Legal basis

• Law on Real Estate Business 2014
• Law on Investment in 2020
• Decree 76/2015/ND-CP detailing a number of articles of the Law on Real Estate Business

Content

Within the scope of this article, we provide the legal provisions on real estate trading in the form of capital investment in building, purchasing, and receiving real estate for sale, for transfer, for lease, for sublease, or for lease purchase.

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:

• 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.
• There is no dispute about the land and ownership of the building on land.
• The building is not distrained.

2. Types of land permitted to be put on the market shall satisfy the following requirements:

• There are Certificates of land as prescribed in regulations of law on land.
•  There is no dispute about the land.
• The land is not distrained;
• The land use term is still unexpired.

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) excluding cases prescribed in Clause 2 of this Article.
2. Organizations, households and individuals conducting sale, transfer, lease, and lease purchase of real estate prescribed in Clause 2 Article 10 of the Law on real estate trading are not required to set up real estate enterprise and include:

• Organizations, households and individuals conducting sale, transfer, lease and lease purchase of real estate without business purposes and organizations, households or individuals conducting sale, transfer, lease and lease purchase of real estate with business purposes and total investment are under 20 billion (excluding land levies).
• Organizations transferring land use rights or sell buildings due to bankrupt, dissolution, or division.
• Credit institutions, branches of foreign banks, Asset Management Company (AMC), Vietnam Asset Management Company (VAMC) and other organizations or individuals transferring land use rights, real estate projects, or selling buildings subject to mortgage for debt recovery.
• Organizations, households or individuals transferring land use rights or selling buildings according to decisions of courts or competent agencies upon their dispute, complaints, or denunciation.
• Organizations, households and individuals building houses for sale, lease or lease purchase not subject to enterprise establishment as prescribed in law on housing.
• Agencies or organizations permitted to transfer land use rights or sell state-owned buildings by competent agencies as prescribed in law on management of public property.
• Organizations, households and individuals selling, transferring, leasing, or leasing and purchasing their own real estate.

Above is our consultancy about this issue. If you need more detailed advice and answers as well as how to access this service, please contact directly the Deputy Director of Sales: Lawyer Nguyen Duc Trong via hotline: 0912.35.65.75, 0912.35.53.53 or call the free legal consultation hotline 1900.6575 or send a service request via email: info@hongbanglawfirm.com hoặc lienheluathongbang@gmail.com

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