Guide the steps to the red book name 2019 of purchasing house and landing in Vietnam

Guide the steps to the red book name 2019 of purchasing house and landing in Vietnam

Step 1: Making contracts and notarizing contracts

The Land Law 2013 stipulates that a contract for transfer of land use rights must be notarized. Therefore, the transferor and the transferee should establish a transfer contract and go to a notary office to notarize the contract. According to Clause 1, Article 40 of the 2014 Notary Law, documents and documents to be prepared include:

  • The notarization request form;
  • Draft contracts, transactions;
  • Certificates of land use rights;
  • Identification documents of both parties (ID card or passport or ID card …);
  • Certificate of marital status if single or marriage registration certificate if married with both parties;
  • Household registration book of both parties.

The fee for notarization of land use right transfer contract is based on Circular 08/2012 / TTLT-BTC-BTP, if the contract value is from VND 100 million to VND 1 billion, the fee is 0.1%; If from 01 billion to 3 billion, the fee is 01 million VND + 0.06% of the value exceeding 01 billion VND …

Step 2: Declare financial obligations at the District People’s Committee where the house and land are located.When declaring financial obligations, the two sides should prepare a dossier as follows:

  • Registration fee declaration
  • Personal income tax return
  • Notarized transfer contract;
  • Certificate of land ownership
  • Copy of ID card, household registration book of both parties.

In particular, the payable personal income tax and registration fee are prescribed as follows:

  • Personal income tax: Currently, according to the Personal Income Tax Law, the personal income tax payable when transferring land use rights is 2% of the selling price. As a rule, this is a tax that must be paid by the seller but in fact the two parties may agree on who must pay this tax.
  • Registration fee: According to Decree 140/2016 / ND-CP, this fee is calculated by calculating the registration fee x Registration fee rate in percentage. In particular, the registration fee is 0.5%. Particularly for housing donations and inheritance, registration fees will be exempted, if there are records proving the donation or inheritance.

Step 3: Submit the application to the name at the district People’s Committee where the house and land are located. The profile includes:

  • Application form;
  • Household registration book, ID card of the buyer;
  • Certificates of land use rights;
  • Notarized transfer contract …

When submitting the application, the buyer must also pay some other fees such as: Cadastral fee; Appraisal fee; Red book issuance fee …. The time limit for implementing this procedure has now been shortened to a maximum of 10 working days (according to Decree No. 01/2017 / ND-CP).

After performing the above steps, the procedure for the Red Book name is considered complete. Hopefully with the above instructions of DDLC, Dong Du International Consulting Group HCMC, customers have more information before transferring land use rights.

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