Buying house with Pink Book or Red Book- What is better choice?

Depending on the stage, in Vietnam there are different types of Certificates such as:

+ Certificate of land use right;

+ Certificate of house ownership and residential land use right;

+ Certificate of house ownership.

From December 10, 2009, the Ministry of Natural Resources and Environment issued a new form of Certificate of general application nationwide with the name "Certificate of land use rights, ownership of houses and other assets attached to land (The certificate has a pink cover).

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Currently, the Land Law 2013 and documents guiding the inheritance of the name Certificate of land use rights, ownership of houses and other land-attached assets are prescribed as a type of certificate issued to owners of land use rights, house ownership, and ownership of other land-attached assets according to a form throughout the country.

Compare Red Book and Pink Book specifically as follows:

- About legal value:

Red book and pink book are legal documents for the State to certify land use rights, ownership of houses and other land-attached assets.

Although the books have red and pink covers, they are all legally valid, regardless of the types of books. In other words, not the Red Book has a higher legal value than the Pink Book and vice versa.

- About actual value:

The actual value of the Red Book and the Pink Book depends on the value of the land plot, house and other land-attached assets such as: Location of the land plot (front or in nook and cranny...), small or large area, new or old houses and the number of other assets attached to the land.

Currently, the Land Law does not mandate the change of the Certificate with red cover and the old Pink Book to the new Pink Book (the form of the new Certificate being issued is lotus-pink - also known as the New Pink Book). Therefore, buying a house with a Red Book or a Pink Book has the same legal value.

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