Youme Law Firm LLC said: According to the provisions of Article 45 of the 2024 Land Law, land that wants to be allowed to be transferred and sold must meet 5 conditions, including having a red book, no disputes, not being seized or subject to other measures to ensure enforcement of judgments, still within the land use term, and not subject to temporary emergency measures.
The act of transferring land without meeting the above 5 conditions is also regulated with specific penalties in this decree.
Accordingly, Article 17 of this law stipulates a fine of 30-50 million VND for individuals; 60-100 million VND for organizations and is required to fully implement remedial measures.
The Decree also clearly stipulates the remedy for the consequences, which is to force the buyer to return the land. At the same time, it forces the termination of the mortgage contract using land use rights and the return of illegal profits gained from the violation.
In addition, land registration is required in cases where the land is eligible for a red book.
In case the seller is a dissolved or bankrupt organization or an individual who has died without heirs/moved elsewhere and is not subject to land reclamation by the State, the buyer must take all remedial measures for the consequences caused by the seller and is required to register the land for that land.
