Headlines 24/03/2021 15:14 CH

4 types of property to be put up as security for performance of civil obligations

Thục Uyên

Government issues the Decree No. 21/2021/ND-CP on implementation of the Civil Code regarding security for performance of obligations.

According to this Decree, property offered as security for performance of obligations includes:

 (1) Present or future property;

Unless purchase, sale, disposal or transfer of ownership thereof is otherwise prohibited by the Civil Code or other relevant laws at the time of effect of security agreements or measures.  

 (2) Property sold under property sale and purchase agreements in which ownership is retained;

 (3) Property serving as an obligatory object in a bilateral contract of which terms and conditions on lien on that property are breached;

 (4) Property under the people’s ownership that is covered by relevant laws.

Please see more details in the Decree No. 21/2021/ND-CP (in force as of May 15, 2021).

>> CLICK HERE TO READ THE ARTICLE IN VIETNAMESE

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