Can Tho land dispute involves 400 million VND mortgage discrepancy

A legal dispute in Can Tho has revealed a significant discrepancy between a reported loan amount and the actual mortgage value secured by land titles. A couple, Huynh Van V and Le Thi Thu V1, reported that in 2011, they intended to borrow 60 million VND for production purposes. They sought assistance from a local official, Ngo Van P, who requested their original land use certificates to facilitate the process.

According to court documents from the Can Tho People's Court, the couple signed pre-prepared documents without fully understanding the contents. While they believed they were securing a 60 million VND loan, the land certificates for a 5,860 square meter plot were actually used to guarantee a 400 million VND credit contract signed by Mr. P.

Over the course of ten years, the debt, including principal and interest, has escalated to nearly 1.7 billion VND. The couple only discovered the true extent of the mortgage in 2016 when Mr. P was prosecuted in a separate criminal case. The bank maintains that the mortgage contract was voluntarily signed, notarized, and legally registered.