ASK:
Our company intends to liquidate a fixed asset that is an apartment for individuals. So, according to the law, does this fixed asset liquidation contract need to be notarized at a notary office?
ANSWER:
DHP LAW would like to answer your questions as follows:
Your company liquidating fixed assets is an apartment for individuals. This is a type of civil transaction that is regulated by law. Pursuant to Article 119 of the 2015 Civil Code, regulations on the form of civil transactions are as follows:
“first. Civil transactions are expressed verbally, in writing or by specific acts.
Civil transactions through electronic means in the form of data messages in accordance with the law on electronic transactions are considered written transactions.
- Where the law stipulates that civil transactions must be expressed in writing, notarized, authenticated or registered, such provisions must be complied with.
The property that you are liquidating is an apartment, so its form will be governed by the Law on Housing 2014. Pursuant to Article 122 of the 2014 Housing Law, regulations on notarization and legal authentication copper as follows:
“first. In case of purchase, sale, donation, exchange, capital contribution, house mortgage, or transfer of commercial house purchase and sale contract, the contract must be notarized or authenticated, except for the case specified in Clause 2 of this Article. ….
- In case the organization donates to the house of gratitude or charity; purchase, sale, lease purchase of state-owned houses; purchase, sale, lease-purchase of social housing, housing in service of resettlement; capital contribution by housing with one side being an organization; For rent, loan, stay, or authorization for housing management, it is not required to notarize or authenticate the contract, unless the parties have a need….
- The document of house inheritance is notarized or authenticated according to the provisions of civil law.”
According to the provisions of Article 119 of the Civil Code 2015 and Article 122 of the Law on Housing 2014, depending on the specific case of the company you sign the apartment liquidation contract, it will be done in accordance with the law. If your company’s apartment liquidation contract is a purchase, sale and capital contribution contract, you must notarize it to ensure the validity of the contract. If your liquidation contract is a contract for gifting a house of gratitude or a contract for renting or lending a house, you do not need to be notarized. However, if you want to be notarized, you can still do it.
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