How to determine if ownership has passed from the seller to the buyer ?

DMS Law office in Danang, Vietnam advise about if the buyer has paid 100% for goods but the goods has not yet delivered to the buyer,  income earned from the goods belongs to the seller or the buyer ? 

Time to establish ownership rights and other assets-related rights:

The time of establishing ownership rights and other assets-related rights shall be determined as prescribed in this Code and relevant laws; if there is no relevant regulations of law, the agreement of the parties shall prevail; if there is no either relevant regulations of law or agreement of the parties, the time of establishing ownership rights and other property-related rights shall be the time when the property is transferred.

The time when the property is transferred is the time when the right-holder or his/her legal representative possesses the property.

In case where the property which has not been transferred arise yield or income, such yield or income shall belong to the transferor, unless otherwise agreed (Article 161 The Civil Code No. 91/2015/QH13 dated November 24, 2015).

Related topics:

Compensation for damage caused by breach of contract

A legal entity in Vietnam

Fines for breach of contract

Contact us:

Phone: 0914 165 703 

Email: dmslawfirm@gmail.com

DMS LAW LLC
Director
(Signed)
Lawyer Do Minh Son