Decree No. 25/2014/L-CTN promulgates the Law on Real Estate Business, which was adopted by the National Assembly on November 25, 2014. This Law regulates real estate business activities and applies to organizations and individuals participating in this field.
Scope of application
Organizations and individuals participating in real estate business activities.
Key points
- Organizations and individuals engaged in real estate business must register with competent state agencies in accordance with the provisions of the law on housing management and the real estate market.
- Organizations and individuals engaged in real estate business shall not carry out activities contrary to the law such as fraud, property theft, violation of planning, architecture, and environmental regulations.
- The Law stipulates the responsibilities of state agencies in managing and supervising real estate business activities to protect the legitimate rights and interests of all parties involved.
- Organizations and individuals engaged in real estate business must comply with transparency and disclosure requirements when transacting with customers.
- The Law provides for sanctions for violations in real estate business activities, including fines and other disciplinary measures.
🌐 Social impact of this document
- Positive impact: Strengthening state management of the real estate market, protecting consumer rights.
- Negative impact: It may create difficulties for small and medium-sized enterprises in complying with legal regulations.
- The entities most affected are organizations and individuals engaged in real estate business.
❓ Frequently asked questions
What registrations are required for organizations and individuals when engaging in real estate business?
According to the Law on Real Estate Business, organizations and individuals must register with competent state agencies in accordance with the provisions of the law on housing management and the real estate market.
How will violations in real estate business activities be punished?
The Law provides for sanctions for violations in real estate business activities, including fines and other disciplinary measures. Specific penalties depend on the severity of the violation.
Must organizations and individuals engaged in real estate business comply with transparency requirements?
Yes, organizations and individuals engaged in real estate business must comply with transparency and disclosure requirements when transacting with customers.
Are there any disciplinary measures other than fines for violations in real estate business activities?
The Law provides for sanctions including fines and other disciplinary measures, depending on the severity of the violation.
How will organizations and individuals engaged in real estate business be affected when this Law is promulgated?
Organizations and individuals engaged in real estate business need to comply with new regulations on state management and business operations. This may impose legal burdens but also protects the legitimate rights and interests of all parties involved.
Full text
| PRESIDENT OF THE STATE |
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
|
| Number: 25/2014/L-CTN | Hanoi, December 8, 2014 |
ORDER
Regarding the promulgation of the Law
___________
CHAIRMAN
SOCIALIST REPUBLIC OF VIET NAM
On the basis of Article 88 and Article 91 of the Constitution of the Socialist Republic of Vietnam;
Pursuant to Article 91 of the Law on the Organization of the National Assembly;
Pursuant to Article 57 of the Law on the Issuance of Legal Normative Documents,
NOW PROMULGATE
Real Estate Business Law
Passed by the National Assembly of the Socialist Republic of Vietnam, 13th term, 8th session on November 25, 2014./.
|
CHAIRMAN SOCIALIST REPUBLIC OF VIET NAM Truong Tan Sang |
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