Adjusting Jurisdiction in Land Use Rights Mortgage

The Government issued the Decree 05/2012/ND-CP to adjust the jurisdiction of registering the mortgage of land use rights and assets attached on land.

 

Accordingly, from April 2012, the Commune-level People’s Committee will no longer have the authority to settle land-use right mortgages and this jurisdiction will be transferred to the district-level authorities. The procedures to this effect shall be settled within the day of receiving lawful documents. If the documents are submitted after 3.00 pm, the procedures may be settled in the following day.

 

The decree also governs the time for transformation of a law company from the form of one-member limited liability to a two- or more-member limited liability and the reverse transformation. The time for completing the process is shortened to five days instead of seven like now.