter requests in writing that they
shall apply themselves for the Certificate.
5. Do not authorize any organization
to participate in investment cooperation, joint venture, association, business
cooperation or capital contribution to sign the agreement on real estate sale,
transfer, or lease purchase.
Article 14. Entities entitled to
purchase, receive, rent, or lease purchase real estate from real estate
enterprises
1. Any Vietnamese organization or
individual may purchase, receive, rent, or lease purchase real estate.
2. Overseas Vietnamese or foreign
entities may rent real estate for use; may purchase, rent, lease purchase
houses as prescribed in laws on housing.
Overseas Vietnamese or
foreign-invested companies may purchase, lease purchase buildings for use for
offices or business facilities according to their proper utilities.
3. Overseas Vietnamese or real
estate foreign-invested companies may purchase, receive, rent, or lease
purchase real estate for business as prescribed in Article 11 of this Law.
Article 15. Real estate sale,
transfer, lease, and lease purchase price
Real estate sale, transfer, lease,
and lease purchase price shall be agreed by contracting parties and stated in
the agreement. If the State stipulates regulations on the price, the
contracting parties shall comply with those regulations.
Article 16. Payment for real estate
transactions
1. The payment for real estate
transactions shall be agreed by contracting parties and followed the
regulations of laws on payment.
2. Penalties and compensation for damage
caused by late payment from the buyer, transferee, lessee, or renter, or late
real estate transfer from the seller, transferor, or lessor shall be agreed by
contracting parties and stated in the agreement.
Article 17. Real estate trading
agreement
1. Types of real estate trading
agreement:
a) Building sale agreement;
b) Building rent agreement;
c) Lease purchase agreement;
d) Land transfer, lease, and
sublease agreement;
dd) Agreement on transfer of all or
a portion of real estate project.
2. A real estate trading agreement
must be made in writing. The agreement notarizing or authenticating shall be
agreed by contracting parties, excluding building sale or lease purchase
agreements or land transfer agreements concluded by households and individuals
prescribed in Clause 2 Article 10 of this Law.
3. The effective date of the
agreement shall be agreed and stated in the agreement by contracting parties.
If the agreement has been notarized or authenticated, the effective date of the
agreement is the notarizing or authenticating date. If the contracting parties
have not agreed or the agreement has been not notarized or authenticated, the
effective date is the date on which the agreement is signed.
4. The Government shall stipulate
types of real estate trading agreement.
Article 18. Content of building
sale, lease, lease purchase agreement;
A building sale, lease, lease
purchase agreement shall contain:
1. Names and addresses of
contracting parties;
2. Information about the real
estate;
3. Sale, lease, or lease purchase
price;
4. Payment method and deadline;
5. Real estate transfer deadline and
enclosed documents;
6. Warranty;
7. Rights and obligations of
contracting parties;
8. Liability for any breaches of
agreement;
9. Penalties for any breaches of
agreement;
10. Cases in which the agreement is
terminated and solutions;
11. Dispute settlement;
12. Effective date of the agreement.
Section 2. BUILDING SALE
Article 19. Rules for building sale
1. The selling of a building must
associate with the piece of land.
2. An apartment building or a
mix-used building shall be sold according to the rules as follows:
a) Delimit general area, equipment
and private area and equipment of owners;
b) Any buyer purchasing apartments
in the apartment buildings or mixed-use buildings shall have joint rights to
use the land. They shall agree about stable and prolonged use duration, or
agree about land lease duration regarding lease land.
3. The buyer of buildings,
apartments, area in apartment buildings or mix-used buildings shall be granted
Certificate of land, ownership of land and property on land.
4. The building sale documents shall
be submitted together with documents on buildings.
5. The date of ownership transfer is
the date on which the seller transfers the building to the buyer or the buyer
pays off the total amount to the seller, unless otherwise agreed.
Article 20. Warranty on the sold
building
1. The seller must provide a
warranty for the sold building. If the building is under warranty, the seller
may request organizations or individuals who build constructions or provide
equipment to take responsibility for guarantee as prescribed in law on
construction.
2. The building warrant period shall
be complied with regulations of laws on construction and housing; if the
warranty period expires, contracting parties may negotiate again.
Article 21. Rights of the seller
1. Request the buyer to receive the
building by the deadline specified in the agreement.
2. Request the buyer to pay off the
total amount by the deadline and method specified in the agreement; in case
there is no agreement, the buyer may only pay not exceeding 95% of amount of
agreement value if he has not been granted Certificate of land, ownership of
land and property on land.
3. Request the buyer to cooperate in
completion of procedures for sale by the agreed deadline.
4. Do not transfer the building if
the total amount is not paid off, unless otherwise agreed
5. Request the buyer to compensate
for damage caused by the buyer’s fault.
6. Exercise other rights specified
in the agreement.
Article 22. Obligations of the
seller
1. Notify the buyer of restrictions
on ownership of the building (if any).
2. Keep the building in good
condition during the period prior to transfer to the buyer.
3. Follow procedures for building sale
as prescribed in regulations of law.
4. Transfer the building to the
buyer by the deadline with quality and other conditions as specified in the
agreement; transfer the Certificate of land, ownership of land and property on
land and related documents under the agreement.
5. Provide warranty on the sold
building as prescribed in Article 20 of this Law.
6. Pay compensation for damage
caused by the seller.
7. Fulfill financial obligations to
the State as prescribed in regulations of law.
