Decree 02/2022/ND-CP detailing a number of articles of the Law on Real Estate Business

DECREE

Detailing a number of articles of the Law on Real Estate Business^[1]

Pursuant to the June 19, 2015 Law on Organization of the Government; and the November 22, 2019 Law Amending and Supplementing a Number of Articles of the Law on Organization of the Government and the Law on Organization of Local Administration;

Pursuant to November 29, 2013 Law on Land;

Pursuant to the November 25, 2014 Law on Real Estate Business;

Pursuant to the November 25, 2014 Housing Law;

Pursuant to the June 17, 2020 Law on Investment;

At the proposal of the Minister of Construction;

The Government promulgates the Decree detailing a number of articles of the Law on Real Estate Business.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Decree details a number of articles and clauses of the Law on Real Estate Business, including provisions on conditions on organizations and individuals engaged in real estate business; real estate business contract forms; transfer of contracts on hire-purchase of ready-built houses and construction works; transfer of contracts on sale and purchase or hire-purchase of future houses; and procedures for transfer of the whole or part of real estate projects.

Article 2. Subjects of application

1. Organizations and individuals engaged in real estate business in Vietnam.

2. Agencies, organizations, households and individuals involved in real estate business in Vietnam.

Article 3. Interpretation of terms

In this Decree, the terms below are construed as follows:

1. Real estate put into commercial operation means all types of land-attached houses and construction works and types of land over which land use rights may be transferred, leased or subleased under Article 5 of the 2014 Law on Real Estate Business (below referred to as the Law on Real Estate Business).

2. Real estate project means a work construction investment project that is formulated, appraised and approved in accordance with the law on construction. Real estate projects include investment projects on construction of houses and construction works; investment project on construction of infrastructure facilities for transfer or lease of land use rights in accordance with law.

3. Real estate business contract means a written agreement made according to a set form provided in this Decree between an enterprise or a cooperative that fully satisfies the conditions for doing real estate business as specified in Article 4 of this Decree and an organization, a household or an individual on the establishment, change or termination of rights and obligations in sale and purchase, lease, or hire-purchase of houses and construction works, transfer, lease or sublease of land use rights, and transfer of the whole or part of a real estate project.