THINGS TO NOTE WHEN TRANSFERRING LAND USE RIGHTS

Step 1: The parties need to consider the conditions between the buyer and the seller when making transactions on transfer, to the name of land use rights, assets attached to land

After that, the two parties make a contract for the transfer of land use rights and assets attached to the land and perform notarization at the notary office or the commune-level People’s Committee where the real estate is located. In the transfer contract it should be noted the following issues:

– The transfer information of the two parties must be accurate and consistent with their identity documents.

– The rights and obligations of the parties must ensure conformity with the provisions of law.

– Information on land parcels and assets attached to land must be accurate with the Certificate of Land Use Right, assets attached to land (specifying the number of sheets, number of parcels, land area, land use purpose, origin of land use, characteristics of assets attached to land, common use area, separate use area, structure, construction year (if any),…)

– Transfer price: can be detailed or recorded the total value of the transferred asset (note: the transfer price will directly affect the transferor’s tax obligations and other obligations).

– Time of land handover and registration of land use rights. The time of establishment of land use rights is the time when assets are recorded in the cadastral books of competent state agencies (land registration offices of district People’s Committees or assets with foreign elements are provincial-level Departments of Natural Resources and Environment where assets are located)

Step 2: Declare financial obligations at the People’s Committee of the district where the house or land is located

The two parties need to prepare a dossier to the branch of the land registration office of the district People’s Committee, the dossier includes:

– Registration fee declaration (2 copies declared and paid by the Buyer)

– PIT declaration (2 copies signed by the Seller, in case of donation, 4 copies)

– Notarized contract made (1 original)

– Certificate of land use rights, ownership of houses and other property attached to land (1 certified copy)

– Applicant’s CCCD (original for comparison)

– Power of attorney (in case the authorized organization or individual submits on its behalf)

– Confirmation of residence of the individual with financial obligations to the property.

Deadline for tax payment notice: 10 days After the notice, the taxpayer pays money to the state budget.

Taxes and fees to pay when transferring to the name of land use rights:

– PIT: 2% of the transfer price

– Registration fee: 0.5% of the entire area to be transferred

– Notary fee: based on the value of the property or contract, there will be a corresponding amount of revenue

– Fees for issuance of land use right certificates: Depending on the locality, there will be different revenues

– Application appraisal fee: Depending on the locality and applicable in case of initial issuance or reissuance or change of information in the certificate.

Step 3: Apply to transfer land use rights

It is necessary to prepare a set of declaration documents in the name at the branch of the land registration office of the District People’s Committee where the real estate is located.

– Application for registration of fluctuations (signed by the seller); In case there is an agreement in the contract about the buyer registering land fluctuations, the buyer will be the signatory instead.

– Contract for transfer of land use rights and assets attached to land (notarized according to regulations) (1 original)

– Certificate of land use rights, property attached to land (original)

– Certificate of payment to the state budget (original)

– Certified copy of ID/CCCD

– Certificate of residence of the transferee

Fees for changing the name of the certificate include:

– Cadastral fee: 15,000 VND/case

– Appraisal fee: The amount of revenue is equal to 0.15% of the value (to name) of transfer (At least 100,000 VND to a maximum of not more than 5,000,000 VND/case)