8. Fulfill other obligations
specified in the agreement.
Article 23. Rights of building buyer
1. Request the seller to complete
procedures for building sale by the deadline specified in the agreement.
2. Request the seller to transfer
the building by the deadline with quality and other conditions specified in the
agreement; transfer the Certificate of land, ownership of land and property on
land and related documents under the agreement.
3. Request the seller to provide
warranty on the sold buildings as prescribed in Article 20 of this Law.
4. Request the seller to Pay
compensation for damage caused by the building are not transferred on schedule
with quality and other commitment specified in the agreement.
5. Exercise other rights specified
in the agreement.
Article 24. Obligations of building
buyer
1. Pay off the total amount for the
building sale by the deadline and method under the agreement.
2. Receive buildings together with
the Certificate of land, ownership of land and property on land and related
documents by the agreed deadline.
3. Cooperate with the seller in
completion of procedures for sale by the agreed deadline.
4. If the leased building is bought,
the rights and benefits of lessee under the lease agreement shall be ensured
within the lease term.
5. Pay compensation for damage
caused by the buyer.
6. Fulfill other obligations
specified in the agreement.
Section 3. BUILDING LEASE
Article 25. Rules for building lease
Any building which is leased must
meet requirements in terms of quality, safety, environmental hygiene and other
necessary services for normal use according to utilities, design and agreement
specified in the contract.
Article 26. Rights of the lessor
1. Request the lessee to receive the
building by the deadline specified in the agreement.
2. Request the lessee to pay off the
total amount by the deadline and the method under the agreement.
3. Request the lessee to preserve
and use the building under the agreement.
4. Request the lessee to pay
compensation for damage or repair damage caused by the buyer’s fault.
5. Renovate or upgrade leased
building with the consent of the lessee, but without interfering with the use
of the building by the lessee.
6. Unilaterally terminate the
agreement as prescribed in Clause 1 Article 30 of this Law.
7. Request the lessee to return the
building upon expiry of the lease term; if the agreement does not specify the
lease duration, the building has been returned if the lessee is informed 6
months in advance.
8. Exercise other rights specified
in the agreement.
Article 27. Obligations of the
lessor
1. Transfer the building to lessee
under agreement and instruct the lessee to use the building properly according
to their utilities and design.
2. Ensure that the lessee may use
buildings stably within the lease duration.
3. Maintain and repair buildings
periodically or under agreement; if the lessor’s failure to maintain or repair
the building cause damage for the lessee, the lessor shall pay damages.
4. Do not unilaterally terminate the
agreement if the lessee fulfills his/her contractual obligations, unless the
lessee agrees to termination the agreement.
5. Pay compensation for damage
caused by the lessor.
6. Fulfill financial obligations to
the State as prescribed in regulations of law.
7. Fulfill other obligations
specified in the agreement.
Article 28. Rights of the lessee
1. Request the lessor to transfer
buildings by the deadline specified in the agreement.
2. Request the lessor to provide
sufficient and truthful information about the building.
3. Exchange the building which is
renting to other lessee with the consent of the lessor in writing.
4. Sublet a part of total of the
building, if it is agreed in the agreement or the lessor agrees in writing.
5. Keep renting as conditions agreed
with the lessor in case the ownership is changed.
6. Request the lessor to repair the
building in case the building’ damage is not caused by the lessee’s fault.
7. Request the lessor to Pay
compensation for damage caused by the lessor’s fault.
8. Unilaterally terminate
performance of the agreement as prescribed in Clause 2 Article 30 of this Law.
9. Exercise other rights specified
in the agreement.
Article 29. Obligations of the
lessee
1. Preserve and use buildings
properly with their utilities, design and agreement specified in the agreement.
2. Pay the rent in full for the
building sale by the deadline and the method under the agreement.
3. Repair damage of the building
caused by the lessee.
4. Return the building to the lessor
under the agreement.
5. Do not renovate or demolish the
building without the consent of the lessor.
6. Pay compensation for damage
caused by the lessee.
7. Fulfill other obligations
specified in the agreement.
Article 30. Unilateral termination
of the lease agreement.
1. The lessor may unilaterally
terminate performance of building lease agreement if the lessee commits the
following acts:
a) Fail to pay the rent after 3
months from the deadline as specialized in the agreement without approval of
the lessor;
b) Use the building for the improper
purpose;
c) Intentionally cause serious
damage to the leased building;
d) Repair, renovate, upgrade,
exchange or sublet the building without any agreement or the lessor’s agreement
in writing.
2. The lessee may unilaterally
terminate performance of building rent agreement if the lessee commits the
following acts:
a) Failure to repair the building
when it threatens safety or causes damage for the lessee;
b) Unreasonable increase of rent;
c) The right to enjoyment of the
building is restricted by the interests of a third person.
3. Any party which unilaterally
terminates the lease agreement must notify the other party for at least 01
month prior to the termination, unless otherwise agreed.
Section 4. LEASE PURCHASE AGREEMENT
Article 31. Rules for lease purchase
agreement
1. Any buildings for under a lease
purchase agreement must meet requirements in terms of quality, safety,
environmental hygiene and other necessary services for proper use according to
utilities, design and agreement specified in the agreement.
2. The lease purchase must be
associated with the land.
3. Contracting parties may reach an
agreement on shortening the duration of the lease purchase agreement ahead of
schedule.
Article 32. Rights of the lessor
1. Request the lessee to receive the
building according to the agreed schedule.
