TLearn about regulations on housing lease purchase contracts in Vietnam

1. What is housing lease purchase?

According to Clause 17, Article 3 of the 2014 Housing Law Specific regulations on renting and purchasing housing are as follows:

“17. Lease-purchase of housing means the lessee pays in advance to the lessor 20% of the value of the leased-purchase house, except in cases where the lessee has the conditions to pay in advance, then the payment is no more than 50% of the price. Lease-purchase housing value; The remaining amount is calculated as rent to be paid monthly to the lessor for a certain period of time; After the lease-purchase term expires and the remaining amount has been paid, the lessee has the right to own the house."

Thus, renting a house means that the lessee is obliged to pay the lessor 20% of the house's value in advance. Except in cases where the tenant has the condition to pay in advance, they can pay over 20%, but not exceeding 50% of the housing value.

2. Is a housing lease purchase contract valid without notarization?

Pursuant to Article 122 of the 2014 Housing Law Specific regulations on notarization and authentication of contracts and the effective date of housing contracts are as follows:

“Notarize and authenticate the contract and the effective date of the housing contract

1. In case of buying and selling, donating, exchanging, contributing capital, mortgaging housing, or transferring commercial housing purchase and sale contracts, the contract must be notarized and authenticated, except for the cases specified in Clause 2. This.

For transactions specified in this Clause, the effective date of the contract is the time of notarization or authentication of the contract.

2. In case the organization donates to a charity house or charity house; buying, selling, leasing and purchasing state-owned housing; buying, selling, renting and purchasing social housing, housing for resettlement; Capital contribution by housing with one party being an organization; For renting, lending, staying in, or authorizing housing management, the contract is not required to be notarized or authenticated, unless the parties so wish.

For the transactions specified in this Clause, the effective date of the contract is agreed upon by the parties; In case the parties do not have an agreement, the effective date of the contract is the date of signing the contract.

3. The house inheritance document is notarized or authenticated according to the provisions of civil law.

4. Notarization of housing contracts is performed at a notary practice organization; The authentication of housing contracts is carried out at the commune-level People's Committee where the house is located.

Thus, notarization and authentication of the contract and the effective date of the house lease purchase contract at the time of the house lease contract are agreed upon by the parties; In case the parties do not have an agreement, the effective date of the contract is the date of signing the contract.

According to Article 121 of the 2014 Housing Law Specific regulations on housing contracts are as follows:

“The housing contract is agreed upon by the parties and must be made in writing and includes the following contents:

1. Full name of the individual, name of the organization and address of the parties;

2. Describe the characteristics of transaction housing and the characteristics of the residential land plot attached to that house. For apartment purchase and sale contracts and lease-purchase contracts, the parties must clearly state the common ownership and common use; Usable area belongs to private ownership; apartment construction floor area; Use purpose of common ownership and common use in the apartment building in accordance with the initially approved design purpose;

3. Value of capital contribution and housing transaction price if the contract has an agreement on price; In case of buying, selling, renting, or lease-purchasing housing where the State has regulations on prices, the parties must comply with those regulations;

4. Time limit and payment method if it is a case of buying, selling, leasing, leasing, or transferring a housing purchase contract;

5. Housing delivery time; Housing warranty period if buying or renting a newly built house; term of lease, lease purchase, mortgage, loan, temporary stay, housing management authorization; capital contribution period;

6. Rights and obligations of the parties;

7. Commitments of the parties;

8. Other agreements;

9. Effective date of the contract;

10. Date, month and year of contract signing;

11. Signature and clearly state the full names of the parties. If it is an organization, it must be stamped (if any) and clearly state the position of the signer.

Therefore, the basic housing lease purchase contract regarding the term, method and payment obligations in the contract is still independently agreed upon by the parties and must be made in writing, but notarization or certification is not required. actually depends on the needs of the parties.