3 real estate laws take effect from August 1, 2024

The National Assembly has just passed the Law on Amendments and Supplements to a number of articles of the 2024 Land Law, the 2023 Real Estate Business Law, the 2023 Housing Law and the 2024 Law on Credit Institutions.

03 laws on real estate take effect from August 1, 2024

The Law on Amendments and Supplements to a Number of Articles of the 2024 Land Law, the 2023 Housing Law, the 2023 Real Estate Business Law and the 2024 Credit Institutions Law was passed by the 15th National Assembly of the Socialist Republic of Vietnam, 7th session, on June 29, 2024.

Accordingly, the effect of three laws on real estate, including the 2024 Land Law, the 2023 Housing Law, and the 2023 Real Estate Business Law, will be amended as follows:

- Amendment of the effect of the 2024 Land Law

Article 1. Amending and supplementing a number of articles of Land Law No. 31/2024/QH15

2. Amend and supplement Clause 1, Article 252 as follows:

…

“1. This Law takes effect from August 1, 2024, except for the cases specified in Clauses 2 and 3 of this Article."

- Amendment of the 2023 Housing Law

Article 2. Amendment and supplement to Clause 1, Article 197 of Housing Law No. 27/2023/QH15

Amend and supplement Clause 1, Article 197 as follows:

“1. This Law comes into force from August 1, 2024.”.

- Amendment of the Law on Real Estate Business 2023

Article 3. Amendment and supplement to Clause 1, Article 82 of the Law on Real Estate Business No. 29/2023/QH15

Amend and supplement Clause 1, Article 82 as follows:

“1. This Law comes into force from August 1, 2024.”.

Thus, 03 laws on real estate take effect from August 1, 2024, including the 2024 Land Law, the 2023 Housing Law, and the 2023 Real Estate Business Law.

Amending transitional regulations on land allocation, land lease, and change of land use purpose when the 2024 Land Law takes effect

Amending transitional regulations on land allocation, land lease, and change of land use purpose when the 2024 Land Law takes effect in Clause 10, Article 255 of the 2024 Land Law as follows:

Investment projects that are subject to land allocation or land lease without auctioning land use rights according to the provisions of the 2013 Land Law, relevant laws and in accordance with land use planning and plans but have not yet been allocated or leased land shall continue to carry out the next steps in the order and procedures for land allocation or land lease to allocate or lease land to investors and project owners according to the provisions of this Law if they fall into one of the following cases:

- The project has selected investors and project owners in accordance with the provisions of the law on investment, the law on housing, and the law on bidding from July 1, 2014 to before August 1, 2024;

- Projects in which investors have submitted valid documents to carry out procedures for selecting investors and project owners before August 1, 2024 and have selected investors and project owners before January 1, 2025.

The selection of investors and project owners for projects specified in this point shall be carried out in accordance with the provisions of the law on investment, the law on housing, and the law on bidding in effect at the time of dossier submission.

In addition, Clause 4, Article 260 is amended as follows:

Land use plans, handling plans, rearrangement plans, and house and land handling plans approved by competent authorities according to the provisions of Resolution 132/2020/QH14 of the National Assembly piloting a number of policies to remove difficulties and backlogs in the management and use of national defense and security land in combination with labor production and economic construction activities before January 1, 2025, shall be implemented according to the approved plan.

Source: https://baoquocte.vn/3-luat-ve-bat-dong-san-co-hieu-luc-tu-ngay-182024-278861.html