PROPOSED CONTRACTING “PROMISE TO BUY, PROMISE TO SELL” IN REAL ESTATE TRANSACTIONS

According to the lawyers, transactions in the form of “promising to buy and sell” contracts often result in future disputes, reducing property values as well as causing many costs to the society. Although it is referred to in the Civil Law, there are no specific provisions for the types of contracts “promised to buy, promise to sell”.

Experts say that the completing a lack of a legal framework for these types of contracts puts customers in a position of “holding their tongues” when many customers’ understanding of the law is still very limited. Therefore, the authorities should soon study and put clear regulations on the types of contracts “promised to buy, promise to sell” into law.

https://vtv.vn/kinh-te/de-xuat-siet-hop-dong-hua-mua-hua-ban-trong-giao-dich-bat-dong-san-20220325080343851.htm

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