2. Request the lessee to pay off the
total amount by the agreed deadline and method.
3. Request the lessee to cooperate
in completion of procedures for lease purchase by the agreed deadline.
4. Request the lessee to Pay
compensation for damage at the lessee’s fault.
5. Retain the ownership of the
building when the lessee fails to pay off the total amount for lease purchase.
6. Request the lessee to preserve
and use the building throughout the duration of the agreement.
7. Exercise other rights specified
in the agreement.
Article 33. Obligations of the
lessor
1. Notify the lessor of restrictions
on ownership of the building (if any).
2. Follow procedures for lease
purchase as prescribed in regulations of law.
3. Keep the building in good
condition during the period in which it is not transferred to the lessee.
Maintain and repair the building periodically or as agreed by the contracting
parties.
4. Transfer the building and related
documents to the lessee by the deadline with the quality and other conditions
specified in the agreement.
5. Apply for Certificate of land,
ownership of houses and property on land granted to the lessee, except that the
lessee requests in writing that they shall apply themselves for the
Certificate.
6. Provide warranty on the building
as prescribed in Article 20 of this Law.
7. Pay compensation for damage
caused by the lessor.
8. Fulfill financial obligations to
the State as prescribed in regulations of law.
9. Enable the lessee to assign their
lease purchase agreement;
10. Fulfill other obligations
specified in the agreement.
Article 34. Rights of the lessee
1. Request the lessor to provide
sufficient and truthful information about the building.
2. Request the lessor to transfer
the building and related documents under agreement; complete the procedures for
application for Certificate of land, ownership of land and property on land
when the lease purchase duration expires.
3. Sublet a part of total of the
building or transfer the lease purchase agreement.
4. Request the lessor to repair the
building in case the building’s damage not caused by the lessee’s fault.
5. Request the lessor to pay
compensation for damage caused by the lessor’s fault.
6. Acquire ownership of the building
from the date on which the lessor receives payment in full.
7. Exercise other rights specified
in the agreement.
Article 35. Obligations of the
lessee
1. Preserve and use the building
properly as specified in the agreement.
2. Pay off the total amount by the
agreed deadline and method.
3. Cooperate with the lessor in
completion of procedures for lease purchase by the agreed deadline.
4. Do not renovate or demolish the
building without the agreement of the lessor.
5. Repair damage of the building
caused by the lessor within the duration of lease purchase agreement.
6. Pay compensation for damage
caused by the lessor.
7. Notify the lessor of a part or
total of the building sublease; the transfer of lease purchase agreement.
8. Fulfill other obligations
specified in the agreement.
Article 36. Transfer of lease
purchase agreement
1. The lessee may transfer the lease
purchase agreement when the application for Certificate of land, ownership of
houses and property on land granted to the lessee has not submitted to
competent agencies. The transfer of lease purchase agreement must be made in
writing and certified by the lessor.
2. The transferee of lease purchase
agreement may resume rights and obligations of the lessee. The lessor must
enable contracting parties to transfer the agreement and do not collect any charges
relating to the transfer of agreement.
3. The transferee shall be granted
the Certificate of land, ownership of houses and property on land by competent
agencies as prescribed law on land.
4. The transfer of agreement
prescribed in this Article shall not be applicable to social house lease
purchase agreement.
5. The Government shall provide
guidance on this Article.
Section 5. LAND TRANSFER, LEASE AND
SUBLEASE
Article 37. Rules for land transfer,
lease and sublease
1. The land transfer, lease, and sublease
must conform to requirements prescribed in Clause 2 Article 8 of this Law.
2. The land transfer, lease, and
sublease must comply with regulations of law on land use purpose, land use term
and land registration.
Article 38. Rights of the transferor
1. Request the transferee to pay off
the total amount on schedule with the method under the agreement.
2. Request the transferee to receive
the land on schedule specified in the agreement.
3. Request the transferee to Pay
compensation for damage caused by the transferee’s fault.
4. Do not transfer the land if the
payment in full has not been given, unless otherwise agreed.
5. Exercise other rights specified
in the agreement.
Article 39. Obligations of the
transferor
1. Provide sufficient and true
information about the land and take responsibility for supplied information.
2. Transfer the proper area,
location and condition of land as specified in the agreement to the transferee.
3. Register the land as prescribed
in law on land and give the Certificate of land, ownership of houses and
property on land to the transferee, except that the transferee requests in
writing that they shall conduct the procedures for the Certificate themselves.
4. Pay compensation for damage
caused by the transferor.
5. Fulfill financial obligations to
the State as prescribed in regulations of law.
6. Fulfill other obligations
specified in the agreement.
Article 40. Rights of the transferee
1. Request the transferor to provide
sufficient and truthful information about the land.
2. Request the transferor to
complete the procedures and give them the Certificate of land, ownership of
land and property on land.
3. Request the transferor to
transfer the proper area, location and condition of land as specified in the
agreement to the transferee.
4. Request the transferor to Pay
compensation for damage caused by the transferor’s fault.
5. Acquire land ownership from the
date on which the land is transferred by the transferor.
6. Exercise other rights specified
in the agreement.
Article 41. Obligations of the
transferee
1. Pay off the total amount by the
deadline to the transferor with the method under the agreement.
2. Ensure the rights of a third
person towards the land which is transferred.
3. Pay compensation for damage
caused by the transferee.
