Procedures for transferring all or part of a real estate project

Article overview

Transfer of all or part of a real estate project is a flexible solution that helps investors optimize profits and minimize risks. This process not only creates opportunities to restructure the investment portfolio but also opens up the possibility of cooperation with strategic partners, while creating favorable conditions for faster project development. In the following article, Long Phan will introduce the steps to transfer all or part of a real estate project.

Steps to transfer all or part of a real estate project
Steps to transfer all or part of a real estate project

Principles for transferring all or part of a real estate project

Pursuant to Article 39 of the Law on Real Estate Business 2023, the principles for transferring all or part of a real estate project are:

  • The investor may transfer all or part of the real estate project to another investor to continue investing in construction and business when the project is within the implementation period approved by the competent state agency.
  • When transferring real estate projects, it must be ensured that the planning and objectives of the project do not change; ensure the legitimate rights and interests of relevant parties.
  • After completing the transfer, the transferee inherits the rights and obligations of the transferring investor and is the investor of the project and part of the project that has been transferred. If the project has no changes in content, the transferring investor does not need to redo the documents, planning and project construction permit. If there are changes to the project content, the transferring investor must make adjustments to the above contents.
  • The transfer of all or part of a real estate project must meet the conditions specified in Article 40 of the Law on Real Estate Business 2023 and comply with regulations on form, purpose, land use term, Register land according to the provisions of the land law.
Principles for transferring real estate projects
Principles for transferring real estate projects

Documents for transfer of all or part of a real estate project

Pursuant to Clause 3, Article 10 of Decree 96/2024/ND-CP, documents for the transfer of all or part of a real estate project under the Prime Minister’s authority to decide to permit transfer are:

  • Document from the project investor requesting permission to transfer all or part of the real estate project according to the form in Appendix XII promulgated together with this Decree;
  • Decision on investment policy or approval of investment policy or investment approval of real estate project by a competent state agency according to the provisions of the Law on Investment, Construction, and Housing;
  • Documents of competent state agencies on investor selection and investor selection; decision or document recognizing the investor in case the project must carry out procedures for recognizing the investor according to the provisions of the Law on Construction and Law on Housing;
  • Decision approving the detailed planning or master plan of the real estate project by the competent state agency according to the provisions of the Law on Construction and urban planning;
  • Land documents include: Decision on land allocation, land lease, and permission to change land use purposes to implement projects from competent state agencies according to the provisions of land law. Minutes of handover of land for project implementation on the ground from the competent state agency to the project investor in accordance with the provisions of land law;
  • In case a project or part of a real estate project is mortgaged, there must be documents showing that the mortgage has been released according to the provisions of the law;
  • Acceptance documents according to the provisions of the Law on Construction on completion of the investment in the construction of corresponding technical infrastructure works according to progress, design, detailed planning, and approved project content for the project. In the case of transferring the entire infrastructure construction investment project;
  • Confirmation from the tax authority that the project investor has fulfilled the project’s financial obligations regarding land to the State and documents showing that the investor has paid fees and charges related to land (if any) specified in Clause 3, Article 40 of the Law on Real Estate Business;
  • For state-owned enterprises transferring all or part of a real estate project, there must be documents proving compliance with legal regulations on management and use of state capital invested in production and business at the enterprise;
  • Report on the real estate project implementation process up to the time of transfer according to the form at Appendix XIII promulgated together with this Decree;
  • Agreement on the transfer of all or part of the real estate project between the transferor and the transferee (if any).
Carefully preparing real estate project transfer documents is an important step
Carefully preparing real estate project transfer documents is an important step

Procedures for transferring all or part of a real estate project

Procedures for transferring all or part of a real estate project are decided by the Provincial People’s Committee

Pursuant to Article 11 of Decree 96/2024/ND-CP, procedures for transferring all or part of a real estate project whose investment is decided by the Provincial People’s Committee include the following steps:

Step 1: The investor submits the application to the Provincial People’s Committee or the state management agency on real estate business at the provincial level authorized by the Provincial People’s Committee.

Step 2: Within 30 days from the date of receiving complete and valid documents, the Provincial People’s Committee is responsible for obtaining opinions from relevant local agencies and organizing the appraisal of the transfer documents.

Step 3: Within 15 days from the date of receipt of documents and documents seeking opinions from the Provincial People’s Committee or the state management agency on real estate business at the provincial level, the consulted agencies will have their opinions on the content within the scope of assigned state management for the contents specified in Article 4, Article 39 and Article 40 of the Law on Real Estate Business.

Step 4: After a decision to allow the transfer of all or part of a real estate project is made by the Provincial People’s Committee, the parties are responsible for implementing the provisions in Clauses 6, 7, and 8, Article 10 of the Decree.

Procedures for transferring all or part of a real estate project are decided by the Prime Minister

Pursuant to Clauses 3 to 9, Article 10 of Decree 96/2024/ND-CP, procedures for transferring all or part of a real estate project whose investment is decided by the Prime Minister include the following steps:

Step 1: Investors submit documents to the Provincial People’s Committee

Step 2: Within 45 days from the date of receipt of complete and valid documents, the Provincial People’s Committee is responsible for obtaining opinions from the Ministry of Construction and relevant ministries, branches and agencies and organizing the appraisal of the transfer documents transfer and submit to the Prime Minister for consideration and decision.

Step 3: Within a maximum period of 60 days from the date of the decision permitting the transfer of the project or real estate project, the transferor and transferee are responsible for completing:

  • Sign transfer contract
  • Hand over the project, and transfer the project part and all documents to the transferee; This handover must be made in writing.

At the end of the above time limit, if the parties do not complete it and the competent authority does not issue a decision allowing the transfer of the project or the real estate project portion to extend the implementation time, this decision will expire.

Step 4: The project transferee may continue to implement the project and project portion after receiving the project and real estate project portion and completing the obligation to pay taxes, fees, and charges (if any).

Step 5: The parties are responsible for carrying out land registration procedures according to the provisions of land law.

Consulting services and support for transferring all or part of real estate projects

Transferring all or part of a real estate project is a process that helps you make the most of the property’s potential and minimize investment risks. With many years of experience in the real estate field, Long Phan is proud to provide professional, reliable transfer consulting and support services with activities such as:

  • Legal advice related to the transfer, ensuring full compliance with legal regulations.
  • Evaluate the actual value of the project.
  • Prepare transfer documents, ensuring transparency and clarity in all terms.
  • Negotiate and complete the transaction.
  • Assist parties in registering land changes and adjusting post-transfer documents if necessary.

The process of transferring all or part of a real estate project must comply with the correct procedures as prescribed by law. Understanding the steps will be the basis to help investors optimize costs and save time. If you have any questions, please contact Long Phan immediately via the hotline 0906735386 to receive a free consultation and start trading successfully.