Suspended billions of money for buying land by capital contribution contract

20/07/2017   Viewed: 498
Mr. Minh contributed capital of 2 billion to buy land subdivision in District 9, Ho Chi Minh City, but split the land failed to withdraw money.
The transaction took place almost a year ago but was suspended due to legal problems. At that time, Mr. Minh withdraw money savings, accumulation of the family to invest in land because of the great interest. I find it cheap, I buy two at a time since the landlord is preparing separate legal procedures pledged contract of capital contribution if the project is completed, I will be allocated 2 background, each lot 50-60m2 wide "Minh recalled.
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Many people are appropriated capital, must bury billions of carelessness when buying real estate by capital contribution contract.

However, separation of plots is not as convenient as planned. According to the capital contribution agreement, if legal and infrastructure improvements are completed, landowners will hand over Mr. Minh's foundation by the end of 2016. However, by July 2017, Complete parcel separation. However, under the agreement in the capital contribution contract, the force majeure case can not be finalized, the customer will be refunded all the money contributed after 24 months from the date of signing. Thus, guests buried 2 billion in 2 years without interest and also lost opportunity investment costs another channel.

"The seller told me this is the type of investment contract, the same food, the same loss because both parties are hurt so can not refund immediately and not compensate the interest rate as I requested. Probably the loophole of this kind of contract is already, "said Minh.

Another case is more sad, Ms. Hong paid 1.25 billion to buy 5 land in Nhon Trach by agreement to contribute capital transfer of land use rights from a broker. Ms. Hong knew that the broker did not sign a direct distribution agreement with the investor but through an intermediary and the amount she had closed was not transferred to the investor.

Too scared and financially difficult, Hong asked for money back, even to court. But even if the court summon parties to the mediation, the seller is always absent. In case of liquidation of this capital contribution, Ms. Hong will lose the deposit. In addition, the customer also lost all the money paid if not paid according to the committed schedule in the agreement on conditions for capital contribution of land use rights.

Also falling into the vicious cycle of the capital contribution, Dung bought land in a project of investors in Nha Be district (HCM City) nearly 10 years, buried more than 700 million. By June, 2017, waiting for not see the delivery platform, Mr. Dung went to the investor to explain the project can not compensate the ground clearance, more expensive and too expensive land use. Cause the project to stagnate.

The solution to this situation is to invest in a client or change to another location in a less attractive project. If the customer is not satisfied, the company will refund 700 million, no compensation whatsoever because this is a joint venture investment, risk shared by the parties. "If you receive about 700 million dong after 10 years, it's like the owner has taken up my capital and spent free of charge," Dung said.

Observing the loss of money and buried capital because of this type of capital contribution for many years, general director of the Joint Stock Company said that capital contribution contract or investment cooperation contract is essentially the form of capital Sophisticated capital to carry out the project. If careless, customers can be capitalized without doubt.

For example, company A is developing land or townhouses. Due to lack of implementation money or large expenses, enterprises have made use of the form of capital mobilization from customers at the time the project is preparing the legal procedures. The trump card of this form of capital contribution is the value of the offered property is quite decent or extremely cheap. If customers see this as an attractive investment opportunity, they will put pen-signing capital contribution contract, become partners of investors.

However, this is not a sales contract, so the end product that customers receive is often incomplete and depends to a large extent on the chance of the change, policy or legal change. The compensation commitments in the capital contribution contract are not as high as the sales contract, usually symbolic and payback, even without compensation. Because there are many unknowns, Mr. Chanh made three recommendations about this type of contract.

Firstly, when signing a capital contribution contract, the client should ask the investor to present the file of the product, the steps for the legal process. The most important thing is that the owner has to come up with all the possible scenarios for the project. For example: best script, average script and worst scenario. The purpose of enumerating scenarios to define the customer route may be experienced during the capital contribution. Since then, the investment poured thoroughly considered and sober before the pull of attractive opportunities.

Second: Customers should not place too high expectations when signing a capital contribution contract. It should be noted that the golden rule when investing is that high returns often go hand in hand with great risk. Cheap goods often have problems or unknowns that we have not found. Therefore, the more attractive the product, the higher the level of caution.

Third: Customers should actively negotiate the appendix and terms of compensation when the force majeure condition occurs for the capital contribution contract. Often nobody expects their investment project to fail, stagnating because it means a loss. In fact, there are few who abuse this issue because of taboos. But the more thoughtful preparation for a failure situation is the best way to ensure the safety of the investment through this contract.

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