Notaries take over in HCM City
04:28 15/05/2010
HCM CITY — From June 1, transactions involving movable assets will no longer be certified by district and ward-level People's Committees in HCM City but by notary offices, the city People's Committee has announced.
It applies to transactions worth up to VND50 million (US$2,600).
Besides, ward-level People's Committees will no longer have the authority to certify contracts and transactions relating to properties other than wills.
But the change will not apply to People's Committees in the city's rural areas because of a paucity of public and private notary offices.
The city People's Committee has also approved a proposal by the Department of Justice to license 11 more private notary offices in five rural districts – three each in Cu Chi and Binh Chanh, two each in Can Gio and Hoc Mon, and one in Nha Be – to meet an increasing need.
The city now has seven public notary offices and 12 private ones. — VNS