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Parivodic explains mortgage bill
Belgrade,
14 December 2005
Serbian Minister of International Economic Relations Milan Parivodic said today that once the issue of mortgages has been put in order with a high degree of legal safety, thus addressing an issue of great importance for a large number of citizens and helping to solve the country's economy.
Milan Parivodic
Speaking about the Bill on mortgage at the Serbian parliament, Parivodic explained that the Bill establishes the right to pledge immovables as a guarantee in case the debtor fails to pay the mortgage debt to the creditor.
A contract on mortgage and the records kept by a public registry, which is the central inventory of mortgages for the territory of Serbia, will offer sufficient enough guarantees for issuing bigger loans, and the government is in this way trying to solve current problems that are preventing clients from receiving bigger loans, he pointed out.
Parivodic said that certain changes introduced by the Bill will enable the issuing of loans not only for the entire immovable property, but also for immovables under construction, unregistered objects and land.
The creditor is guaranteed that the debt will be repaid in an efficient and safe way, while at the same time the debtor and owner of immovable property is also protected without too much red tape.
He stressed that the procedure of selling pledged immovables will be cut from the current three to five years of court proceedings down to three to six months.
A contract on mortgage and the records kept by a public registry, which is the central inventory of mortgages for the territory of Serbia, will offer sufficient enough guarantees for issuing bigger loans, and the government is in this way trying to solve current problems that are preventing clients from receiving bigger loans, he pointed out.
Parivodic said that certain changes introduced by the Bill will enable the issuing of loans not only for the entire immovable property, but also for immovables under construction, unregistered objects and land.
The creditor is guaranteed that the debt will be repaid in an efficient and safe way, while at the same time the debtor and owner of immovable property is also protected without too much red tape.
He stressed that the procedure of selling pledged immovables will be cut from the current three to five years of court proceedings down to three to six months.
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