Housing Contract

Housing Contract

A housing contract shall be agreed upon by the parties and must be made in writing, including the following contents:

1. Full name of the individual(s), name of the organization(s), and addresses of the parties;

2. Description of the characteristics of the housing subject to the transaction and the characteristics of the residential land plot associated with such housing.

   For contracts of purchase, hire-purchase of apartments, the parties must clearly specify: common ownership and common use areas; the lifespan of the apartment building according to the design dossier; the private ownership area; the apartment’s floor area; the intended purposes of common ownership and common use areas in the apartment building in line with the approved design; the service fee for condominium management and operation in cases where the first apartment building meeting has not yet been organized; obligations and level of contributions to the maintenance fund and the account information for payment of such maintenance fund.

3. Capital contribution value, housing transaction price if the contract specifies a price; in cases of purchase, hire-purchase, or lease of housing where the State stipulates a price, the parties must comply with such regulation;

4. Term and method of payment in cases of purchase, hire-purchase, or lease of housing;

5. Time of handover of the housing; warranty period of the housing if it is newly constructed housing for purchase or hire-purchase; lease-purchase, lease, mortgage, lending, lending for stay, authorization of housing management duration; capital contribution period; ownership duration in case of housing with limited ownership term;

6. Rights and obligations of the parties.

   In case of hire-purchase, the contract must clearly state the rights and obligations of the parties regarding repair of housing damages during the hire-purchase period;

7. Commitments of the parties;

8. Other agreements;

9. Effective date of the contract;

10. Date, month, and year of signing the contract;

11. Signatures and full names of the parties; in case of an organization, a seal (if any) and the position of the signatory must be affixed.

Legal basis: Article 163 of the Housing Law 2023.