Law No. 49 “On mortgage”. | Land Portal

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This Law establishes the basic provisions on mortgage, including mortgage of land, subsoil, forest, waterbodies and perennial plants, registration of mortgage and registration of rights to mortgaged property. The Act consists of 5 Sections divided into 86 articles: (1) general provisions; (2) types of mortgage; (3) levy of execution to mortgaged property; (4) protection against entrenchment on a right to mortgaged property; and (5) conclusive provisions. Pledgeholders of agricultural land in accordance with mortgage contracts shall be banks and financial and credit institutions licensed by the National bank. Pledgers of agricultural land shall be citizens of Kyrgyzstan that have ownership right to agricultural land.

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A Central Asian country of incredible natural beauty and proud nomadic traditions, most of the territory of present-day Kyrgyzstan was formally annexed to the Russian Empire in 1876. The Kyrgyz staged a major revolt against the Tsarist Empire in 1916 in which almost one-sixth of the Kyrgyz population was killed. Kyrgyzstan became a Soviet republic in 1936 and achieved independence in 1991 when the USSR dissolved. Nationwide demonstrations in the spring of 2005 resulted in the ouster of President Askar AKAEV, who had run the country since 1990.

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