Been look at buying an apartment in district 4.
I am from the UK and married to a Vietnamese.
http://www.moj.gov.vn/vbpq/en/lists/vn% … temid=5972
This seems to be a detailed list of rules explaining marriages and property.
Article 99 states that : Where the residential house being under private ownership of one party has been put to common use, when the couple divorce, such residential house still belongs to its owner who, however, must pay to the other party part of the housersquo;s value, depending on the latter's contributions to maintaining, upgrading, renovating and/or repairing the house. "
So my understanding is, even if the house is solely in my wife's name, she can not sell the house without buying me out. Even if I am not mentioned on the papers.
Putting that aside, I believe that it is possible to have dual ownership of the house anyway ? My name can be on the papers.
I am told there are two types of property in Vietnam.
1. Land is "rented", for example district 7 is rented by foreigner investors who have a 50 year lease on the land. Apartments are then built and essentially sub-leased to other investors. These properties it is not possible to own the "land rights". This original lease on the entire district 7 area is already 16 years through causing a influx in people selling apartments there and most likely a drop in prices as years go by, unless this original contract is renewed.
There has been confusion over this idea being for foreigners only, but upon detailed research I have understood that this is the same for Vietnamese and foreigners.
Any opinions on this?
2. Limited areas, district 4 being one of them it is still possible to own the original land rights. Which is one of the reasons for apartments in district 4 being significantly higher than places such as district 7.
This is a piece of paper where you own the land and not just the brickwork on top.
With these apartments, should they be knocked down, the government has to buy the land back off you.
This land ownership is also longer than a 50 year lease.
I suppose question 3 is:
All through these papers, it would seem as a foreigner married to a Vietnamese. I have all the same rights as a normal Vietnamese person.
Is this correct?