What are the conditions and procedures for transferring apartment ownership? Read on to find detailed answers from OneHousing.

Transferring apartment ownership is a topic of interest, especially for first-time homebuyers. To provide detailed guidance, this article from Zoomland explains the conditions and procedures involved.

Conditions for Transferring Apartment Ownership

For Apartments Without a Sales Contract

When an apartment project is still under construction (e.g., foundations incomplete), no official sales contract exists. Transferring ownership depends entirely on the developer’s approval. Typically, buyers need to pay only 10–20% of the apartment’s value for such transactions.

For Apartments With a Sales Contract But Without Ownership Certificate

Ownership transfer requires the developer’s consent, along with proof of paid VAT invoices for the apartment. Sellers must complete all outstanding payments, while buyers must comply with the developer’s requirements.

For Apartments With an Ownership Certificate

Ownership transfer occurs directly between the buyer and seller without involving the developer. The parties negotiate terms and notarize the sales contract at an authorized agency.

Procedures for Transferring Apartment Ownership

1. Apartments Without a Sales Contract

Step 1: Deposit and Agreement
The buyer and seller negotiate the price and deposit.

Step 2: Submit Transfer Request
The seller submits a transfer request form to the developer.

Step 3: Developer Executes Name Change
The developer processes the name change within 7–15 business days, witnesses the transaction, and issues new payment receipts and documents to the buyer.

Step 4: Complete Formalities
The buyer finalizes the formalities with the developer and receives updated payment receipts and documents in their name.

2. Apartments With a Sales Contract But Without Ownership Certificate

Step 1: Draft and Notarize Transfer Agreement
The agreement should include the price, payment method, and handover timeline. Required documents include:

  • Original sales contract
  • Personal identification documents (ID cards, household registration)
  • Original transfer agreement
  • Tax invoices and proof of no ownership certificate

Step 2: Pay Personal Income Tax
Documents required:

  • Original transfer agreement
  • Seller’s ID card
  • Personal income tax declaration form

Submit these documents to the local tax authority. Tax is 2% of the apartment’s transfer value.

Step 3: Developer’s Approval of Transfer Agreement
Provide:

  • Seller’s ID copy
  • Original sales contract
  • Five signed transfer agreements

The developer validates the transfer and issues the following:

  • Updated sales contract
  • Tax receipts
  • Transfer agreements signed by the developer

Step 4: Obtain Ownership Certificate
The new owner completes the procedures and obtains the ownership certificate as agreed with the seller.

3. Apartments With an Ownership Certificate

Step 1: Verify Apartment Details
Ensure the apartment complies with the 2014 Housing Law, including:

  • Valid ownership certificate
  • Proper tax declaration
  • No disputes or liens

Buyers should also confirm legal details with local authorities.

Step 2: Initial Agreement
Both parties agree on deposit terms, transfer timelines, and payment schedules. Deposits should be documented and notarized.

Step 3: Sign and Notarize Sales Contract
Within 10 days of contract notarization, the buyer and seller must file tax declarations with the local tax office. Required documents:

  • Tax declaration forms
  • Apartment floor plan
  • Ownership certificate
  • Household registration and notarized ID copies
  • Marital status certificates

Step 4: Pay Taxes and Transfer Ownership
After fulfilling all tax obligations, submit:

  • Notarized sales contract
  • Ownership certificate
  • Tax declarations
  • Buyer’s identification documents

Submit these documents to the Department of Natural Resources and Environment for ownership transfer. The new ownership certificate is issued within approximately three weeks.

Conclusion

The procedures for transferring apartment ownership vary depending on the type of apartment and its documentation. Buyers and sellers should ensure compliance with legal and tax obligations to facilitate a smooth transfer process.