4. Fulfill financial obligations to
the State as prescribed in regulations of law.
5. Fulfill other obligations
specified in the agreement.
Article 42. Rights of the lessor
1. Request the lessee to use the
land for proper purposes, land-use planning, investment projects and agreement
specified in the agreement.
2. Request the lessee to pay off the
total amount by the deadline with the method under the agreement.
3. Request the lessee to terminate
the improper land use, land destruction or land deterioration; if the lessee
has not stopped committing violations, the lessor is entitled to unilaterally
terminate the agreement performance and request the lessee return the land and
pay compensation for damage.
4. Request the lessee to return the
land when the lease term expires.
5. Request the lessee to pay
compensation for damage caused by the lessee’s fault.
6. Exercise other rights specified
in the agreement.
Article 43. Obligations of the
lessor
1. Provide sufficient and truthful
information about the land and take responsibility for supplied information.
2. Transfer the proper area,
location and condition of land as specified in the agreement to the lessee.
3. Register the land lease.
4. Check and warn the lessee about
land protection and proper land use.
5. Fulfill financial obligations to
the State as prescribed in regulations of law.
6. Notify the lessee of rights of a
third person towards the land which is leased.
7. Pay compensation for damage
caused by the lessor.
8. Fulfill other obligations specified
in the agreement.
Article 44. Rights of the lessee
1. Request the transferor to provide
sufficient and truthful information about the land.
2. Request the lessor to transfer
the proper area, location and condition of land as specified in the agreement to
the lessee.
3. Use the leased land within agreed
duration.
4. Use the leased land and enjoy
achievements and investment results on the leased land.
5. Request the lessor to pay
compensation for damage caused by the lessor’s fault.
6. Exercise other rights specified
in the agreement.
Article 45. Obligations of the
lessee
1. Use the land for proper use,
limit, and duration.
2. Do not deteriorate the land.
3. Pay rent in full by the deadline
with the method under the agreement.
4. Conform to regulations on environment
protection; do not infringe the lawful rights and benefits of neighbor's land
users
5. Return the land on schedule with
the condition specified in the agreement.
6. Pay compensation for damage
caused by the lessee.
7. Fulfill other obligations specified
in the agreement.
Article 46. Rights and obligations
of contracting parties in the sublease agreement
Rights and obligations of sublessor
and sublessee shall be complied with regulations in Article 42, 43, 44 and 45
of this Law.
Article 47. Content of land
transfer, lease, sublease agreement;
The land transfer, lease, sublease
agreement shall contain:
1. Names and addresses of
contracting parties;
2. Information about types of land,
area, location, number, limit and land condition, property on land (if any);
3. Land use term;
4. Price of land transfer, lease,
and sublease including property on land (if any);
5. Payment method and deadline;
6. Land transfer deadline and
enclosed documents;
7. Rights and obligations of
contracting parties;
8. Rights of a third person towards
the land (if any);
9. Liability for breaches of
agreement;
10. Penalties for breaches of
agreement;
11. Dealing with the expired
agreement regarding land lease or sublease;
12. Dispute settlement;
13. Cases in which the agreement is
terminated and solutions;
Section 6. TRANSFER OF ALL OR A
PORTION OF REAL ESTATE PROJECT
Article 48. Rules for transfer of
all or a portion of real estate project
1. The real estate project investor
may transfer all or a portion of a project to another investor for business.
2. The transfer of all or a portion
of real estate project shall meet the following requirements:
a) Do not change objectives of the
project;
b) Do not change objectives of the
project's plan;
c) Ensure the rights of clients and
related contracting parties.
3. The transfer of all or a portion
of real estate project shall be approved in writing by competent agencies. The
investor (transferee) may be granted the Certificate of land, ownership of land
and property on land or may register the adjustments in the Certificated
granted to the transferor as prescribed in law on land.
4. The transferee is not required to
complete the project documents, construction planning and license for
construction again if the approval for investment policies and investment
decision is not changed.
Article 49. Requirements in terms of
transfer of all or a portion of real estate project
1. The transferred real estate
project shall meet the following requirements:
a) The project is approved by
competent agencies; there is a specific planning 1/500 or general ground
planning which is approved;
b) The compensation or site
clearance of the transferred project or a portion of the transferred project
has been finished. Regarding transfer of all infrastructure construction
projects, the technical infrastructure must be completed equivalent to schedule
as specified in the approved project;
c) The land in the project is not
disputed or distrained by a competent agency
d) There is no decision on project
or land revocation conducted by a competent agency; in case there is any
violation during the progress of the project, the investor must abide by the
decision on penalty.
2. The transferor has a Certificate
of land regarding all or a portion of the transferred project.
3. The transferee must be a real
estate enterprise, acquire financial competence and commit to keep conducting
the business as prescribed in regulations of law and ensure that the project is
conducted under proper progress and plan.
Article 50. Competence in transfer
of all or a portion of real estate project
1. The People’s Committees of
provinces shall consider permitting the transfer of all or a portion of real
estate project which is approved by the People’s Committee of the province.
2. The Prime Minister shall consider
permitting the transfer of all or a portion of real estate project regarding
projects approved by the Prime Minister.
Article 51. Procedures for transfer
of all or a portion of real estate project
1. The investor shall apply for
transfer of all or a portion of the project to The People’s Committee of the
province where the project or the body which is authorized by The People’s
Committee of the province is located.
