2.1 Contract and Deed
Most countries adopt a two-step process. The parties are bound by a contract and conduct a transaction by deed. Contracts usually have the signature of the seller and the buyer, sometimes with only the seller's signature.
For countries under the General Law, contracts are often more extensive and important terms are often expressed in certain ancient languages.
Contracts are in written form, but oral contracts are also accepted (English, Swedish, German written contracts are not mandatory).
Real estate rights are protected by law after being registered by the state; In order to encourage the registration of real estate transactions, the laws of other countries provide not only property rights, but also other rights such as mortgage, lease and customs clearance. Some countries stipulate that registration is compulsory for a certain period of time from the time the transaction is made, if the time limit is exceeded, the transaction contract is invalid.
There are 2 real estate registration systems:
The registration system is registered in the register (date, item) and stores the title deeds and other documents;
The Title Registration System, the registration based on certification, ensures the important information of real estate related to property and mortgages.
c. Information about real estate
All organizations and individuals involved in the real estate market (investors, buyers, lenders, mortgages, and other stakeholders) need access to status information. Legal aspects of real estate related transactions. The accessibility of the public to real estate registration information is important; The regulations of the countries in this regard are also very different, in Germany only the experts have access to registration information, any search must be authorized by the registry, while In the US information is accessed online. The Nordic countries (Sweden, Norway, Finland) are countries with modern land information systems (Land Information System) quite complete.
d. One Stop System
Administrative reform is an urgent issue for the public administration in general, especially in relation to real estate transactions. The One Stop System allows people to go to an agency only to deal with their real estate affairs. The Netherlands is pursuing this reform with the combination of a land information system (LIS) and a real estate information system (Real Property Information System).
3. Development of registration documents
3.1 Develop state registration documents
- A number of central governments are responsible for registration (England, Netherlands, Denmark, Norway), a modern registration system with the help of information technology Information (GIS, LIS).
- Some other countries have registered to assign local authorities, the registration process is more complicated and the quality is worse. In the United States, for example, there are about 3,000, with Texas having 254, the smallest being only 140, while the largest is 3 million. All counties have their own records. Information can only be obtained in the county where the property is located.
3.2 Develop a private application file
Under US conditions, there is a form of title insurance. Private companies operating in this field manage federal unofficial records and use them to search for Title Searches. The search is so effective that companies can profit, and customers use the service to high costs.
4. Legal aid
In the European continent and countries influenced by German, French, Spanish law, the participation of notary offices in the transfer of real estate is mandatory. The task of the notary is to draft the document and to ensure the agreement of the parties is lawful.
In other countries such as the United States, England and Sweden contracts are self-evident. Usually, the parties still rely on legal assistance from lawyers and real estate agents; Real estate companies also tend to use agents or brokers to reach more potential customers.
5. Real estate tax and valuation
5.1. Real estate tax
Property tax is the annual tax paid on real estate value. Legislation regulates taxable objects and tax bases and real estate tax planning. Real estate tax under central authority (Sweden), or local (USA, Denmark).
5.2. Valuation of real estate
The law specifies the valuation of real estate. Property tax must be based on the market price of the property. Real estate valuation helps the real estate market to be healthy, avoiding risks for both sellers and buyers.
6.1. Lender (Creditor)
The real estate market is a huge market. The prerequisite for a real estate credit market is the well-established and effective Banking Law. The role of the state is to monitor the activities of the lender and determine the capital base. In industrialized countries such as Germany and Nordic countries, the formation of professional credit institutions such as the Mortgage Association (Construction Associations), in Southern European real estate credit is also a translation. the importance of conventional banks.
6.2. Long-term loans
The real estate market needs long-term investment loans, almost no short-term loans. The problem is that lenders must mobilize long-term sources to meet these loans. In many countries, pension funds are one of the most important sources. Trust is a key element in long-term lending when the public chooses the bank to deposit the pension. This depends on the loan business and the size of the collateral of the bank.
