Lawmakers discuss property auction

ABO/NDO- The status quo and measures to improve the efficiency of property auctions and judicial assessment were put onthe table during the ongoing 25th plenary session of the National Assembly (NA) Standing Committee on August 15.

Deputy Bui Manh Khoa from Thanh Hoa province stated that the auction of assets, especially public ones, still has many shortcomings, as the access to auctions is difficult, and properties are not handed over in some cases although auctions are won, especially in the field of civil judgment enforcement.

Minister of Justice Le Thanh Long speaks at NA Standing Committee's 25th plenary session (Photo: VNA).

Minister of Justice Le Thanh Long acknowledged this situation, adding that from October 1, 2022 to July 31, 2023, in civil judgment enforcement, there were nearly 2,000 auctions, of which assets of more than 1,300 cases were handed over.

Analysing the causes of this situation, Long said that asset auction and civil judgment enforcement are only two areas of law where regulations on auctioned asset delivery are applied. However, there are also regulations related to land and public property management, so these two areas are not enough. Therefore, legal regulations in other fields must be taken into account.

As the current order and procedures for auctions do not have specific regulations for assets related to civil judgment enforcement, the ministry has also proposed to amend the Law on Property Auction and the Law on Enforcement of Civil Judgments.

Regarding the orientation to amend the Law on Property Auction, the minister said that there will be stricter regulations on processes, methods and regulations to reduce collusion, price dumping, profiteering, and especially the loss of State budget.

Attention will be paid to developing online auctions, Long added.

(Source: NDO)