What happens after 50 years ownership?

Question:

What happens after50years ownership?

Answers: 

Article 77 of the Decree 99/2015/ND-CP provides that 3 months before the expiration of the term, the owner wishing to extend the term shall submit a request of extension with an authorized copy of the Certificate of his/her ownership to the People Committee of Province where the house is located, for consideration.

Within 30 days from the date of receipt of the request from the owner, Provincial People Committee shall consider and issue a written consent document granting the extension with a term no longer than 50 years from the date of expiration of the first term provided for in the Certificate of House Ownership, unless otherwise provided for in Article 77.3 of the Decree No.99/2015/ND-CP.

Base on the written consent document issued by the Provincial People Committee, the competent authority responsible for the issuance of Certificate of House Ownership shall issue an extension to the Certificate of House Ownership, with a copy to Department of Construction to supervise.

In case of the foreign organization, 3 months before the expiration of the term, the organization wishing to extend the term shall submit a request which clearly states the term that the organization wishes to extend, together with an authorized copy of the Certificate of House Ownership and Renewable Certificate of Investment granted by competent authority of Viet Nam, to the People Committee of Province where the house is located, for consideration.

Within 30 days from the date of receipt of the request from the organization, Provincial People Committee shall consider and issue a written consent document for the extension with a term no longer than the term provided for in the Renewable Certificate of Investment granted by competent authority of Viet Nam.

Base on the written consent document issued by the Provincial People Committee, the competent authority responsible for the issuance of Certificate of House Ownership shall issue an extension to the Certificate of House Ownership, with a copy to Department of Construction to supervise. 

Source: AsiaReal