Land law on real estate auction: Practical application and recommendations

Abstract

Regulations on real estate auctions in our country have existed for a long time through many amendments to the Land Law, from the 2003 Land Law, the 2013 Land Law, and now the draft of the new Land Law. Legal regulations on real estate auctions have created a solid legal foundation for this activity to take place for years, significantly contributing to socio-economic development. However, the implementation of regulations on real estate auction still faces some obstacles, causing damage to the interests of the state and related entities. In particular, in recent times, there are many disputes arising from real estate auction activities because the provisions of the land law, namely the 2013 Land Law, have not foreseen all situations occurring during the real estate auction process, such as issues related to the financial factor of the investor or the conditions for banning and restricting auction participants, or the issue of deposit and deposit penalty still have some points that are not suitable when applied in practice, etc. By using the synthesis and analysis methods, the article aims to understand the current legal framework on real estate auctions and evaluate the actual application of these regulations in practice, thereby giving a discussion on the overall solution to improve regulations on real estate auctions, contributing to the process of commenting on the draft new Land Law and relevant legal regulations.