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Question: We are intending to co-operate with a partner to construct apartment building for rent on a parcel of land that the partner is using. Upon the initial agreement between us and the partner, we will contribute capital to construct the building and will receive a part of the building to operate. Can we be granted house ownership certificate for the part of the building? What kind of documents do we need to prepare?

Answer:

According to Decree 88/2009/ND-CP dated October 19, 2009 of the Government and Circular 17/2009/TT-BTNMT dated October 21, 2009 of the Ministry of Natural Resources and Environment on the certificate of land use right and ownership of houses and other assets attached to land in case where a land has a number of organizations, households or individuals who use the land and own assets attached to the land, each organization, household or individual shall be granted with a separate certificate of land use right and ownership of houses and other assets attached to land.

Therefore, you shall be granted with a separate house ownership certificate certifying your ownership of the part of the building that you receive upon the agreement between you and your partner.

In order to get the house ownership certificate, you shall have to have one of the documents on project of apartment building for rent such as project approval decision, investment decision, investment license or investment certificate.

You also shall have to have capital contribution contract or business co-operation contract or decision of the land user approving the construction of apartment building that have been notarized or certified true copy in accordance with the laws and copy of the documents on land use right in compliance with the Land law.

Please note that construction of apartment building for rent is one of the real estate business activities under Law on real estate business. Therefore, you shall have to establish a company or co-operative, have legal capital and register real estate business in accordance with provisions of laws.

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