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Real estate purchase and sale contracts with full legal information in the US

Real estate purchase and sale contracts with full legal information in the US The real estate sale and purchase contract includes terms that record the agreement between the transferor parties, covering contents such as: information about the land plot, the house being transferred, the transfer price, and the obligations to pay taxes and fees for the name transfer.
Real estate purchase and sale contracts with full legal information in the US (1)

Real estate purchase and sale contracts with full legal information in the US (1)

Real estate purchase and sale contracts with full legal information in the US Real Estate Sale and Purchase Contract

The real estate sale and purchase contract includes terms that record the agreement between the transferor parties, covering contents such as: information about the land plot, the house being transferred, the transfer price, and the obligations to pay taxes and fees for the name transfer.

1. Sample Real Estate Sale and Purchase Contract

The contract template for transferring land use rights and ownership of houses applies to cases involving either only the transfer of land use rights or both land use rights and ownership of houses. It generally includes the following key clauses:Real estate purchase and sale contracts with full legal information in the US (1)
Real estate purchase and sale contracts with full legal information in the US

  • Contract title;

  • Information of the transferor parties;

  • Object of transfer;

  • Transfer price and payment method;

  • Rights and obligations of the parties;

  • Dispute resolution method, etc.

See also: How to draft a real estate sale and purchase contract

Sample Real Estate Sale and Purchase Contract
(Sample contract illustration)

2. Conditions for the Contract to Have Legal Effect

For the transfer contract to be legally valid, it must meet the following conditions:

2.1. Conditions Regarding the Parties

According to Clause 1, Article 117 of the 2015 Civil Code, a civil transaction is valid when it meets the following conditions:

  • The parties have legal capacity and civil act capacity appropriate for the transaction. Specifically, regarding real estate transfer:

    • Only those with land use rights or house ownership have the right to transfer the land or house they own, except for cases authorized under law.

    • The transferring parties must be at least 18 years old; persons aged 15 to under 18 wishing to participate must have consent from their legal representatives.

  • The parties voluntarily enter into the transaction.

  • The purpose and content of the transfer must not violate any prohibitions by law or social morality.

2.2. Sufficient Conditions to Exercise the Transfer Right

Transferor’s conditionsReal estate purchase and sale contracts with full legal information in the US (2)

According to Clause 1, Article 45 of the 2024 Land Law, a land user may transfer land use rights if they meet the following conditions:

  • Hold a valid Certificate of Land Use Rights, except in cases of inheritance, agricultural land consolidation, gifting land use rights to the State or community, and cases stipulated in Clause 7, Article 124, and Point a, Clause 4, Article 127 of the Land Law;

  • The land is not disputed, or disputes have been resolved by competent authorities with effective court judgments, arbitration decisions, or rulings;

  • The land use rights are not seized or subject to enforcement measures under civil enforcement laws;

  • The land is within the valid usage term;

  • The land use rights are not under temporary emergency measures according to law.

Usually, if the transferor meets these conditions, they are permitted to transfer the land. In some cases, the transferee must also not fall into prohibited categories.

Transferee’s conditions

Clause 8, Article 45 of the 2024 Land Law specifies cases where transferees are prohibited from receiving land use rights, including:

  • Economic organizations are prohibited from acquiring special-use forest land from individuals, except in cases where the land use purpose is changed according to approved land-use plans;

  • Individuals not living in protected forest areas are prohibited from receiving land use rights within strictly protected or ecological restoration zones;

  • Organizations, individuals, religious organizations, overseas Vietnamese, or foreign-invested entities that are legally prohibited from receiving land use rights.

Thus, only when both parties meet their respective conditions can the land use rights be transferred.
Real estate purchase and sale contracts with full legal information in the US

2.3. The Contract Must Be Notarized or Certified

According to Point a, Clause 3, Article 27 of the 2024 Land Law, contracts transferring land use rights or land use rights combined with ownership of attached assets must be notarized or certified, except when one or more parties are real estate business organizations.

This is a formal requirement; only contracts that meet the subject, content, and form conditions have legal effect.

See also: Latest conditions for house sale contracts

3. Some Notes When Drafting the ContractReal estate purchase and sale contracts with full legal information in the US (3)

  • Contract title:

    • If only transferring land use rights, state: “Transfer of Land Use Rights”;

    • If transferring both land and house, state: “Transfer of Land Use Rights and House Ownership”;

    • If transferring land, house, and attached assets, state: “Transfer of Land Use Rights, House Ownership, and Other Attached Assets.”

  • Personal income tax obligation: According to tax law, the income earner (seller) is liable to pay tax, but parties can agree on who will pay.

  • Registration fee obligation: According to Decree 10/2022/NĐ-CP, the party registering the change is liable for the registration fee, but parties may agree on who pays.

  • File appraisal fee: Usually paid by the buyer but subject to agreement between parties.

According to Point i, Clause 1, Article 5 of Circular 85/2019/TT-BTC, the appraisal fee covers the examination of dossiers and conditions for issuing Certificates of Land Use Rights, House Ownership, and attached assets, including issuance, re-issuance, and registration of changes.

The appraisal fee is determined by the Provincial People’s Council, so the fee varies across provinces.Real estate purchase and sale contracts with full legal information in the US (1)

Real estate purchase and sale contracts with full legal information in the US

Above is a sample real estate sale contract, conditions for its validity, and some notes when drafting the contract. When buying or selling real estate to expedite name transfer, follow the simple 3-step procedure for transferring the Land Use Rights Certificate.

For more detailed advice, readers can call the free land consultation hotline of LuatVietnam at 19006192.

Nguồn tin: luatvietnam. vn

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