No Comments

Unilateral Termination Of The Contract

Unilateral termination of the contract

Question: I have rented a house its contract is notarized in a 3-year lease. I have been hiring for 2 years now and want to terminate the lease.

There is no clause on unilaterally terminating the contract, but only in general terms “in accordance with the provisions of the Civil Code and the Housing Law.” Please ask, am I entitled to unilaterally terminate the lease? What if I must do to avoid contract penalty?

>>>See more information about the real estate market, here: Vietnam real estate market

Answer: – Article 428 of the Civil Code 2015 stipulates: “A party may unilaterally terminate the performance of a contract and have not to compensate for damage when the other party has seriously violated obligations in the contract or parties have an agreement or law stipulates. A party who unilaterally terminates the performance of a contract must immediately notify the other party of the termination of the contract. If not notified, the damage shall be compensated. “

Unilateral Termination Of The Contract
Unilateral Termination Of The Contract

Paragraph 3, Article 498 of the Civil Code states: “Unilateral party to terminate the performance of the lease contract must notify the other party 1 month before unless otherwise agreed.” Section 4, Article 132 of the Housing Act of 2014 also states: “Unilateral termination of performance of a house lease must be notified to the other party at least 30 days in advance unless otherwise agreed by the parties.”

Thus, according to the law, she has the right to unilaterally terminate the lease agreement provided that the advanced notice to Party A (lessor) at least 30 days advance.

You are reading the article Unilateral Termination Of The Contract in the Real Estate category at https://realestatevietnam.com.vn/.
Any information sharing, feedback please email to info@realestatevietnam.com.vn, Hotline 0909890897 (24/7).
Special thanks!

Unilateral Termination Of The Contract
Review

Comments (0)