Conditions for Transfer of Real Estate Projects
A real estate project to be transferred must satisfy the following conditions:
a) The project has been approved by a competent state authority through an investment policy decision, approval of investment policy, or investment approval; and the investor has been selected or recognized in cases where procedures for investor recognition are required;
b) The project has an approved detailed planning in accordance with the laws on construction and urban planning;
c) The project, or the portion of the project to be transferred, has completed land compensation, support, and resettlement. In the case of transferring an entire infrastructure development project, the technical infrastructure works must have been constructed in accordance with the approved schedule, design, and detailed planning under the laws on construction, urban planning, and the approved project contents;
d) The land use rights of the project or the transferred portion are not subject to disputes under notification, acceptance, and resolution by competent authorities; or, in the case of disputes, such disputes have been resolved by legally effective judgments, decisions, or arbitral awards; the land use rights are not subject to distraint for judgment enforcement; are not prohibited from transactions under law; and are not under suspension or temporary suspension of transactions in accordance with law;
đ) The project is not suspended, terminated, or subject to land recovery by competent state authorities. In cases where the project or part thereof is subject to administrative penalties, the investor must have fully complied with the administrative penalty decisions of competent state authorities in accordance with the law on administrative sanctions;
e) Where the project is mortgaged as security for obligations under law, it must be released from the mortgage (discharged);
g) The project is still within its implementation period;
h) In the case of transferring a portion of a real estate project, the transferred portion must ensure that the construction works or their intended purposes and business functions are capable of being operated independently from the remaining portions of the project.
(Legal basis: Clause 1, Article 40, Law on Real Estate Business 2023)