2. Within 30 days from the day on
which the satisfactory application is received, The People’s Committee of the
province shall make a decision on permission for the transfer, if the
application is rejected, the investor shall be informed in writing.
Regarding the project approved by
the Prime Minister, the People’s Committee of the province shall confer with
the Ministries in charge and the Ministry of Construction then send a report to
the Prime Minister for consideration within 45 days from the day on which the
satisfactory application is received.
3. Within 30 days from the day on
which the decision on permission for project transfer made by competent
agencies, contracting parties must finish the transfer agreement conclusion and
project transfer.
If the transferee who receive the
real estate project is a foreign-invested enterprise, the transferor shall
return the land to the State after the decision on permission for project
transfer made by competent agencies; then the competent agencies shall allocate
or lease out the land to the transferee within 30 days from the day on which
the satisfactory application is received.
4. The Government shall provide
guidance on this Article.
Article 52. Rights and obligations
of contracting parties in agreement on transfer of all or a portion of real
estate project
1. Rights and obligations of the
transferor:
a) Transfer their rights and
obligations regarding all or a portion of the project to the transferee for
real estate trading, excluding rights and obligations which are completely
fulfilled not related to the transferee and progress of such project or the
portion of project;
b) Transfer the related documents to
the transferee; notify clients and entities related to the project or the
portion of transferred project promptly, sufficiently, publicly and handle with
their lawful rights and benefits.
c) Cooperate with the transferee in
completion of procedures for land transfer to the transferor as prescribed in
law on land.
d) Regarding transfer of a portion
of real estate project, the transferor may request the transferee to keep
constructing the building in the transferred project on schedule and specific
planning 1/500 or general ground planning; observe and promptly notify
competent agencies of violations of the transferee against land use or
construction.
dd) Fulfill financial obligations to
the State as prescribed in regulations of law.
e) Exercise other rights and
obligations specified in the agreement.
2. Rights and obligations of the
transferee:
a) Retain and exercise rights or
fulfill obligations transferred from the transferor;
b) Keep conducting the construction
and business on schedule and under approved plan;
c) Regarding receiving a portion of
real estate project, the transferee must meet requirements of the transferor
for conformity to progress and planning of the project;
d) Fulfill financial obligations to
the State as prescribed in regulations of law.
dd) Exercise other rights and
obligations specified in the agreement.
Article 52. Content of agreement on
transfer of all or a portion of real estate project
Content of agreement on transfer of
all or a portion of real estate project:
1. Names and addresses of
contracting parties;
2. Basic information about approved
project;
3. Specific information about all or
a portion of transferred project;
4. Transfer price;
5. Payment method and deadline;
6. All or a portion of transfer
deadline and enclosed documents;
7. Rights and obligations of
contracting parties;
8. Liability of contracting parties
in the completion of administrative procedures relating to the land;
9. Liability for breaches of
agreement;
10. Penalties for breaches of
agreement;
11. Dispute settlement;
12. Cases in which the agreement is
terminated and solutions;
13. Effective date of the agreement.
OFF-THE-PLAN
REAL ESTATE TRADING
Article 54. Rights to conduct off-the-plan
real estate trading
1. A real estate investor is
entitled to sell, lease or lease purchase off-the-plan buildings.
2. The off-the-plan building sale,
lease or lease purchase shall be complied with regulations of this Chapter,
equivalent regulations of Chapter II and other relevant regulations of this
Law.
Article 55. Requirements in terms of
off-the-plan real estate to be put on the market
1. There are documents on land,
project documents or construction drawing approved by competent agencies,
License for construction if it is required, documents on certification of
completion of technical infrastructure in equivalent to project progress; or it
is required to gain the certification of completion of the foundation of the
building regarding off-the-plan apartment buildings or mix-used buildings.
2. Before entering an agreement on
sale or lease purchase of an off-the-plan building
Within 15 days from the day on which
the notification is received, the agency in charge of housing of province shall
respond in writing to the investor with the building permitted to be sold or
leased purchase; if the building do not meet the requirements, they must
provide explanation.
Article 56. Guarantee on
off-the-plan building sale or lease purchase
1. The investor’s financial
obligations must be guaranteed by a competent commercial bank in case the
investor fails to transfer the building on schedule as commitment to clients
before the investor sell or lease purchase off-the-plan buildings.
The State bank of Vietnam shall
issue the list of competent commercial banks which may give guarantee in the
off-the-plan real estate trading.
2. The scope, requirements, content
and guarantee fee shall be agreed by contracting parties and concluded in an
agreement provided that responsibility of the guarantor must be ensured as
prescribed in Clause 3 of this Article. The investor shall send the copy of
guarantee agreement to the buyer or lessee when the agreement on sale or lease
purchase is signed.
The guarantee agreement will stay
unexpired until the building is transferred to the buyer or lessee.
3. If the investor fails to transfer
the building on schedule as committed and at the request of the buyer or
lessee, the guarantor shall make a refund of the option fee and other payments
to clients under agreement on housing sale or lease purchase and signed
guarantee agreement.
4. The guarantee on off-the-plan
building sale or lease purchase shall be conformed to regulations of this
Article and regulations of law on guarantee.
Article 57. Payment for off-the-plan
real estate sale or lease purchase
1. The off-the-plan real estate sale
or lease purchase shall be paid by installments, the initial installment do not
exceed 30% of the agreement value, the next installments shall be conformable
with real estate construction progress provided that total installment does not
exceed 70% of the agreement value if the building has been not transferred to
clients; if the seller or the lessor is a foreign-invested enterprise, the
total installment does not exceed 50% of the agreement value.
