Amended Real Estate Business Law blocks "ambiguous cheating" tricks

Real estate advertising reform

The revised Law on Real Estate Business has just been approved by National Assembly deputies, consisting of 10 chapters and 83 articles, and will take effect on January 1, 2025, an increase of 4 chapters and 1 article compared to the current law.

The revised Law on Real Estate Business has overcome many practical difficulties after more than 8 years of implementing the Law on Real Estate Business in 2014. One of the contents amended and supplemented this time is the regulation on public disclosure of information on real estate put into business. This is a "backbone" regulation to ensure the healthy and transparent development of the real estate market.

While the 2014 Law on Real Estate Business only provides general regulations on public disclosure of real estate information for business, the amended law clearly stipulates and specifically requires information on real estate for business such as information on real estate projects; information on housing, construction works formed in the future, available; information on land use rights with technical infrastructure in real estate projects, etc.

In particular, the revised law also stipulates that “real estate businesses must fully, honestly and accurately disclose information” and “publicly disclosed information must be updated when there is a change”. This will prevent the “ambiguous cheating” trick in real estate advertising that has caused many people and real estate investors to suffer, causing public outrage as in the past.

In addition, the revised Law on Real Estate Business also adds detailed regulations on trading land use rights with technical infrastructure in real estate projects, transferring real estate projects, real estate business contracts, building and managing information systems, databases on housing and real estate markets, regulating the real estate market, etc. This will be a tight legal corridor to resolve conflicts and soon remove "overlapping bottlenecks" in the current real estate market in Hai Duong province and the whole country.

Identity card no longer has hometown, fingerprints

With 431/468 delegates voting in favor, the Law on Identification was officially passed on the morning of November 27, and will take effect from July 1, 2024. The Law on Identification has institutionalized the Party's guidelines and policies on promoting the application of information technology, contributing to the building of an e-Government, handling administrative procedures and providing online services.

National Assembly deputies have agreed to remove the information about hometown and fingerprints on the ID card, which will only be stored in the database. According to Article 18, the information fields shown on the ID card include: facial photo; personal identification number; last name, middle name and given name; date of birth; gender; place of birth registration; nationality; place of residence; card issue date and expiry date.

The drafting agency said that removing fingerprints from the card surface is to ensure security when people use the card. Information about hometown is also removed and replaced with information about the place of birth registration because this is accurate information with high stability.

In fact, many people are born in one province or city but their parents and grandparents are from another locality. This information printed on the ID card makes it difficult to collect citizens' information and is not as accurate as the place of birth registration. In addition, the ID Law also adds regulations on issuing ID cards to people under 14 years old if needed. According to the ID Law, the citizen ID card will also have a new name, the ID card. However, citizens are not required to change the citizen ID card to the ID card..These are also the 3 contents that National Assembly delegates of Hai Duong province commented and proposed at the session.

With these new regulations, voters expect that when the Law on Identification comes into effect, it will serve to connect, exploit, and enrich national population data, create a legal basis for implementation, and create a breakthrough in comprehensive digital transformation in all fields.

At the 6th session of the 15th National Assembly, the National Assembly considered 9 draft laws. Of which, 2 draft laws were not passed at this session, namely the Land Law (amended) and the Law on Credit Institutions (amended). 7 draft laws were passed, including: the Law on Identification, the Law on Housing (amended), the Law on Telecommunications (amended), the Law on Management and Protection of National Defense Works and Military Zones, the Law on Real Estate Business (amended), the Law on Water Resources (amended), and the Law on Forces Participating in Protecting Security and Order at the Grassroots Level.