Vietnam Debates Removing Notarization for Property Deals Amid Fraud Concerns

A significant debate is unfolding in Vietnam over a proposed amendment to the draft Land Law that could eliminate the requirement for notarization in property transactions. This potential change, outlined in Article 27 of the draft, aims to streamline administrative procedures, reduce costs, and save time for citizens.

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Notarization is not simply an administrative procedure to confirm a signature. In every real estate transaction, notarization provides practical protection for people's property rights. From there, notarization helps people avoid risks.

However, the proposal has drawn considerable concern from readers and legal professionals. Many argue that notarization serves as a vital safeguard, protecting property owners' rights and preventing fraudulent activities. They emphasize that with the ongoing digitization of land data still incomplete, removing this layer of security could expose individuals to greater risks.

Experts like Nguyễn Hồ Phương Vinh, head of Notary Public Office No. 1 in Ho Chi Minh City, stress that notarization is more than just a procedural step; it's a public service ensuring the authenticity and legality of transactions. Notaries play a role in verifying the legal status of properties and identifying potential scams, thereby mitigating risks for buyers and sellers.

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We need to keep notary offices; they are a safe basis for buyers.

Reader feedback echoes these concerns. Many commenters advocate for retaining notarization, citing the expertise of notary offices in verifying documents and detecting forgeries. They worry that eliminating this process could lead to an increase in lengthy and costly legal disputes arising from fraud or contested ownership. Some suggest that if administrative burdens are the issue, other government bodies, like commune-level People's Committees, could handle verification, potentially reducing costs for citizens compared to current notary fees.

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In my opinion, the notarization procedure should not be abolished when buying and selling high-value assets, because notary offices are knowledgeable about hồ sơ and checking genuine and fake documents.

The core tension lies between the government's goal of simplifying procedures and the public's desire for security and transparency in high-value property dealings. While some propose alternative verification methods, the prevailing sentiment among many stakeholders is that mandatory notarization remains essential for ensuring fairness and preventing illicit activities in the real estate market.

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If property is bought and sold without notarization, it clearly creates opportunities for fraud; we propose that it must be kept.