What are principles of transfer of all or a portion of real estate project in Vietnam?

What are principles of transfer of all or a portion of real estate project in Vietnam?

Pursuant to Article 48 of the Law on Real Estate Trading in 2014 stipulating principles of transfer of all or a portion of real estate project in Vietnam as follows:

1. The real estate project investor may transfer all or a portion of a project to another investor for business.

2. The transfer of all or a portion of real estate project shall meet the following requirements:

a) Do not change objectives of the project;

b) Do not change objectives of the project's plan;

c) Ensure the rights of clients and related contracting parties.

3. The transfer of all or a portion of real estate project shall be approved in writing by competent agencies. The investor (transferee) may be granted the Certificate of land, ownership of land and property on land or may register the adjustments in the Certificated granted to the transferor as prescribed in law on land.

4. The transferee is not required to complete the project documents, construction planning and license for construction again if the approval for investment policies and investment decision is not changed.

What are principles of implementation of transfer of the whole (or a part) of real estate project in Vietnam?

Pursuant to Article 9 of the Decree 02/2022/ND-CP (takes effect from 01/03/2022) stipulating as follows:

1. The transfer of the whole or a part of a real estate project shall be effected when all the conditions specified in Article 49 of the Law on real estate trading are satisfied and shall be applied in case the project is being executed in conformity with the approved project schedule and contents.

2. For real estate projects specified below, the transfer shall be carried out in accordance with the law on investment:

a) Real estate projects approved by investors according to the Law on Investment 2020;

b) Real estate projects that are granted investment registration certificates in accordance with the Law on Investment 2020.

3. Real estate projects not specified in Clause 2 of this Article shall be transferred in accordance with the Law on real estate trading and this Decree.

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