The National Assembly has passed the Law amending and supplementing a number of articles of the Law on Notarization. The Law takes effect from January 1, 2027.
The law stipulates that transactions that must be notarized are important transactions, requiring strict participation conditions, a high level of legal safety and required by specialized laws to carry out notarization.
The Ministry of Justice is assigned to preside over and coordinate with relevant ministries and sectors to review, update and publicize the list of transactions subject to notarization on the electronic information portal.
Compared to current law, compulsory notarization transactions are narrowed down, only regulated by specialized laws, no longer included in government decrees. Therefore, 6 types of transactions that were previously required to be notarized under decrees will be abolished.
These transactions include: a power of attorney from a person who has left the country for another person to stand in for buying houses belonging to public property; a contract to transfer real estate business contracts; a capital contribution agreement with land use rights of co-owners; a power of attorney to resolve judgment enforcement related to property when the judgment debtor has left the country; a power of attorney to exercise the right to complain; and a contract to transfer the Bailiff Office.
The Law amending and supplementing a number of articles of the Law on Notarization is revised in the direction of not specifying a specific list but setting out general criteria to determine transactions that must be notarized.
This approach helps narrow the scope of application, while limiting the risk of overlap and conflict with specialized laws. This is to facilitate and reduce compliance costs for organizations and individuals and increase the transparency and stability of the legal system.
The list of transactions that must be notarized is published with reference value, serving for reference and uniform application nationwide, while ensuring the principle that only specialized laws regulate compulsory notarized transactions.