6.3. Mortgage contracts
A classic mortgage is only a transfer transaction that allows the borrower to redeem his or her property by complying with the terms of the loan. However, mortgages are commonly used as collateral for a loan and borrowers still have ownership. The usual way to apply for a mortgage is that the borrower signs a promissory note as a proof of loan. The lender sends this form to the registry for registration. Or the borrower to apply for a mortgage deed, then transfer the certificate to the lender as evidence for the mortgage.
III. Land law / real estate countries
1. Australian Land Law
1.1 Regulations on land and real estate
Land law Australia includes land and its components lying on the ground, including the upper airspace, including the water surface, the lower part of the water surface and the space above the water surface. construction works and land, above and below ground or adjacent investment projects that affect the use of such land.
"With the purpose of determining ownership and use rights, the land is subdivided into separate plots, in practice in most parts of the world, land parcels are delimited vertically, This axiom theory is from the center of the earth in the direction of the strings going to the zenith. "
So a parcel of land (or a unit of real estate) is defined by the horizontal boundary and the vertical boundary that forms the block. The typical example to illustrate here is the high-rise apartment building on a parcel of land, in which case, the footprints are built above the land of the railway corridor. Space above the railroad is rented by the Railway Authorities).
"From an economic point of view, land is generally regarded as a separate factor or as a factor of production, unlike capital where no land use increase can be understood as complementarity. additional capital ".
1.2. Real estate / property rights systems
In Australia, there are two property rights / property regimes: One is the "Torrens" system, which is called the new property / property rights system. The system was founded by Count Robert Torrens; The second system under the Ordinance of the United Kingdom, is the old system.
The basic principle of the "Torrens" system is the establishment of land rights based on the registration and issuance of real estate / property certificates, not requiring types of deed certificates, Other related and complex time-consuming examinations as required in the old system.
Under the "Torrens" landlord system holds a certificate, which contains the area, the legal content, the plot rate of the plot of land, the basis of the map of storage premises related to land parcel, history of transactions / transfers related to the parcel of land since the parcel of land is registered under the law.
The "Torrens" system has created new developments in property, land / real estate transactions in Australia.
1.3 Rights on land
According to UK law, land ownership is not absolute; people are only entitled to own real estate on the land; Theoretically, only the right to rent the land of the Queen, but in fact there are long-term lease (999 years) enjoy the same benefits as ownership.
In Australia, one fifth of private landholdings are leased or used. Laws in all Australian states regulate relationships between landowners and landlords / tenants. In some cases the law restricts the rent for each type of property / property and provides for the protection of tenant / tenant rights and the rights of landowners.
2 Land law / real estate in China
2.1 Legal documents
On March 27, 1982, the General Administration for the Construction of the National City issued the "Provisional Regulation on the Management of the Production of Real Estate and Land and Housing in Towns".
On February 17, 1983, the State Council issued the "Regulation on the management of private houses in the city" stipulating the management of purchase and sale of private houses in the city;
December 12, 1984 Ministry of Environmental Protection, urban and rural construction issued the "Principles for evaluating and liquidating rental housing"
In 1985, the Ministry of Environmental Protection, Urban and Rural Construction and the General Statistics Office conducted the first nationwide survey of city houses and towns; In 1987, the city registered its first city-wide registration.
On September 15, 1986 the State Council issued a provisional regulation on property tax
September 29, 1988 National Council issues "Temporary Regulations on Land Use Taxes in Cities and Towns of the People's Republic of China"
August 8, 1988 The Ministry of Construction, the Bureau of Home Affairs, the Bureau of Industry and Trade Administration issued the "Notice on enhancing the management of real estate market transactions"
December 31, 1990 The Ministry of Construction issued the "Interim Measures Concerning the Management of the Production of Municipalities and the Rights to Housing in the City"
In 1992 the Ministry of Construction issued the "Interim Measures on the Management of Land and Housing Market in the City"
November 26, 1993 The State Council issued the "Temporary Charter on Value Added Tax on Houses of the People's Republic of China"
July 5, 1994 China issued the "Property Law";
 Yellow. Land and Property Law. Chinese Political University Press, 1997. Nguyen Quang Tho and Ton Gia Huyen 2004
2.2. The task of managing the housing market
According to the 1994 Law on State Property of the People's Republic of China:
To build the housing market management agency, strengthen the macro management of the administrative management agency with the housing market;
To complete regulations on the management of the real estate market in order to standardize acts of land and property transactions in order to make activities of managing the real estate market based on the law;
Housing reform and current rental regime;
Handling illegal transaction acts, preventing acts of encroaching upon property rights of houses and land.
