There should be a single book containing all information on assets in replacement of the current “red” book (land use rights certificate under the Land Law) and the “pink” book (house ownership certificate under the Housing Law) or other papers, said Deputy Minister of Construction Nguyen Tran Nam at a meeting on May 10 to comment on the draft Law on Real Estate Registration.
Under the draft, real estate registration books, which reflect the status of and rights to real estate, would be kept at land-use rights registration offices (real estate registration offices). Persons with land use rights or ownership right to assets attached to land would be granted certificates of land use rights or ownership right to assets attached to land. That means, instead of granting “pink” or “red” books as currently, registration offices would manage original real estate registration books and grant certificates, as copies of originals, to people upon request.
Registration offices, but not People’s Committees as at present, should grant those certificates in order to reduce workload for People’s Committees and create more favorable conditions for people.
It is unnecessary to re-grant or renew previous papers on real estate except when those papers are damaged or their contents appear unsuitable to practical conditions, according to the draft.
According to Justice Minister Ha Hung Cuong, the law should define land to be subject to registration, while other real estate (governed by this law) subject to registration only upon request. It should also clarify the relationship between the registration of real estate and the registration of security transactions.
In the near future, the Ministry of Natural Resources and Environment would be assigned to perform the state management of real estate registration; or, when state management and registration can be separated, the Ministry of Justice would perform this function.
The draft law is expected to be submitted to the National Assembly for comment in early June.-