Governmental Instruction No.96-rz of 1993 regarding application of the Basic Regulations on mortgage of immovable property.

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Russian

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LEX-FAOC038807

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1

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Deputy Premier orders to forward the Basic Regulations for registration and application by the ministries and institutions entitled to elaborate normative acts regarding mortgage. Mortgage can be applied to the plots of land, including agricultural land. Till enactment of legislative acts the Committee on Land Resources and Land Survey and its territorial branches must carry out regarding the modalities of state registration of immovable property registration of the plots of agricultural land. Mortgage of the plots of agricultural land is permitted exclusively for execution of credit agreements related to agricultural development. Valuation of the plot of land specified in the mortgage must not be lower than normative price of land.

Implements: Presidential Decree No. 1767 of 1993 regarding the regulation of land relationship and the promotion of land reform in Russia. (1993-10-27)

Regulations