If the buyer or the lessee has been
not granted the Certificate of land, ownership of land and property on land,
the seller or the lessor shall not collect payment not exceeding 95% of the
agreement value from the buyer or the lessee; the remaining value shall be paid
when the buyer or the lessee is granted the Certificate of land, ownership of
land and property on land by competent agencies.
2. The investor must use the option
fee given by clients for proper purpose as committed.
Article 58. Rights and obligations
of contracting parties in off-the-plan building sale or lease purchase
Apart from rights and obligations of
contracting parties in real estate sale or lease purchase prescribed in Chapter
II of this Law, they shall have following rights and obligations:
1. The buyer or the lessee may
request the seller or the lessor to provide information about construction
progress, option fee use and physical verification at the work;
2. The seller or the lessor must
provide information about construction progress, option fee use and enable the
buyer to conduct physical verification at the work;
Article 59. Transfer of off-the-plan
building sale or lease purchase agreement
1. The buyer or the lessee may
transfer the off-the-plan building sale or lease purchase agreement if the
application for the Certificate of land, ownership of land and property on land
granted to the buyer or the lessee has been not sent to competent agencies. The
transfer of off-the-plan building sale or lease purchase agreement must be made
in writing and certified by the investor.
2. The agreement transferee may
retain rights and obligations of the buyer or the lessee. The investor must
enable contracting parties to transfer the agreement and collect no
remuneration related to the agreement transfer.
3. The last agreement transferee
shall be granted the Certificate of rights to use land, ownership of land
property on land as prescribed in law on land.
4. The agreement transfer prescribed
in this Article shall not apply to social house sale or lease purchase
agreements.
5. The Government shall providing
guidance on this Article.
REAL ESTATE
SERVICES
Section 1. GENERAL PROVISIONS
Article 60. Scope of real estate
services provided by Vietnamese organizations or individuals, overseas
Vietnamese, or foreign organizations or individuals
Any Vietnamese organizations or
individuals, overseas Vietnamese, or foreign organizations or individuals are
entitled to provide real estate brokerage services, real estate trading floors,
real estate counseling, or real estate management as prescribed in this Law.
Article 61. Real estate service
agreement
1. Types of real estate service
agreement
a) Real estate brokerage service
agreement;
b) Real estate counseling service
agreement;
c) Real estate management service
agreement.
2. The real estate service agreement
must be made in writing. The agreement’s notarization or authentication shall
be agreed by contracting parties.
3. The effective date of the
agreement shall be agreed by contracting parties and stated in the agreement.
In case the agreement is notarized or authenticated, the effective date of the
agreement is the date on which it is notarized or authenticated. If there is no
agreement between contracting parties or the agreement is not notarized or
authenticated, the effective date of the agreement shall be the day on which it
is signed.
4. The real estate service agreement
agreed by contracting parties shall contain
a) Names and addresses of
contracting parties;
b) Entities and content of the
services;
c) Requirements and results of the
services;
d) Service provision duration;
dd) Service fee, remuneration, and
service commission;
e) Payment method and deadline;
g) Rights and obligations of
contracting parties;
h) Dispute settlement;
i) Effective date of the agreement.
Section 2. REAL ESTATE BROKERAGE
SERVICE
Article 62. Requirements for real
estate brokerage service providers
1. Any real estate brokerage service
providers must set up the enterprise and there are at least 2 employees
obtaining real estate broker license (hereinafter referred to as broker
license), excluding cases prescribed in Clause 2 of this Article.
2. Any individual is entitled to
provide real estate brokerage services independently provided that he obtains a
broker license and pay taxes as prescribed in law on taxation.
3. Any real estate service provider
is not entitled to be both a broker and a contracting party in a real estate
transaction.
Article 63. Real estate brokerage
services
1. Look for partners who meet
requirements given by clients for agreement negotiation and conclusion.
2. Act as authorized representative
to follow procedures for real estate sale, transfer, lease, and sublease or
lease purchase.
3. Provide information and support
contracting parties in negotiation and conclusion of agreement on real estate
sale, transfer, lease, sublease or lease purchase.
Article 64. Real estate brokerage
remunerations
1. The real estate brokerage service
providers shall receive remunerations from clients regardless of results of
real estate sale, transfer, lease, sublease or lease purchase between their
clients and a third person.
2. The real estate brokerage
remunerations shall be agreed by contracting parties regardless of brokerage
transfer price.
Article 65. Real estate brokerage
commission
1. The real estate brokerage service
providers shall receive brokerage commission when their clients sign agreements
on real estate sale, transfer, lease, sublease or lease purchase.
2. The real estate brokerage
commission shall be agreed by contracting parties.
Article 66. Rights of real estate
brokerage service providers
1. Provide real estate brokerage
services as prescribed in this Law.
2. Request their clients to provide
documents and information about the real estate.
3. Receive remunerations or
commission as specified in the signed agreement.
4. Hire other real estate brokerage
service providers to provide real estate brokerage services within the scope of
the signed agreement provided that take responsibility for brokerage result to
the clients.
5. Exercise other rights specified
in the agreement.
Article 67. Obligations of real
estate brokerage service providers
1. Abide by the signed agreement.
2. Provide documents and information
about the real estate brokered by them and take responsibility for documents
and information provided by them.