2.3. Main contents of management of real estate market
Limited real estate transactions: Do not allow purchase, sale, lease or mortgage of illegal land;
Rules of transaction behavior such as: Verification of the transaction of property and property is clear, the transfer of property and land are mutually agree;
Coordination of housing prices, mainly based on the standard home prices, land types of the state to provide for the transaction parties;
Ensure tax collection for the state, in China the collection of taxes is mainly carried out by the transaction office.
IV. Legal framework of real estate market in Vietnam
1.1 Period 1975-1985
After the victory of the Spring 1975, Vietnam unified, independent, free, go up socialism. In the period 1975-1985, the Party and State issued many land policies to regulate land, encourage production development, reclaim land and expand agricultural production (Resolution 254 / NQ-TU dated 15/7/1976 of BCT, Directive 57 / CT-TU dated 15/11/78), improvement of cooperative management (Directive 100 / CT-TU dated 15/1/1981 reform of the economic management mechanism (Resolution No. 6 of the 9th session of September 19, 1979, Directive No. 35 / CT-TU dated 18 January 1984). The economic policy in this period is highly centralized planning. The State has the right to decide most of production and business activities and distribute products. to each enterprise or cooperative; purchasing most of the major products; Determining the prices of commodities and implementing the regime of distribution with coupons; Household and individual economy are not encouraged to develop. Land under the ownership of the entire people, land management under the plan is heavily administrative, not care about efficiency.
1.2 Period from 1986 to present
From 1986 to now, the Congress of the Communist Party of Vietnam (VI) (1986), VII (1991), VIII (1996), IX (2001) To modernize the country and build a market economy in the direction of socialism. The economic policy in this period has shifted from the planning mechanism, bureaucratic centralization to the multi-sectoral commodity-economy mechanism under the socialist orientation of the state.
The Resolution of the 8th National Party Congress confirmed: "Continue to renovate the economic management mechanism with the aim of eliminating the centralized mechanism, bureaucracy, subsidy, To complete the market mechanism under the management of the Socialist-oriented State "; (Document of the 8th Congress of the Communist Party of Viet Nam - National Political Publishing House, 1996, pp. 96-100).
The Resolution of the 9th Congress of the Communist Party of Vietnam defined: "Continue to create synchronous market factors, renovate and improve the effectiveness of economic management of the State. To formulate, develop and step by step complete the socialist-oriented markets, paying particular attention to important markets, which are not yet available or still in their early stages such as the labor market and the market. stock market, real estate market, science and technology market "(Document of the National Congress of the Communist Party of Viet Nam - National Political Publishing House -2001, page 100).
The land management mechanism has also been reformed to meet the requirements of economic reform. The Party's land policy was institutionalized. The 1992 Constitution of the Socialist Republic of Vietnam stipulated that land belongs to the entire people (Article 17). The State exercises unified land management in accordance with the planning and laws (Article 18). Land law 1993, 1998, 2001, 2003 also institutionalized the Party's land policy and concretized the land legislation of the Constitution.
Land Law regulates the principles of land management and use: land belongs to the whole people, the State unified land management in accordance with planning, laws, land use rational efficiency and savings. , protecting and improving land, protecting the environment for sustainable development; The rights of land users: they are granted LURCs, they are entitled to the fruits of their labor and the results of their investment in the land they have allocated, convertible, transferred, leased, inherited or mortgaged their land use rights. capital in the form of land use right for production and business; Obligations of land users: To use land for the right purposes, to protect land, to protect the environment, to pay taxes, fees and land use fees, to pay compensation when the land is allocated by the State or returned to the State. withdrawal decision. The Civil Code also specifies the civil relations related to the land use right.
2. Policies and policies on land management and real estate market