The Ministry of Construction has recently issued a document guiding Vingroup Joint Stock Company on legal regulations regarding the transfer and issuance of certificates for sales contracts of future construction housing (also known as “paper houses”).
According to the Ministry of Construction’s guidance, based on the 2023 Law on Real Estate Business, sales contracts for future construction housing that have been legally concluded between investors and customers in accordance with the provisions of the law on real estate business can be transferred as prescribed.
Regarding the conditions for the transfer of real estate business contracts, the Ministry of Construction cited the regulations in Point a, Clause 1, Article 49 of the 2023 Law on Real Estate Business.
Accordingly, the transfer of sales contracts for housing must meet the condition that they have not yet submitted a dossier requesting the competent state agency to grant land use rights certificates and ownership of assets attached to the land (commonly known as “red book” or “pink book”) as prescribed.
Sales contracts for future construction housing can be transferred if the red book application dossier has not been submitted, even if the housing has been handed over. Illustration: Hong Khanh |
In comparison with the above regulations, the Ministry of Construction affirmed: In case the sales contracts for future construction housing meet the above conditions (have not submitted a dossier requesting the ownership certificate), they can still be transferred. This regulation is not limited to cases where customers have received the housing handover from the investor.
The procedure, process, and specific dossier for the transfer of contracts shall be carried out in accordance with the detailed regulations in Article 50 of the 2023 Law on Real Estate Business and Article 13 of Decree No. 96/2024/ND-CP.
The granting of land use rights certificates and ownership of assets attached to the land for housing bought and sold between investors and customers shall be done in accordance with the law on land.
Therefore, the Ministry of Construction requested Vingroup Joint Stock Company to contact the local competent authorities for guidance and resolution in accordance with their competence.
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Recently, there has been a stir among homebuyers regarding the information that homebuyers of future construction housing who have received handover from the investor but have not been granted a red book will not be allowed to transfer their contracts. Many people expressed concern about this issue. In an interview with VietNamNet, Lawyer Pham Thanh Tuan from the Hanoi Bar Association stated that the document issued by the Ministry of Construction clearly states that the transferor of a sales contract for future construction housing after August 1, 2024, even if they have received the housing handover from the investor, still has the right to transfer that contract up until the point of submitting the dossier for the grant of a certificate. However, the lawyer also pointed out that, in reality, there have been cases where the land registration agency returned the dossier for the grant of a certificate to an individual who was the assignee of a sales contract for future construction housing. The reason given by the agency was that since the housing had already been handed over by the seller to the investor, there would be no transfer allowed if the certificate had not been granted starting from August 1, 2024. According to Lawyer Tuan, the Ministry of Construction should issue a detailed guiding document to ensure uniform application across the country and avoid inconsistencies in understanding and implementing the law among different localities. |
Hong Khanh
– 06:15 15/06/2025
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The Ministry of Construction has proposed an exemption from road usage charges for vehicles that are temporarily confiscated, impounded, or suspended from circulation for a continuous period of 30 days or more. In a thoughtful gesture, vehicles serving funeral processions, such as passenger cars accompanying the hearse, flower-carrying trucks, and image-bearing vehicles, will also be granted free road usage.
