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.
Minister of Justice Le Thanh Long speaks at NA Standing Committee's 25th plenary session (Photo: VNA)
Hanoi (VNA) – The status quo and measures to improve the efficiencyof property auctions and judicial assessment were put on the table during theongoing 25th plenary session of the National Assembly (NA) StandingCommittee on August 15.
Deputy Bui Manh Khoa from Thanh Hoa province stated that theauction of assets, especially public ones, still has many shortcomings, as the accessto 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 acknowledged thissituation, adding that from October 1, 2022 to July 31, 2023, in civil judgmentenforcement, there were nearly 2,000 auctions, of which assets of more than1,300 cases were handed over.
Analysing the causes of this situation, Long said that assetauction and civil judgment enforcement are only two areas of law whereregulations on auctioned asset delivery are applied. However, there are alsoregulations related to land and public property management, so these two areasare not enough. Therefore, legal regulations in other fields must be taken intoaccount.
As the current order and procedures for auctions do not havespecific regulations for assets related to civil judgment enforcement, the ministryhas also proposed to amend the Law on Property Auction and the Law onEnforcement of Civil Judgments.
Regarding the orientation to amend the Law on Property Auction, the ministersaid that there will be stricter regulations on processes, methods andregulations to reduce collusion, price dumping, profiteering, and especially theloss of State budget.
Attention will be paid to developing online auctions, Long added./.
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Minister of Justice Le Thanh Long speaks at NA Standing Committee's 25th plenary session (Photo: VNA) 
