Abstract

This article analyzes the legal nature of “vacation ownership” from both doctrinal and practical perspectives under the Vietnamese Civil Code 2015 and Case Law No. 42/2021/AL. The findings indicate that the right arising from such transactions does not constitute a direct right over immovable property but exists primarily within contractual obligations between parties. Accordingly, it is essentially a relative property right (obligational right) dependent on the performance of the developer. The article proposes short-term unification under contract law and long-term consideration of a specialized legal regime.

Keywords: Contractual obligations, property rights, real rights and personal rights, sở hữu kỳ nghỉ.