3. Support contracting parties in
negotiation and conclusion of agreement on real estate sale, transfer, lease,
sublease or lease purchase.
4. Conform to the reporting as
prescribed in regulations of law and subject to inspection carried out by
competent agencies.
5. Pay compensation for damage
caused by the provider.
6. Fulfill tax obligations to the
State as prescribed in regulations of law.
7. Fulfill other obligations
specified in the agreement.
Article 68. Real estate broker
license
1. An individual shall be granted
broker license if they:
a) Have full capacity for civil
acts;
b) Obtain at least upper-secondary
graduation degree;
c) Have passed examination in real
estate brokerage knowledge.
2. Broker license’s duration is 05
years.
3. The Minister of Construction
shall providing guidance on grant of broker license.
Section 3. REAL ESTATE TRADING
FLOORS
Article 69. Requirements for real
estate trading floor establishment
1. Any organizations or individuals
who wish to provide real estate trading floor service must establish the
enterprise.
2. The real estate trading floor
enterprise must have at least 02 employees obtaining broker license; the
manager of real estate trading floors must obtain a broker license.
3. A real estate trading floor must
have regulations, name, address, facilities and technical satisfying
requirements in terms of operation.
Article 70. Real estate trading
floor operation
1. Conduct real estate sale,
transfer, lease, sublease or lease purchase transactions.
2. Organize the real estate sale,
transfer, lease, sublease or lease purchase; publicly provide or post
information about real estate to potential clients check documents on the real estate
eligible for transactions; act as a broker between contracting parties in
negotiation and conclusion of agreement on real estate sale, transfer, lease,
sublease, or lease purchase.
Article 71. Rights of real estate
trading floor service providers
1. Request their clients to provide
documents and information about the real estate to be put on the trading floor.
2. Refuse to put on real estate
unconformable to be put on the market on the trading floor.
3. Collect fee from clients whose
real estate is put on real estate trading floor.
4. Request the clients to Pay
compensation for damage caused by the clients.
5. Exercise other rights specified
in the agreement.
Article 72. Obligations of real
estate trading floor service providers
1. Ensure real estate conformable
for transactions before putting on the real estate trading floor.
2. Provide sufficient and truthful
documents and information about the real estate and take responsibility for
documents and information provided by the enterprise.
3. Ensure facilities, technical and
requirements for operation of real estate trading floor.
4. Conform to the reporting as
prescribed in regulations of law and subject to inspection carried out by
competent agencies.
5. Fulfill tax obligations to the
State as prescribed in regulations of law.
6. Pay compensation for damage
caused by the enterprise.
7. Fulfill other obligations
specified in the agreement.
Article 73. Rights and obligations
of real estate trading floor participants
1. Any real estate trading floor
participant has following rights:
a) Request the real estate trading
floor provider to provide documents and information about the real estate;
b) Conclude the agreement with the
real estate trading floor provider on real estate sale, transfer, lease,
sublease, or lease purchase.
c) Request the real estate trading
floor provider to Pay compensation for damage caused by the participant.
d) Exercise other rights specified
in the agreement.
2. Any real estate trading floor
participant has following obligations:
a) Conform to regulations of real
estate trading floor;
b) Pay charges to real estate
trading floor providers;
c) Pay compensation for damage
caused by the participant.
d) Fulfill other obligations
specified in the agreement.
Section 4. REAL ESTATE COUNSELING AND
MANAGEMENT SERVICES
Section 74. Real estate counseling
services
1. Any organizations or individuals
who wish to provide real estate counseling services must establish the
enterprise.
2. Real estate counseling services
contain:
a) Legal counseling on real estate;
b) Counseling on real estate
creation and trading;
c) Counseling on real estate
finance;
d) Counseling on real estate price;
dd) Counseling on real estate sale,
transfer, lease, sublease or lease purchase agreement.
3. Counseling content and scope,
rights and obligations of contracting parties, real estate counseling fees
shall be agreed by contracting parties.
4. The real estate counseling
service providers shall take responsibility for commitment in the agreement and
compensation for damage caused by the enterprise.
Section 75. Real estate management
services
1. Any organizations or individuals
who wish to provide real estate management services must establish the
enterprise. If they provide residential apartment building or mix-used building
management services, they must satisfy requirements prescribed in law on
housing.
2. Real estate counseling services
contain:
a) Sell, transfer, lease out, sublet
or lease purchase the real estate as authorized by building owners or land
owners;
b) Provide services to ensure the
normal operation of the real estate;
c) Maintain or repair the real
estate;
d) Manage, observe the real estate
enjoyment of the clients under agreement;
dd) Enjoy rights and fulfill
obligations to clients or the State as authorized by the building owners or the
land owners.
3. Content, time and scope of real
estate management, rights and obligations of contracting parties and real
estate management price shall be agreed by the contracting parties.
4. The real estate management
service enterprise takes responsibility for commitment in the agreement and pay
compensation for damage caused by the enterprise.
STATE
MANAGEMENT OF REAL ESTATE TRADING
Article 76. State management of real
estate trading
1. Issue and implement legislative
documents on real estate trading.
2. Formulate and issue strategy for
real estate market development, plans for conducting real estate projects.
3. Formulate and announce indices of
real estate market evaluation.
4. Formulate communication system
about real estate market.
5. Inspect the implementation of
regulations of law on real estate trading and real estate project execution.
6. Raise awareness of law on real
estate trading.
