PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of April 16, 2020 No. 130

About mortgage housing lending

For the purpose of enhancement of the state housing policies, development of mortgage housing lending and creation of additional terms on providing the rights of citizens borrowers:

1. Determine that:

1.1. in case of the conclusion of the credit agreement * on financing of acquisition by citizens of apartments in the apartment or blocked apartment houses, single-family apartment houses, share in the property right to them (further - housing) with ensuring obligation fulfillment of the borrower with pledge (mortgage) of this housing:

pledge (mortgage) of housing is made by the rules determined by the legislation in the part which is not contradicting this Decree;

the bank has the right to require different ways of ensuring obligation fulfillment of the borrower. At the same time in case of improper execution by the borrower of obligations according to the credit agreement the address of collection first of all is performed on housing which is subject of pledge (mortgage) taking into account the requirements provided in part one of subitem 1.5 of this Item. In case of impossibility of satisfaction of the requirements at the expense of such housing the bank has the right to require obligation fulfillment due to other providing (in case of its availability);

the right of pledge (mortgage) of housing arises at bank from the moment of the conclusion of the corresponding credit agreement and stops in cases of the termination of the credit obligation provided with this pledge (mortgage), death of the pledged housing or the address of collection on it the pawnbroker, realization of pledged property according to the procedure, the established legislation on enforcement proceeding and also in case realization of such property was impossible;

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* Except for the loans granted according to presidential decrees of the Republic of Belarus.

1.2. housing which at the time of the conclusion of the corresponding credit agreement is registered in the single state register of real estate, the rights to it and transactions with it can act as subject of pledge (mortgage).

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