HCM City starts to grant house ownership rights to Viet Kieu
Source: 16-JUL-2008 Intellasia | VnExpress
Jul 16, 2008 - 7:00:00 AM From July 10, overseas Vietnamese (Viet Kieu) that had their own housing transactions can submit application to ask for house ownership certificates in the city's 24 districts according to Resolution 1037 of the National Assembly's Standing Committee.

Yesterday HCM City Construction Department completed and launched documents guiding districts' governance on specification of granting ownership certificates to Vietnamese who are living in foreign countries (Viet Kieu).

First off, civil housing transactions are under the Resolution 1037 ruling on leasing, borrowing, trading, exchanging, giving or mediating housing management right among individuals. Kinds of houses not be used for above purposes all will be under consideration of ownership granting if these transactions are completed before July 1, 1991.

The maximum housing ownership duration according to 1037 is 50 years from receiving the certificates. After 50 years, Viet Kieu individuals and institutions must sell or give those houses within 12 months as from the housing ownership certificate is expired.

Procedures of granting housing ownership certificates include request, copies of documents, trading contracts and receipts of tax and fee payment.

Within 30 days from receiving lawful applications, state agencies must grant housing ownership certificates to requesters.