Consulting on Drafting Land Sales Contracts
According to the law, when buying, selling, transferring, or giving real estate, the parties must sign a written contract and have it notarized according to regulations. This contract will be a mandatory part of the name transfer registration procedure at the land registration office.
Relevant legal documents
- Law on land 2013
- Law on Housing 2014
The contract for sale, transfer, and donation of real estate includes the following main information:
- Information of the Parties:
- Full name and address of individuals/organizations and the address.
- Personal ID numbers of individuals.
- Tax ID/business registration numbers of organizations.
- Information of the authorized representative of the organization signing the contract.
- In cases of multiple owners, all owners’ information must be provided.
- Information about the Property: Details from the certificate, including land plot number, map sheet number, land address, area, land use form, specific area for each use, land use purpose, usage term, land origin, usage restrictions (if any). It must also include the purpose of the building, address, area, number of floors, current condition, and usage purpose.
- Selling/transfer price, whether the deposit is required or not; payment term and method (if it is a gift, this content will not be included).
- Time for delivery and receipt of real estate and house documents: specific date or several days after completion of contract notarization/payment completion.
- Rights and obligations of the parties: to pay and receive payment on time; Hand over the house and land documents on time, in the correct condition, declare taxes according to regulations…
- Commitments of the parties;
- Other agreements;
- Effective date of the contract;
- Date/month/year of contract signing;
- Signatures and Full Names of the Parties (Organizations must stamp and specify the signatory’s position).
Procedure for Property Title Transfer:
- Step 1: The sales and transfer agreement must be notarized as per regulations. Besides the contract, the parties need the following documents:
- The land use rights certificate, house ownership certificate, and other attached property certificates (red book, pink book).
- ID numbers of the seller(s) (if they are spouses, both spouses’ ID numbers are required).
- Marriage certificate of the seller (if married). If you are single/divorced/the spouse is dead, relevant documents like confirmation of marital status, divorce Decision , death certificate of the spouse may be accepted).
- Technical dossier of the land plot (if transferring part of the land).
- Documents proving separately owned property given as a gift, inherited, or divided according to an agreement or court judgment (if applicable).
- Step 2: After notarizing the contract, the parties submit the title transfer dossier to the Land Registration Office in the district where the property is located.
- Step 3: Based on the notice from the receiving agency, the responsible person will pay the registration fee and personal income tax in advance (the party responsible for these taxes and fees will be agreed upon by the parties. If no agreement is reached, the seller usually pays the personal income tax, and the buyer pays the registration fee).
- Step 4: Receive the results – When the procedure is completed.
The real estate sales and transfer agreements, gift deeds for houses and land are types of civil contracts that record the agreements of the parties regarding the transfer of real estate. It is a significant asset for every family. Therefore, the parties should carefully review the content of the contract before signing it to avoid unnecessary errors that may affect their rights.
If you have any questions related to house or land purchase, transfer, or donation contracts, please do not hesitate to contact An Luat Vietnam for support and advice.