One house with multiple owners - how to? - Vietnam forum

One house with multiple owners - how to?

493POSTS

5 years ago

Is it possible to legally register more than one owner (not spouses nor siblings) for the same house? Or what would be a good way to co-own a house (not an apartment in a building) in Vietnam? Would we need to form some type of corporation? I

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ekw540hcmc New member

8POSTS

5 years ago

This question came up for me recently too and I am assuming both of the potential owners are vietnamese?
In short answer it was Yes.
But it can get complicated.
They would need to have a private agreement that if either one wants to leave ownership, the other person has first refusal to buy. If he doesn't buy then the person leaving can sell his interest to a 3rd person.
Can get more complicated too if the house goes up, goes down etc

Kurterino Serial expat

493POSTS

5 years ago

ekw540hcmc wrote:
This question came up for me recently too and I am assuming both of the potential owners are vietnamese?
In short answer it was Yes.
But it can get complicated.
They would need to have a private agreement that if either one wants to leave ownership, the other person has first refusal to buy. If he doesn't buy then the person leaving can sell his interest to a 3rd person.
Can get more complicated too if the house goes up, goes down etc

Yes, both owners are Vietnamese. It would be great if a non-Vietnamese could participate as well, but I鈥檓 quite聽 sure that鈥檚 not an option, since by himself he/she couldn鈥檛 purchase land at all.
My question is this: obviously you can make a contract between several owners, but would that also be reflected in the communal registry? (or whatever it鈥檚 called, where land titles are registered and stored. English isn鈥檛 my first language...) Because, if officially it鈥檚 only owned by one person, there will always be a considerable risk, that this one person (or his/her heirs) decides to sell it to someone.