Detailed And Specific Procedures For Depositing To Buy An Apartment

Deposit when buying an apartment is one of the solutions chosen by many people when they cannot execute the contract or transaction at that time.

According to regulations, deposit contracts in general and apartment purchase deposits in particular are not required to be notarized.

Deposit is one of the measures to ensure the performance of obligations and is performed according to the agreement of the parties. According to the provisions of the Civil Code, the Land Law, the Housing Law, deposit contracts in general and apartment purchase deposits in particular are not required to be notarized.

However, to ensure legality and have a basis in case of disputes, the parties should make a deposit contract according to the procedures in the Notarization Law below:

According to Article 40 of the 2014 Notarization Law, when coming to notarize the deposit contract, the requester must present a photocopy, printout or typed copy (copy) with full and accurate content as the original and does not need to be certified.

Table of Contents

Required documents

– Notarization request form (original – according to the form) including the following contents: Full name, address of the person requesting notarization, requested content, list of attached documents…

– Draft apartment purchase deposit contract (if any).

– Certificate of house ownership or related documents such as handover minutes… (copy).

– Identity documents of the depositor and deposit recipient (copy): Valid ID card/Citizen identification card/passport, household registration book/residence certificate, marriage certificate/single certificate…

– Other documents related to the apartment purchase deposit contract.

Documents to be presented

In addition to submitting copies of the above documents, during the notarization process, after the Notary has reviewed the draft deposit contract, explained the content of the draft, and when notarizing the contract, the Notary will request the parties to present the originals of the documents listed above.

After checking the originals, comparing them with the content of the contract, and seeing that they are fully legally valid, the Notary will perform the following steps.

Place of implementation

The place to notarize the apartment deposit contract is the notary organization: Notary office or Notary office where the apartment deposit is located (according to Article 42 of the Notary Law).

Processing time

Pursuant to Article 43 of the Law on Notarization, the time for notarization of a deposit contract for the purchase and sale of an apartment is from 2 to 10 working days. The notarization period will only be extended to 10 days if the apartment deposit has complicated content.