Once the contract is notarized and the original copy is received, the parties will pay taxes and transfer ownership to the buyer or transferee.
According to Clause 3, Article 167 of the 2013 Land Law, the following types of contracts and documents exercising the rights of land users must be notarized or certified: Contracts for the transfer, donation, mortgage, or capital contribution using land use rights, or land use rights and assets attached to the land. In addition, documents concerning the inheritance of land use rights, or land use rights and assets attached to the land, also require notarization or certification as prescribed.
To notarize a real estate purchase and sale contract, the buyer and seller do it themselves. Prepare the following documents and papers.:
1. Original land and house ownership documents (Certificate of ownership, right of use, or a copy of the substitute document prescribed by law for assets that are legally required to be registered for ownership or right of use in cases where the contract or transaction relates to such assets);
2. Original copies of the buyer's and seller's identification documents, including:
- Identity card/passport (still valid: identity card not more than 15 years old and passport not more than 10 years old from the date of issue);
- Registration book;
- Marriage certificate (if married); or Certificate of single status (if single or divorced);
- Additionally, in cases where authorization is required, the authorization document must be notarized, and the authorized person must also bring the original National Identity Card/Passport and Household Registration Book.
3. Original copies of other documents related to the land plot, such as tax declarations, etc. (if any).
4. Draft contracts or transactions prepared by the parties, or the parties may also request the notary to draft them themselves based on information provided by the parties.
Sequence
1. The parties must bring all the aforementioned documents to the notary office to request notarization of their contract or transaction.
2. After verifying the documents (if valid), the notary will proceed to draft the contract according to the parties' requirements (or based on the sample contract provided by the parties).
3. The parties review and check the content of the notarized contract.
4. The parties sign and fingerprint the contract, and the notary public notarizes the contract.
5. The parties pay the notarization fee and receive the original copy of the contract.
Note:
If the documents are incomplete, the notary will request additional information before notarizing. If signs of coercion or intimidation are detected, or if there is doubt about the legal capacity of the person requesting notarization, or if the subject matter of the contract or transaction is not clearly described, the notary will request clarification from the person requesting notarization or, at the request of the person requesting notarization, conduct verification or request an expert assessment. In cases where clarification is not possible, the notary has the right to refuse notarization.
Most contracts and transactions are notarized on the same day (approximately 1-2 hours depending on the number of clients at the notary office). According to regulations, the notarization period should not exceed 2 working days. For contracts and transactions with complex content, the notarization period may be longer, but not exceeding 10 working days.
After the contract is notarized and the original copy is received, for transactions involving buying, selling, transferring, or contributing capital, the parties will pay taxes and register the ownership in the name of the buyer or transferee.
The procedures for registering the transfer of land use rights are guided by Article 79 of Decree No. 43/2014/NĐ-CP dated May 15, 2014.
Lawyer Nguyen Minh Long
