Article 184 of the Housing Law 2023 – Conditions for Mortgaging Housing Development Projects and Mortgaging Future Housing
1. Conditions for mortgaging part or the entirety of a housing development project, or mortgaging houses to be formed in the future, are stipulated as follows:
a) In cases where the project developer mortgages part or the entirety of a housing development project, the developer must have the project dossier, the project’s approved technical design, and a Certificate of land use rights or a decision on land allocation or land lease issued by a competent state authority;
b) In cases where the project developer mortgages future housing constructed within the project, in addition to the conditions stipulated at Point a of this Clause, such mortgaged housing must have its foundation completed in accordance with construction laws and must not fall within the part or the entirety of the project that has already been mortgaged under Point a of this Clause, unless it has been released from the mortgage;
c) In cases where organizations or individuals mortgage future housing on their legally owned residential land plots, they must possess documents proving land use rights in accordance with land laws and a construction permit, if required by construction laws.
Where organizations or individuals mortgage future housing purchased from the project developer, they must have a housing purchase contract signed with the project developer, a transfer document of the housing purchase contract if they are transferees, proof of payment for the housing made to the project developer in accordance with the payment schedule under the housing purchase contract, and the housing purchase contract or its transfer document must not be subject to any dispute, complaint, or lawsuit under laws on dispute resolution, complaints, or denunciations.
2. Conditions for mortgaging part or the entirety of a housing development project and mortgaging houses to be formed in the future must comply with this Law; any mortgage of part or the entirety of a housing development project or future housing inconsistent with this Law shall be invalid.
