Possession in good faith means the possession
that the possessor has bases to believe that he/she has the right to the
property in Vietnam under his/her possession. Bona fide possessor is protected
by the law on property rights. Owning this type of property might be subject to
many potential disputes which parties should consult with dispute
lawyers in Vietnam from time to time to understand his/her rights to the
property.
Bona
fide Possession of Property in Vietnam
According to Clause 3 Article 184 of the 2015 Civil Code, a person
possessing in good faith, continuously and overtly shall be eligible for
prescriptive periods for enjoying the rights and enjoy the yield and income
derived from the property as prescribed in this Code and relevant laws.
A person possessing in good faith is entitled to protect his/her
rights and his right to possession when meeting specific conditions. Before a
third person entered into a civil transaction, a prior civil transaction was
established, the previous civil transactions were invalidated. Besides, the
third person establishing civil transactions must be honest. Property traded in
accordance with law and civil transactions must be compensated.
The owner has the right to reclaim the property from the rightful
owner in accordance with Article 167 and Article 168 of the Civil Code 2015.
Accordingly, depending on the type of property subject to ownership
registration or not, the reclaim of ownership of the owner has a certain
difference. Specifically, owners may reclaim movable property not subject to
ownership right registration from bona fide possessors in cases where such bona
fide possessors have acquired such property through unindemnifiable contracts
with persons who have no right to dispose of the property; in case of
indemnifiable contracts, the owners may reclaim the movable property if such
movable property has been stolen, lost or other cases of possession against the
owners’ will.
Owners may reclaim their movable property subject to ownership
right registration and immovable property, except for cases where a civil
transaction is invalid but the transacted property is registered at a competent
authority and such property has already been transferred to a bona fide third
party through another transaction which is established according to that
registration, such transaction shall remain valid.
In cases where the transacted property which is required to be
registered has not registered at a competent authority, the transaction with
the third party shall be invalid, except for cases the bona fide third party
received such property through an auction or a transaction with an another
party being the owner of such property pursuant to a judgment or decision of a
competent authority but thereafter such person is not the owner of the property
as a result of the judgment or decision being amended or annulled.
ANT Lawyers is a law
firm in Vietnam located in the
business centers of Hanoi, Danang and Ho Chi Minh City. We provide
convenient access to our clients. Please contact us to book your time
in advanced to let us provide our best service. Call us at +84 28 730 86 529 or send us
email ant@antlawyers.vn.
