Main Contents of Contracts in Real Estate Business
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Contracts for sale, lease, or lease-purchase of houses and construction works must include the following main contents:
a) Names and addresses of the parties;
b) Information on the real estate;
c) Sale price, rental price, or lease-purchase price;
d) Payment method and deadline;
đ) Bank guarantee for the investor’s financial obligations in case of selling houses to be formed in the future;
e) Time limit for delivery and receipt of the real estate and accompanying documents;
g) Warranty;
h) Rights and obligations of the parties;
i) Liability for breach of contract;
k) Penalties for breach of contract;
l) Cases of termination or cancellation of the contract and handling measures;
m) Methods of dispute resolution;
n) Effective date of the contract. -
Contracts for transfer or lease of land use rights with technical infrastructure in a real estate project must include the following main contents:
a) Names and addresses of the parties;
b) Information on land type, area, location, number, boundaries, and condition of the land lot, and attached assets (if any);
c) Duration of land use; price for transfer, lease, or sublease of land use rights, including attached assets (if any);
d) Payment method and deadline;
đ) Time limit for land handover and accompanying documents;
e) Rights and obligations of the parties;
g) Rights of third parties to the land lot (if any);
h) Liability for breach of contract;
i) Penalties for breach of contract;
k) Settlement of consequences upon contract expiration in the case of lease or sublease of land use rights;
l) Cases of termination or cancellation of the contract and handling measures;
m) Methods of dispute resolution;
n) Effective date of the contract. -
Contracts for transfer of the whole or part of a real estate project must include the following main contents:
a) Names and addresses of the parties;
b) Basic information of the approved project;
c) Detailed information on the whole or part of the project being transferred;
d) Transfer price;
đ) Payment method and deadline;
e) Time limit for handover of the whole or part of the project and accompanying documents;
g) Rights and obligations of the parties;
h) Responsibilities of the parties in carrying out administrative procedures related to land use rights;
i) Liability for breach of contract;
k) Penalties for breach of contract;
l) Cases of termination of the contract and handling measures;
m) Methods of dispute resolution;
n) Effective date of the contract. -
Contracts for real estate service business must include the following main contents:
a) Names and addresses of the parties;
b) Objects and scope of the services;
c) Requirements and expected outcomes of the services;
d) Duration for service performance;
đ) Service fees, remuneration, commissions;
e) Payment method and deadline;
g) Rights and obligations of the parties;
h) Methods of dispute resolution;
i) Effective date of the contract.
(Legal basis: Article 46, Law on Real Estate Business 2023)
