LAW OF THE REPUBLIC OF ARMENIA

of December 30, 2016 No. ZR-226

About entering of amendments into the Law of the Republic of Armenia "About forced execution of court resolutions"

Accepted by National Assembly of the Republic of Armenia on December 16, 2016

Article 1. ZR-221 "About forced execution of court resolutions" to add article 51 of the Law of the Republic of Armenia of May 5, 1998 with Items 6 and 7 of the following content:

"6) that single housing (including the home parcel of land constituting single property unit with housing and the subsidiary constructions which are available on this parcel of land) or its parts which is the single permanent residence for the debtor and which starting price is equal or below the minimum amount provided for the realization of the single housing established by the Government of the Republic of Armenia. If the single housing is implemented at the price exceeding the sum determined by the decision of the Government of the Republic of Armenia, then the amount provided for realization of the single housing, established by the Government of the Republic of Armenia returns to the debtor. The provisions established by this Item do not extend to those cases when the property is pledged for providing the requirement of the claimant and also when alimentary requirements, requirements about compensation of the damage caused to life or health or caused by crime are met;

7) the amount provided for realization of the single housing, established by the Government of the Republic of Armenia which is returned to the debtor.".

Article 2. The introduction of the Law in force

1. This Law becomes effective in two months from the date of its official publication.

2. Provisions of this Law extend to enforcement proceedings the entries into force of this Law initiated later.

3. The government of the Republic of Armenia determines the minimum amount provided for realization of the single housing within four months after entry into force of this Law.

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