Joint Circular No. 05/2007/TTLT-BTP-BXD-BTNMT-NHNN guides the procedures for mortgage registration of residential properties, applicable to parties involved in secured transactions using residential properties. The highlight is the implementation according to the Joint Circular and notification of mortgage registration.
Scope of application
The person authorized by the mortgagor or mortgagee, the Head of the Asset Management and Liquidation Team, the Land Registration Office, and the competent authority managing residential properties at the place issuing the ownership certificate of the residential property.
Key points
- The party requesting mortgage registration of residential properties may be the person authorized by the mortgagor or mortgagee in accordance with civil law regulations.
- The procedure and formalities for mortgage registration of residential properties are carried out in accordance with Joint Circular No. 05/2005/TTLT-BTP-BTNMT and Joint Circular No. 03/2006/TTLT-BTP-BTNMT.
- The Land Registration Office records the content of the mortgage registration in the land registry book, the Land Change Monitoring Book, or the Mortgage Registration Book upon receipt of a valid application file.
- The Land Registration Office does not record the content of the mortgage registration on specific types of documents and also does not create additional pages attached.
- The competent authority managing residential properties at the place issuing the ownership certificate of the residential property is notified about the mortgage registration of residential properties.
🌐 Social impact of this document
- The positive impact is ensuring consistency in implementing laws on mortgage registration of residential properties, facilitating the parties involved in secured transactions.
- The negative impact could be increased time and effort costs for the mortgage registration process due to compliance with many continuously updated regulations.
❓ Frequently asked questions
Who has the right to request mortgage registration of residential properties?
The party requesting mortgage registration of residential properties may be the person authorized by the mortgagor or mortgagee in accordance with civil law regulations.
What are the procedures and formalities for mortgage registration of residential properties?
The procedures and formalities for mortgage registration of residential properties are carried out in accordance with Joint Circular No. 05/2005/TTLT-BTP-BTNMT and Joint Circular No. 03/2006/TTLT-BTP-BTNMT.
Which specific documents do not record the content of mortgage registration?
The Land Registration Office does not record the content of mortgage registration on specific documents such as Certificate of Ownership of Residential Property and Right to Use Residential Land under Decree No. 60/CP, Certificate of Ownership of Residential Property under Decree No. 95/2005/NĐ-CP, Certificate of Ownership of Residential Property, and Certificate of Ownership of Residential Property and Right to Use Residential Land under Decree No. 90/2006/NĐ-CP.
Which authority is notified about the mortgage registration?
The Land Registration Office is responsible for notifying in writing about the mortgage registration of residential properties to the competent authority managing residential properties at the place issuing the ownership certificate of the residential property.
When does this Circular take effect?
This Circular takes effect fifteen (15) days from the date of publication in the Official Gazette.
Full text
JOINT CIRCULAR
Guidelines on certain aspects of registering mortgage on residential property
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Based on the Civil Code dated June 14, 2005;
Pursuant to the Law on Housing dated November 29, 2005;
Pursuant to Decree No. 62/2003/NĐ-CP dated June 6, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Justice;
Pursuant to Decree No. 36/2003/NĐ-CP dated April 4, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Construction;
Pursuant to Decree No. 91/2002/NĐ-CP dated November 11, 2002 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Natural Resources and Environment;
Pursuant to Decree No. 52/2003/NĐ-CP dated May 19, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
Pursuant to Decree No. 95/2005/NĐ-CP dated July 15, 2005 of the Government on issuing Certificates of Ownership of Residential Property and Certificates of Ownership of Construction Projects;
Pursuant to Decree No. 90/2006/NĐ-CP dated September 6, 2006 of the Government detailing and guiding the implementation of the Law on Housing;
Pursuant to Decree No. 163/2006/NĐ-CP dated December 29, 2006, issued by the Government, concerning security interests;
Pursuant to Decree No. 08/2000/NĐ-CP dated March 10, 2000 of the Government on registration of secured transactions;
In order to ensure uniformity in the enforcement of laws on the registration of secured transactions using residential property, the Ministry of Justice, the Ministry of Construction, the Ministry of Natural Resources and Environment, and the State Bank of Vietnam provide guidelines on certain aspects of registering mortgages on residential property as follows:
1. The registration of mortgage on residential property shall be carried out when requested by one of the parties or both parties who have signed a mortgage contract. In cases where the mortgage on residential property is registered according to the provisions of the law on bankruptcy, the person requesting registration may be the Head of the Asset Management and Liquidation Team.
