The Committee on Judicial Policy recommends that the Parliament adopts the Bill "On Amendments to certain Laws of Ukraine" (re Foreclosure on the Mortgaged Property on the Grounds of the Enforcement Inscription by a Notary)

07 May 2010, 12:15

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The bill (Reg. No.5039) suggests cancellation of the appeal possibility regarding foreclosure on the mortgaged property on the grounds of the enforcement inscription by a notary and also specification that the enforcement of a charge is possible only through the appeal on mortgaged property. Relevant amendments are supposed to be introduced to the Laws "On Mortgage", "On Pledge" and "On Notary." 

According to the People´s Deputies, in the course of the cancellation of the appeal possibility regarding foreclosure on the mortgaged property on the grounds of the enforcement inscription by a notary, the following controversory would be solved in courts exclusively that enables taking into the consideration the cases of non-execution of the treaty obligations and objective solving of the situation. 

The Committee deems the amendments to the Laws "On Mortgage", "Pledge" and "On Notary" needs harmonization with each other as one part of them is blanket (amendments to the clause 4 of the Law "On Pledge") and another part doubles the norms of the effective laws (amendments to the clause 33 of the Law "On Mortgage").