Investors unpermitted to sell houses unless fully paying taxes, fees

SGGP
The HCMC People’s Committee has required the Department of Construction to not solve housing project transfer procedures and not permit investors to sell their products if they have not fulfilled financial obligations to the state.

On the left of the photo is a future property project in HCMC (Photo: SGGP)

On the left of the photo is a future property project in HCMC (Photo: SGGP)

Specifically, those investors temporarily paying part of land use fee to get land use right certificate but not fully paying the fee and other land relevant taxes and fees will not be allowed to sell their products.
The committee also asked the Department of Natural Resources and Environment to notice the legal status of projects and some limitations to land user rights in case investors have not completed financial obligations. That aims to reduce risks in credit relations or other trades.
In fact, many investors have not done their financial responsibility but still offered apartments for sale and handed over apartments to buyers. Therefore, customers are ineligible for getting house ownership certificates.
According to current regulations, housing investors must complete all relevant financial obligations to sell products and get house ownership certificates from the Department of Natural Resources and Environment for their customers.

By NHUNG NGUYEN – Translated by Hai Mien

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