Apartment billions: There is no "empty hands" after 50 years

07/03/2017   Viewed: 620
Information on buying houses with red book is still "empty handed" after 50 years is causing confusion, causing many people to worry about billions of money. Experts say this is unlikely because property rights are protected by law.

Misunderstanding of 50 years
 
Home buying information 50 years of "lost" comes from the customer reflects on a house purchase contract of a project in Ho Chi Minh City. In this contract the owner has given information project was allocated land 50 years.
 
This has caused anxiety "spread" to the apartment projects have red book, long red book. The misunderstanding of the legal nature of the public makes consumers panic when they are spending billions to own the apartment.
 
Explain about this, according to lawyer Truong Thanh Duc, president of Basico law firm, this is the misunderstanding of the people. Several years ago, the Ministry of Construction proposed the ownership of apartments with specific ownership term.
 
However, this proposal does not get the public opinion because many opinions that it is difficult to get into reality. Therefore, projects with limited duration of ownership are very few and the owner's certificate must specify the specific time. For example, Pacific Ly Thuong Kiet senior apartment has a 40-year ownership term.
 
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Buying a house with a red book is still "empty handed" after 50 years is causing confusion. Illustration
 
Left, German lawyer said popular is long-term use, alone or in mixed works and are red book, pink book. In particular, the housing will be long-term ownership and other types such as offices, hospitals, schools ... have a new term of 50 years. For foreigners when buying a house in Vietnam is still inadequate, when only for 50 years, 50 years can apply for an extension.
 
Le Hoang Chau, Chairman of the HCM City Real Estate Association, explained that the investor was assigned 50 years of land as the time for implementing the project. The Land Law of 2015 has clearly stipulated that domestic or foreign enterprises will only be allocated land for 50 years in order to prevent investors from "soaking" land for too long, thus wasting land funds.
 
When moving to residential land, land area under the common use rights of the owners of apartments, granted pink books used for long-term stable as usual. This is clearly stated in the Land Law, which makes sure that homeowners are permanently owning their property because of the full payment of land use fees.
 
The property is fully guaranteed

 
According to lawyer analysis, customers can be completely assured of their rights when owning an apartment. Buying property and owning clear legal documents such as pink book means that the value of the property is guaranteed for a long time.
 
Concerns "The duration of use of condominiums shall be determined on the basis of the level of construction works and quality inspection conclusions of the provincial-level house management bodies which have condominiums" under Clause 1, Article 99 Housing Law 2014.
 
The lawyers said, depending on the quality, the works have a shelf life of 50-100 years. When the building is degraded, people can donate money to rebuild as landlords put money back to their houses.
 
In cases where the State or enterprise invests in renovating or rebuilding condominiums, the project investor shall have to make provision for temporary accommodation or payment of money for the relocated person to make his / her own accommodation within the dwelling time. Create, rebuild. Where there is a difference in value between the old and new dwellings, the payment for the difference will be made in accordance with the approved resettlement arrangement.
 
From the above can be seen, apartment buyers can be completely assured that there is no "lost" after 50 years. In fact, as well as homeownership, the benefits of owning an apartment are certainly guaranteed in the event of expiration.
D.Hai (Vietnamnet)

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