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Due Diligence of Real Estate Transactions: A Necessity in Purchasing Real Estate. 5 Reasons

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  In the ever-evolving landscape of real estate law, Vietnam has recently passed significant amendments that reshape the framework for real estate transactions within the country. These changes not only expand the opportunities for investors and property buyers but also introduce new regulations and conditions that demand rigorous compliance. This development underscores the critical importance of undertaking due diligence of real estate transactions, a process that involves thorough investigation and verification of all aspects of a property deal before finalization. This article delves into the key highlights of the amended Vietnam real estate law and explores why due diligence of real estate transactions is indispensable for navigating this complex legal terrain. Understanding the Amended Vietnam Real Estate Law The recently amended Vietnam real estate law effective from 2025 introduces several pivotal changes and additions that impact various facets of real estate transactions....

What Are New Conditions on Real Estate Purchase and Sale in 2022?

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Real estate business activities have a great influence on socio-economic development. Accordingly, in order to ensure the legal framework for the current real estate business activities, the Government has issued Decree 02/2022/ND-CP detailing the implementation of a number of articles of the Law on Real Estate Business (“Decree 02/2022/ND-CP”) in order to promptly amend and supplement inadequate regulations to be consistent with reality. In which, conditions for the transfer of contracts of purchase and sale, lease-purchase of houses and construction works are mentioned. The demand for the transfer of purchase and sale contracts, lease-purchase of houses, real estate, construction works on the market is at a high level, although there are no regulations on the transfer of contracts for the sale of non-residential real estate not to be formed in the future. Therefore, there is no legal basis to carry out these transactions in reality. Therefore, Decree 02/2022/ND-CP has had a number o...

7 Highlights in Recently Passed Vietnam Real Estate Law

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  On November 28, 2023, with 465 out of 494 delegates participating in the vote of approval (making up a percentage of 94.13%), the National Assembly officially passed the amended  Vietnam real estate law , which will come into effect on January 1, 2025. This new Vietnam real estate law is a significant legislative project aimed at adapting to the development trends of technology and enhancing the efficiency of real estate resource management. The following article will provide basic information on some key points of this Vietnam real estate law. Types of Real Estates Allowed for Transaction in the Vietnam Real Estate Law: The types of real estates permitted for real estate transaction under the amended Vietnam real estate law include: 1. Existing residential properties and those to be formed in the future. 2. Existing construction works and those to be formed in the future, including constructions serving purposes such as education, healthcare, sports, culture, offices, comme...