Seen from Cocobay service: Could not delay triggers a legal framework for Condotel
Project information Cocobay Danang TPhuong speech ended commitment profit of 12% / year
as well as several projects other Condotel Property breaking ball attracted commitments of up to 15% will create
the fluctuations are not small for the housing market.
For greater clarity from the perspective of legal, Reuters, appeared an exchange swap with Pham Thanh Binh (Company Law Bao Ngoc,
Hanoi Bar Association).
Recently, investors Cocobay Danang customer information to customers about the
not pay profits as assured. Then spend the plans to
customer preference. Viewed from a legal perspective he commented how
about this information? State spending on investment capital contribution should only how to protect your family's benefits
in this case?
Condotel model "hybrids" between houses and hotels, often built
Construction of City life. HCM large, large resorts. In form, it is
Is communities but operate as one hotel.Mo this as affirmation of creative combinations between housing investment, leasing
and rest should have quickly proved Nearby neatly in a few years time
Most are people Condotel investment capital transfer for consumers
things offered as house purchase contract, which investors take secondary
ssinh useful product life, is owned vacation home in 10-15 days, some days
the investor will stand out for rent and pay the price difference from the confirmed amount
Rental apartments by 10-15% / year.
Contracts to buy and sell apartments at Cocobay Condotel signed between the investor and so the
secondary investors also built in this form, particularly reassured profit
to bring 12% / year.
However, after 3 years of commitment to pay profits to the secondary CDT
suppliers, investors can not continue to practice with the commitment profits
customer as impossible to achieve profits of 12% / year as scheduled early childhood.
Investors have shown 3 measures for user selection and so far,
known investors still receive the news comment from
buyers to classify, to finish under three schemes were launched.
On the legal side to see that the sales contract signed between the apartment owner
and secondary investors is compatible with the norms of Article 117 of the Department
Civil Judgments Act 2015 on conditions including enforcement of civil transactions; contract
it does not violate the rules of civil transactions from Article 123 removal
to Article 133 of the Civil Code in 2015 should the parties to this contract are mating
If one party to unilaterally end, cancel the contract or suggested edits case
Council is also legal to have unacceptable.
During conducting papers, one side (investors) that are not
can regularly contracts (commitments profits) may be single
Motto termination or amendment proposed cooperation agreement the parties have entered into.
However unilaterally terminate or modify the contract should also comply
the terms of the clause, as well as committed in the papers.
The essence of the sale apartment condotel type of business investment,
Answer error loss, if contradictions arise absolutely no dispute that the agreement is reached, the
victims can bring a civil lawsuit, the Court recommended done.
For Condotel at Cocobay, the investors stopped paying interest notice
Net commitment and set out the options for customer choice options, are considered
as a contract amendment.
Options giving investors given the will of investors desire
client-side cooperation, agreement for settlement and handling the consequences and difficulties
by a party in the contract holder must encounter.
To ensure the safety of their own interests, the investor should consider choosing alternatives
is best suited to the conditions attached to your exact.
In case the investor can not found a reasonable plan, not
continuity with the request of the investor, you can use the right to initiate
by way of court conditions.
Viewed from the perspective of a lawyer, he shaped the stars of type
Condotel? He has found it contained the legal risk when not completed
At that time, Vietnam said law public and private including the specialized law
(Such as BDS activities Law, Housing Law alive, the Land Law) are not appearing
precise rules to regulate business activities Condotel, although
scale Condotel made from within this cluster, disproportionate to the principle of self
activity, large companies are designing things not prohibited by law.
Also because no one should Condotel legal framework for trade
this model is facing multiple obstacles: while businesses do not become
prohibit making, people are not prohibited transactions and misappropriation apartment condotel
but when entering into business transactions of this type, both the investor and
Secondary investors have encountered difficulties from the very busy legal loophole
justice, create a lot of obstacles and crisis risk.
Condotel marketing directly attached to an estate with great quality but
lack of legal provisions to guarantee, at least, well-defined
clear that the room is a kind of Marketing Commercial real estate, a plan of
investment or a type of financial investment?
Because no precise legal regulations, in particular, such transparency should
investors and secondary investors faced many crises, like
entered the battle without any weapons to insure.
However, mention must also add: Problem lacks a legal framework is not
The only reason to do business for condotel meet that arduous
Condotel investors like secondary investors also faced
the objective risks from market share that all business types do well
may encounter as inflation, exchange rates, the major breakthrough
books or the "hot air" market ... which investors can hardly measure
According to this model continues to develop, it should complete legality
of this model in the direction of how he had suggested something specific?
Admittedly Condotel model is now relatively more advantages because it take Vietnam
maximum advantage of two strengths of the "business" and "housing". Main so that
condotel market developed rapidly, but the taste is high volume supply
remains low by this new type of presence from about 2006, mostly in
the coastal resort projects.
Be heard late in 2018, there were about 30,000 apartments came Condotel
market, from an early stage in 2019 to 3,000 this time more market can.Viec agree such a new model is proven Condotel suite
where, if possible, the complete management can achieve higher revenue.
Also the world so that the competent authorities (Ministry of Construction, Ministry of Natural Resources
and Environment ...) should soon the state a separate decree for model
Condotel for timely adjustments, put the business operation Condotel in masonry
folds, preserved in time the legitimate rights and interests of investors as well as
May 4/2019, the Prime Minister issued Directive No. 11 / CT-TTg on one of the prize
to promote the real estate market stable prosperous and healthy.
At this writing, the Prime Minister asked the Ministry of Construction issued amended and supplemented updates
regulations, construction requirements for range type apartment condominiums, public
The peak apartments (condotel), tourist villas (villa resort), cultural places
combine staying short time (officetel); hostels, rooms for rent; release
regulations on the management, operation type works combining stays
Short term (officetel) ... and finishing in quarter 3/2019.
However, to date this characteristic, forming a porch running legal
Condotel still limited number of strategic workshops, surveys, ... 1
Use the unnecessary agencies specialized master.
The time has come can not be delayed not stop there issuing a legal framework for
Condotel and the type of "hybrid" likened officetel other ... and utility rights of
Legal many investors have been legally recognized and guaranteed or not,
answers belong to the State management agencies specialized.
Thank Lawyers discussions about this!
Nguyen Khanh, (Recorder),