On January 6, 2022, the Government issued Decree No. 02/2022/ND-CP detailing the implementation of a number of articles of the Law on Real Estate Business. This Decree details the conditions for the transfer of contracts for purchase and sale or lease-purchase of future houses, including the following conditions:
– Having a purchase and sale contract, a lease-purchase contract made according to a form in accordance with the provisions of this Decree; in case the parties have signed the contract before March 1, 2022, the signed contract must be signed;
– Those who have not submitted dossiers to request competent state agencies for issuance of certificates of land use rights and ownership of houses and other land-attached assets;
Contracts for sale, purchase, and lease-purchase of houses must be free of disputes or lawsuits;
– Houses under purchase and sale or lease-purchase contracts are not subject to distraint or mortgage to secure the performance of obligations as prescribed by law unless otherwise agreed by the mortgagee.
– The transfer of house purchase and sale contracts or lease-purchase contracts shall apply to the entire contract. In case of buying, selling, or lease-purchase of many houses in the same contract and the parties wish to transfer each house, the transferor must reach an agreement with the investor to amend the house purchase and sale contract or sign the lease-purchase agreement contract addendum before performing the contract assignment.
Note: Transfering of the future housing purchase and sale contracts does not apply to the social housing purchase and sale, lease-purchase contracts
This Decree takes effect from March 1, 2022.