Conditions for participating in housing transactions according to the law | iGuide

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Conditions of parties participating in housing transactions

This article provides detailed information on the conditions that parties must meet when entering into housing-related transactions. It includes current Vietnamese legal regulations, helping to ensure that all transactions are legal and protect the rights of the parties involved.

1. The party selling, leasing, leasing-purchasing a house, transferring a commercial house purchase contract, donating, exchanging, bequeathing, mortgaging, contributing capital, lending, allowing temporary stay, or authorizing the management of a house must meet the following conditions:

a) Be the owner of the house or a person permitted or authorized by the owner to conduct housing transactions in accordance with the provisions of this Law and civil law; in case of transferring a commercial housing sale and purchase contract, it must be the person who purchased the house from the investor or the person who received the transfer of the housing sale and purchase contract;

b) If an individual, he/she must have full civil act capacity to conduct housing transactions according to the provisions of civil law; if an organization, he/she must have legal status, except in cases where the organization donates houses of gratitude or charity.

2. The buyer, lessee, hire-purchaser of a house, the transferee of a commercial house sale and purchase contract, the exchanger, the recipient of a gift, the inheritor, the capital contributor, the mortgagee, the borrower, the person staying at the house, or the person authorized to manage the house is an individual who must meet the following conditions:

a) If the individual is a domestic individual, he/she must have full civil act capacity to conduct housing transactions according to the provisions of civil law and is not required to have permanent residence registration at the place where the housing is transacted;

b) If the individual is a foreigner or a Vietnamese person residing abroad, he/she must have full civil act capacity to conduct housing transactions according to the provisions of Vietnamese law, must be eligible to own housing in Vietnam according to the provisions of this Law and is not required to have temporary or permanent residence registration at the place where the housing is transacted.

3. The buyer, lessee, hire-purchaser of a house, the transferee of a commercial house sale and purchase contract, the exchanger, the donor, the inheritor, the mortgagee, the capital contributor, the authorized house manager is an organization that must have legal status and is not dependent on the place of business registration or place of establishment; in the case of a foreign organization, it must be eligible to own a house in Vietnam according to the provisions of this Law; if the organization is authorized to manage a house, it must have the function of real estate service business and be operating in Vietnam according to the provisions of the law on real estate business.