Proposal for new regulations on notarization authority for real estate transactions
The Government will stipulate the roadmap for exercising the authority to notarize real estate transactions nationwide after the notary database is put into operation.
On April 9, continuing the First Session, the National Assembly listened to the Government's Submission and the Appraisal Report of the National Assembly's Law and Justice Committee on the Law amending and supplementing a number of articles of the Law on Notarization.
The draft Law focuses on amending and supplementing a number of regulations related to the organization of 2-level local government and regulations on decentralization in state management of notarization.
At the same time, regulations on notarized databases (CSDL); the use of data to replace paper documents in notarization request dossiers and some other regulations to simplify notarization procedures.
One of the important contents in the draft law is to narrow the scope of compulsory notarized transactions.
Notarized transactions listed include transactions of buying and selling, transfer, donation, division of inheritance, capital contribution, mortgage with real estate objects between individuals, between individuals and organizations that do not engage in real estate business.
Along with that are other transactions of important nature, requiring strict transaction participation conditions and a high level of legal safety.
In case specialized law does not stipulate that notarization is required for the above transactions, it shall be implemented according to that specialized law.
The amendments and supplements as mentioned both narrow the scope of transactions subject to notarization and ensure no conflicts or overlaps with specialized laws, while expanding the scope of transactions subject to voluntary notarization when meeting sufficient conditions without having to continue amending the law.
The draft law also amends the regulations on the authority to notarize real estate transactions in Article 44 of the 2024 Law on Notarization.
Accordingly, transactions with real estate objects and deposit transactions for buying and selling, transferring real estate under the notary authority of notaries of notary practice organizations headquartered in provinces and cities where real estate is located, except for cases of notarizing wills, documents refusing to receive inheritance that is real estate and notarizing the amendment, supplementation, termination, cancellation of these transactions according to the provisions of law.
The Government stipulates the roadmap for exercising the authority to notarize transactions according to the provisions of this Article nationwide after the notarized database specified in Article 66 of this Law is put into operation and the relevant databases are announced by the management agency of the database.
Appraising the above content, the National Assembly's Law and Justice Committee basically agreed with the content of the draft Law.
According to Chairman of the Law and Justice Committee Phan Chi Hieu, the draft Law amends and supplements a number of regulations to transfer authority from the Minister of Justice to the Chairman of the Provincial People's Committee.
At the same time, amend and supplement a number of regulations on notary practice organizations to be consistent with the 2-level local government model.
The draft Law also simplifies notarization procedures. Clearly defines and expands the scope of real estate transactions notarized regardless of administrative boundaries and assigns the Government to develop a roadmap for notarizing real estate transactions regardless of administrative boundaries.
The Law and Justice Committee proposed to continue to study and improve some contents such as revising regulations on criteria for transactions that must be notarized in a more generalized direction, avoiding duplication and overlap with specialized laws.
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