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blue-check Conditions, procedures for transfer of a real estate project

Official letter No. 1619/BXD-QLN dated May 12th, 2021 of the Ministry of Construction regarding transfer of a part of a real estate project
Posted: 20/5/2021 1:31:46 PM | Latest updated: 1/6/2021 4:23:04 PM (GMT+7) | LuatVietnam: 5216 | Vietlaw: 512
VietlawOnline

According to opinions of the Ministry of Construction, investor of a real estate project in general, urban area project in particular is entitled to transfer the whole or a part of a real estate project to another investor in order to continue the investment, business when all conditions, principles, rights and obligations of both transferor and transferee as prescribed by laws on real estate trading, laws on investment are met.

In particular, the transfer of the whole or a part of a real estate project must meet 2 legal systems below:

- Regulations on real estate trading at Section 6 Chapter II of 2014 Law on Real estate trading and Section 5 Chapter II of Decree No. 76/2015/ND-CPstatus1 ;

- Regulations on investment at Article 46, point b, point c Clause 2 Article 75 of 2020 Law on Investment and Article 48 of Decree No. 31/2021/ND-CP .

Regarding procedures, if the real estate project to be transferred requires investment approval according to Clause 3 or Clause 4 Article 29 of the Law on Investment or has to apply for the investment registration Certificate, it is required to carry out procedures for transfer and adjustment of the project according to regulations of laws on investment.

If the real estate project to be transferred is not required to carry out procedures for transfer, adjustment of the project according to regulations of laws on investment, it is only required to carry out procedures for transfer according to laws on real estate trading. Regarding transfer of land of the real estate project, it shall be carried out according to land laws.

Ms Phuong Thao (VietlawOnline.com)
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Published Vietlaw's Newsletter No. 512
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Real estates trading