Q:
A:
Law on mortgage to be improved to make its enforcement easier
Belgrade,
2 June 2006
Serbian Minister of International Economic Relations Milan Parivodic stated today that the ministry and the Foreign Investors' Council agreed to work and further improve the Law on mortgage so as to facilitate its implementation.
At a meeting devoted to the Law on mortgage and its implementation in practice, Parivodic said that the basic aim of the law is to simplify, reduce the cost and accelerate the procedure of granting licences, as well as the construction process itself.
He recalled that practical experience showed that the contract on co-financing links the holder of construction rights and the investor who pays for the construction costs, adding that the new law will make it possible to transfer the construction licence and other rights, including the right to use city construction land.
Speaking about property rights, he said that the Law on mortgage, which came into force on February 25, advocates that every right, including the right to not yet constructed or registered immovables, can be pledged and used for other business purposes.
Certain dilemmas concerning the law were also discussed at the meeting and the participants included representatives of banks, foreign companies and the Serbian Geodetic Office.
He recalled that practical experience showed that the contract on co-financing links the holder of construction rights and the investor who pays for the construction costs, adding that the new law will make it possible to transfer the construction licence and other rights, including the right to use city construction land.
Speaking about property rights, he said that the Law on mortgage, which came into force on February 25, advocates that every right, including the right to not yet constructed or registered immovables, can be pledged and used for other business purposes.
Certain dilemmas concerning the law were also discussed at the meeting and the participants included representatives of banks, foreign companies and the Serbian Geodetic Office.
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