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Question: Our Company is planning to purchase a floor in a high building for our office use there. This office might be used as mortgaged asset when we need to make a loan from a financial institution. In this case, we need to be granted a certificate of ownership with that office. But we wonder if it is possible for us to be granted such kind of certificate?

Answer:

Your establishment is within the area of a high building. It means that the whole building is under the joint ownership with other individuals or organizations. Therefore, some areas in the building are under join-ownership. And some other areas belong to sole owner.

According to Article 3.1, Decree No. 95/2005/ND – CP dated 15/7/2005 on issuance of certificate of house ownership, certificate of construction ownership (“Decree No. 95/2005/ND - CP”), the certificate of house ownership or construction ownership (the “Certificate”) issued under the regulations of this Decree is the legal base for the state protecting rights of relevant persons and for owners perform their rights and duties as regulated by laws.

Based on the Decree No. 95/2005/ND – CP, all houses, construction works are eligible to be granted with a construction ownership certificate except for the case prohibited by the laws.

Under the Article 5.4, Decree No. 95/2005/ND – CP, in case that house, construction work is under joint-ownership, in which, having areas belong to sole owners, the certificate shall be named with each owner for each separated part and be granted for each owner therein.

It is provided for in the Article 8, Decree No. 95/2005/ND – CP that conditions for an organization be granted with a construction ownership certificate are as follow: (1) Having legal entity status, be established and operating under the laws of Vietnam; (2) Having house, construction works that is legally developed in Vietnam by investing, purchasing, receiving as a gift, being inherited, exchanging or in other manners as stipulated by laws.

Notwithstanding, in the practice, there arises a matter of overlapping between the construction ownership certificate and the so-called “certificate for housing ownership and land used right”. For this matter, the issuance of construction ownership certificates under Decree No. 95/2005/ND – CP can not be implemented in the practice.

To solve this matter, the Resolution No. 07/2007/QH12 of the National Assembly requested the Government to amend Decree No. 95/2005/ND – CP in order for unifying the construction ownership certificate and the certficate for housing ownership and land-used right.

This means that in your case, to get an ownership certificate for a part of a building, you have to wait until the Decree No.95 is amended and it is expected that such amendment can be made and come into force in the early next year.

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