Federal Law No. 1-FZ amending the Federal Law No. 102-FZ on mortgage. | Land Portal

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The following amendments must be introduced into the Federal Law No. 102-FZ on mortgage: 1) Paragraph 3 of the sub-issue1 of the issue 4 of the Article 13 must be repealed. 2) Paragraph 2 of the Article 55 must be supplemented with sub-issue 2.1 of the following wording: “the object of mortgage can be a plot of agricultural land.” 3) Paragraph 1 of the Article 63 acquires a new wording: “In accordance with the present Federal Law mortgage of the plots of land pertaining to state or municipal property is prohibited.” 4) Article 68 must be supplemented with issue 3 of the following wording: “Exaction of the mortgaged plot of agricultural land is prohibited until the fulfilment of agricultural activity taking into account the period of time necessary for sale of produced or produced and processed agricultural commodities. This provision is valid till the 1st of November of the current year if otherwise is not envisaged by mortgage contract.”

Amends: Federal Law No. FZ-102 on mortgage. (1998-07-16)

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Gnetii, Vsevolod

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