7. Handle complaints, denunciation,
and violations against law on real estate trading.
Article 77. State management of real
estate trading
1. The Government shall be in charge
of state management of real estate trading.
2. The Ministry of Construction
shall take responsibility to the Government for state management of real estate
trading nationwide and have the following tasks and entitlements:
a) Request competent authorities to
issue or issue themselves within their competence legislative documents on real
estate trading;
b) Request the Prime Minister to
issue and direct to carry out the strategy for real estate market development;
c) Cooperate with Ministries,
ministerial-level agencies, The People’s Committee of the province in
implementation and management of real estate trading;
d) Provide for grant of real estate
brokerage broker license; provide training course in real estate brokerage
knowledge, operate real estate trading floors; provide guidance on
establishment and operation of real estate trading floors;
dd) Formulate and manage national
communication system for real estate market; formulate and announce indices of
real estate market evaluation nationwide;
e) Raise awareness of law on real
estate trading;
g) International cooperation in real
estate trading;
h) Inspect the implementation of law
on real estate trading; cooperate with The People’s Committee of the province
in inspection of real estate project to request competent agencies to revoke,
suspend, postpone or adjust, converse, or transfer real estate projects.
i) Handling complaints or
denunciation and actions against violations within their competence or request
competent agencies to handle as prescribed in regulations of law;
k) Send a report to the Government
on real estate trading, real estate market nationwide.
3. The Ministry of Natural Resources
and Environment shall take responsibility within their competence for:
a) Provide guidance on land resource
allocation to real estate market development in the land-use planning;
b) Provide guidance on types of land
to be put on the real estate market as prescribed in Law on land and this Law;
c) Provide guidance on issuance of
the Certificate of land use right, ownership of housing and property on land in
real estate trading.
4. The Ministry of Finance must
request competent agencies to formulate policies on taxation and other
financial obligations in real estate trading.
5. The State bank of Vietnam must
provide guidance on payment in real estate trading transactions, loan security
with real estate, guarantee in off-the-plan building sale or lease purchase.
6. Ministries, ministerial-level
agencies must cooperate with the Ministry of Construction in management and
inspection of real estate trading.
Article 78. Responsibility of the
People’s Committees of the provinces
1. Carry out state management of
real estate trading on administrative divisions.
2. Allocate land resource to develop
real estate projects in the local land-use planning.
3. Publicly issue and implement
plans for real estate projects.
4. Manage real estate brokers, real
estate trading floor operation and other real estate services in the
administrative divisions.
5. Formulate national communication
system for real estate market; formulate and announce indices of real estate
market evaluation in the administrative divisions.
6. Raise awareness of law on real
estate trading in the administrative divisions.
7. International cooperation in real
estate trading;
8. Inspect, handle complaints and
denunciation and handle violations against law on real estate trading in the
administrative divisions within their competence; check real estate projects in
the administrative divisions for revocation, suspension, postpone or
adjustment, converse*, and transfer of real estate projects.
9. Send a report on real estate
market in the administrative divisions to the Ministry of Construction.
Article 79. Actions against
violations
1. Any organization or individual
committing violations against law on real estate trading shall be disciplined,
imposed administrative penalties or face a criminal prosecution according to
nature and severity of the violations, in case of causing damage, they shall
indemnify as prescribed in regulations of law.
2. Revocation of real estate
projects:
a) If any investor commit
regulations of law on construction, planning, or architecture without handling
measures at the request of competent agencies and there are projects whose land
subject to be revoked as prescribed in law on land, excluding projects to be
transfer by other investor as prescribed in Section 6 Chapter II in this Law,
the competent agencies in charge of project permission shall decide to revoke
such projects to transfer to other investor.
b) The investor whose projects are
revoked must deal with difficulties of the project to ensure rights and
obligations of clients and project-related entities.
c) The agency in charge of project
revocation must request the investor whose projects are revoked to deal with
difficulties; announce and select new investor to transfer the project;
d) The investor whose projects are
revoked shall not be assigned as an investor of new real estate within 02 years
from the day on which the project is revoked.
Chapter VI
IMPLEMENTATION
Article 80. Transitional regulations
1. Operating real estate enterprise
which has not satisfied requirements as prescribed in this Law shall fulfill
all requirement within 01 year from the effective date of this Law.
2. Any real estate project which is
granted the decision on investment, allocated land, leased land, granted the
permission for project transfer, or transferred, sold, leased, or leased
purchase under an agreement before the effective date of this Law is not
require to follow the procedures in this Law.
3. The real estate brokerage
certificate granted before the effective date of this Law shall stay unexpired
for 05 years from its effective date; at the end of this period, the broker
obtaining the certificate must meet requirements in this Law.
4. The real estate brokerage
certificate granted before the effective date of this Law shall stay unexpired
for 05 years from its effective date; at the end of this period, the broker
obtaining the certificate must meet requirements in this Law.
Article 81. Effect
This Law shall take effect from July
1, 2015.
The Law on real estate trading No.
63/2006/QH11 shall be annulled from the effective date of this Law.
Article 82. Specific regulations
The Government and competent
agencies shall providing guidance on Articles and Clauses in the Law.
This Law is passed by the 13th
National Assembly of the Socialist Republic of Vietnam, 8th session
dated November 25, 2014.
PRESIDENT
OF THE NATIONAL ASSEMBLY
(Signed and sealed) Nguyen Sinh Hung
(This
translation is for reference only)
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