The person requesting registration of mortgage on residential property may be someone authorized by either the mortgagor or the mortgagee in accordance with civil law regulations.
In cases where the mortgage on residential property is registered together with the right to use residential land, the Land Registration Office shall simultaneously carry out the registration of mortgage on residential property and the right to use residential land.
2. The procedures and formalities for registering mortgage on residential property as specified in Clause 1 of this Circular shall be implemented in accordance with Joint Circular No. 05/2005/TTLT/BTP-BTNMT dated June 16, 2005 of the Ministry of Justice and the Ministry of Natural Resources and Environment guiding the registration of mortgage and guarantee by the right to use land and immovable property attached to land (hereinafter referred to as Joint Circular No. 05/2005/TTLT-BTP-BTNMT), Joint Circular No. 03/2006/TTLT/BTP-BTNMT dated June 13, 2006 of the Ministry of Justice and the Ministry of Natural Resources and Environment amending and supplementing some provisions of Joint Circular No. 05/2005/TTLT-BTP-BTNMT dated June 16, 2005 of the Ministry of Justice and the Ministry of Natural Resources and Environment guiding the registration of mortgage and guarantee by the right to use land and immovable property attached to land (hereinafter referred to as Joint Circular No. 03/2006/TTLT-BTP-BTNMT), and in accordance with the guidance provided in this Circular.
3. Upon receipt of a valid application for registration of mortgage on residential property, the Land Registration Office shall record the content of the mortgage registration in the land registry and the land change tracking book.
In cases where the residential property is mortgaged but the Certificate of Ownership of Residential Property does not fully contain information about the residential land or there is no information about the plot of land where the residential property is located in the land records, the Land Registration Office shall record the content of the mortgage registration in the Mortgage Registration Book for Residential Property according to the model issued along with this Circular.
4. The Land Registration Office shall not record the content of the mortgage registration, amend the mortgage registration, or delete the mortgage registration from the following documents, nor shall it establish supplementary pages attached to these documents:
a) Certificate of Ownership of Residential Property and Right to Use Residential Land pursuant to Decree No. 60/CP dated July 5, 1994 of the Government on the ownership of residential property and the right to use residential land in urban areas;
b) Certificate of Ownership of Residential Property pursuant to Decree No. 95/2005/NĐ-CP dated July 15, 2005 of the Government on issuing Certificates of Ownership of Residential Property and Certificates of Ownership of Construction Projects;
c) Certificate of Ownership of Residential Property, Certificate of Ownership of Residential Property and Right to Use Residential Land pursuant to Decree No. 90/2006/NĐ-CP dated September 6, 2006 of the Government detailing and guiding the implementation of the Law on Housing.
5. The Land Registration Office shall notify in writing the registration of mortgage on residential property to the competent authority managing residential property that issued the Certificate of Ownership of Residential Property in accordance with the procedure stipulated at Point 12.3 Clause 12 of Joint Circular No. 03/2006/TTLT-BTP-BTNMT.
6. Organizations and individuals have the right to inquire about information on registered mortgage on residential property at the Land Registration Office in accordance with Section VII of Circular No. 29/2004/TT-BTNMT dated November 1, 2004 of the Ministry of Natural Resources and Environment on guiding, amending, and managing land records.
7. Implementation
7.1. This Circular shall take effect fifteen (15) days after its publication in the Official Gazette.
7.2. The provisions in Clause 4 of this Circular replace the provisions on registration of mortgage and correction of mortgage registration in the Certificate of Ownership of Immovable Property Attached to Land specified in Points 4.1 Clause 4 Section III, Point 4.1 Clause 4 Section IV, Point 3.1 Clause 3 Section VI, and Point 4.1 Clause 4 Section VII of Joint Circular No. 05/2005/TTLT-BTP-BTNMT; Clauses 8, 9, and 10 of Joint Circular No. 03/2006/TTLT-BTP-BTNMT.
7.3. Mortgages on residential property that have been registered in accordance with the law before the effective date of this Circular do not need to be re-registered in accordance with the guidance in this Circular.
7.4. During the implementation process, if there are difficulties or obstacles, individuals and organizations should promptly report them to the Ministry of Justice, the Ministry of Construction, the Ministry of Natural Resources and Environment, and the State Bank of Vietnam for research and resolution./.
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