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| An overview of the meeting__Photo: MOJ |
In an effort to finalise a draft decree replacing Decree 99 of 2022 on registration of security interests, the Department of Registration of Secured Transactions and State Compensation under the Ministry of Justice on August 7 held a meeting to review regulations on security interests in land use rights and land-attached assets.
The meeting was chaired by Nguyen Thi Thu Hang, the department’s Deputy Director General, and attended by representatives from the Legal Affairs Department and the Department of Land Administration under the Ministry of Agriculture and Environment, the Hanoi Land Registration Office, and the Hanoi Public Administrative Service Centre.
During the meeting, delegates reviewed challenges arising from the implementation of current regulations and revised regulations on the registration of security interests in land use rights and land-attached assets. The revisions aim at establishing a comprehensive legal framework for the provision of end-to-end online public services in this field.
Specifically, participants proposed abolishing the register book requirement for land-attached assets that are not subject to ownership certification under the land law. This proposal also covers non-residential property subject to registration whose ownership has not yet been registered under Article 3.3.a of Decree 99.
Delegates recommended that the registration of security interests in land use rights and land-attached assets take effect from the time the registered information is updated in the database.
They also called for registration dossiers to be submitted electronically and security interest registration certificates to be issued digitally to applicants.
In addition, participants reviewed and refined provisions on dossiers, order and procedures for registering security interests in to-be-formed land-attached assets and housing construction projects developed by project owners.
Discussions also covered procedures for registering the partial release of collateral being land use rights or land-attached assets, as well as regulations on determination of the effective time of registration when a security interest covers multiple land parcels updated individually in the database.- (VLLF)
