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A strange contract appeared when buying an apartment

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The Department of Competition warned that the market has appeared many types of contracts in apartment transactions with different names but no regulations on ownership.

The Department of Competition and Consumer Protection (Ministry of Industry and Trade) said that some consumers have reflected on some types of contracts in apartment transactions called “apartment rights purchase and sale contracts”. “property transfer contract”. In which, the object of purchase and sale is a tourist apartment contract or the right to use the apartment, not the ownership of the apartment.

These contracts, according to the buyer, are not based on the Law on Housing, the qualifying documents for the sale of future houses or the bank guarantee contract with the seller’s financial obligations in the future. case of violation of house handover; and the term of use of these apartments in the contract is 50 years.

With the form of a contract of sale and purchase of apartment rights, the inside only refers to the buyer’s use rights such as the right to use the apartment, the right to use the area under common ownership, etc., without mentioning the ownership rights. as well as the issuance of certificates of land use rights, ownership of houses and other land-attached assets to buyers.

The buyer also said that the investor informed them that these contract samples were registered with the consumer protection regulator and verified. The signing is in accordance with the regulations.

In order to avoid the above cases and similar incidents that may happenBefore the transaction, the Department notes that buyers need to check the basic information in the contract to determine exactly who they want to buy.Regarding this issue, the Department of Competition and Consumer Protection said that there had been a similar case before when people bought condotel apartments but mistakenly thought they were buying ordinary apartments. Only when they moved in, did they know the nature of the apartment and had encountered many shortcomings from this “mistake” such as not being registered for permanent residence, leading to a disadvantage in their children’s education or employment. online medical care.

For example, with the purchase and sale of an apartment, the Department said that the contract will stipulate:

The first is that the object of purchase and sale of the contract is “apartment”.

Second, the important bases for establishing contracts are: Law on Housing, Law on Real Estate Business; a written guarantee from the bank on the guarantee of the investor’s obligations related to the delay in handing over the apartment; a notice of the city’s Department of Construction on the sale of houses to be formed in the future or the record of acceptance of the works to be put into use by the competent authority.

The third is the purpose of using the apartment: for living

Fourth, the buyer is granted a certificate of land use rights, ownership of houses and other assets attached to the land…

According to this agency, if the contract contains confusing or strange provisions such as “tourist apartment”, “hotel apartment”, “property rights purchase and sale contract”, “property transfer contract”, etc. “, “the project does not form a residential unit”…, the buyer needs to ask the seller to explain, provide the legal basis, and find out more information by himself.

The Bureau also recommends that buyers verify information about the contract approved by the consumer rights protection agency.

For contracts related to real estate, according to regulations, businesses must register apartment purchase and sale contracts at the consumer rights protection agency before signing the contract. Other types of real estate-related contracts other than the purchase and sale of apartments are not subject to registration at these agencies.

To search, customers can search on the website of the Department of Competition and Consumer Protection or the Department of Industry and Trade where the project is located or contact directly for more information.

In addition, the customer compares the contract approved by the consumer protection agency with the one provided by the investor.

People should only make a deposit, sign any documents or purchase and sell contracts with the seller once they have fully understood the transaction object and have carefully studied the content of the contract as well as the legal documents. relevant,” emphasized the Department of Competition and Consumer Protection.

Duc Minh

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