Provincial National Assembly delegation collects comments on the draft Law on Real Estate Business (amended)

Conference scene. Photo: MH

Comrades: Thai Thi An Chung - Member of the Provincial Party Executive Committee, Deputy Head of the Provincial National Assembly Delegation; Tran Nhat Minh - Member of the National Assembly's Law Committee, full-time National Assembly delegate of Nghe An Provincial National Assembly Delegation chaired the conference.

The Draft Law on Real Estate Business (amended) is composed of 11 chapters and 92 articles; regulating real estate business, rights and obligations.,Responsibilities of organizations and individuals doing real estate business and state management of real estate business.

Comrade Le Van Dung - specialist of the Department of Construction and Document Inspection, Department of Justice participated in giving comments on the regulations on the examination for granting real estate brokerage practice certificates. Photo: MH

Participating in the discussion at the conference, delegates basically agreed on the structure and content of the draft. In addition, opinions also focused on analyzing and contributing many specific contents.

It is necessary to clarify the concept of "real estate business" in cases of selling assets attached to land; dividing projects; leasing a part of a construction project (such as leasing a factory roof for solar power generation)... whether it is considered real estate business or not.

Delegates attending the conference. Photo: MH

There are suggestions to supplement the conditions for future housing and construction works to be put into business, including having a Land Use Rights Certificate; the project must be approved by a bank to provide a guarantee for the investor's financial obligations to the home buyer or renter when the investor fails to hand over the house according to the schedule committed to the customer in the contract.

Regarding the transfer of land use rights with technical infrastructure in real estate projects to individuals to build their own houses, it is recommended to clarify whether after people receive the transfer of land use rights, they must build houses according to the project's schedule or not; if they must build, it is necessary to clearly define the responsibilities in case individuals do not build houses according to the project's schedule, the investor or that individual will be punished and dealt with.

Comrade Nguyen The Phiet - Head of Housing and Real Estate Market Management Department, Department of Construction, contributed comments on the regulations on transferring land use rights with technical infrastructure in real estate projects to individuals who build their own houses. Photo: MH

There are opinions pointing out the unreasonableness in practice, real estate business transactions are civil transactions between investors (or trading floors, individual brokers) and customers without going through state agencies or local authorities. When state agencies conduct inspections, project investors and real estate trading floors do not present signed sales contracts and deposits.

In addition, there are many cases where investors circumvent the law by not directly selling products but letting real estate trading floors and individual brokers perform, sign reservation agreements (goodwill reservations) or contracts promising to buy, promising to sell;...

Comrade Doan Manh Ha - Deputy Director of the State Bank of Vietnam, Nghe An Province Branch, commented on the regulations on guarantees in the sale and lease of future housing. Photo: MH

Meanwhile, the draft has no regulations to resolve the above-mentioned problems; at the same time, there are no regulations on the state management responsibilities of local authorities at the grassroots level (district and commune levels), although the district and commune authorities where the project is located are the agencies that closely monitor and have the most timely and accurate grasp of business activities at the project.

Therefore, it is very difficult for the Provincial People's Committee to manage real estate business activities in the area, especially to manage violations in real estate business.

Comrade Nguyen Thi Minh Tam - representative of Nghe An Tax Department gave her opinion at the conference. Photo: MH

Regarding the conditions for transferring all or part of a real estate project, there are opinions suggesting dividing it into two cases: Project investors who have been allocated land or leased land by the State and project investors who have not been allocated land or leased land by the State. Because this issue is related to the rights and obligations of the investor after receiving the transfer and is related to the transfer of the project associated with the transfer of land use rights.

Some opinions also contributed to regulations on examinations for granting real estate brokerage practice certificates; conditions for managers and operators of real estate trading floors; guarantees in the sale and lease of future housing...

Comrade Tran Nhat Minh - Member of the National Assembly's Law Committee, full-time National Assembly delegate of Nghe An province received and acknowledged comments at the conference. Photo: MH

Based on the opinions of the delegates, Comrade Tran Nhat Minh - Member of the Law Committee of the National Assembly, full-time National Assembly delegate of the National Assembly Delegation of Nghe An province, received, acknowledged and said that he would fully synthesize the opinions to report to the National Assembly Standing Committee; at the same time, study and participate in discussions at the 5th Session of the 15th National Assembly.