Ecolex Logo
The gateway to
environmental law
Search results » Legislation

Law No. 979 “On mortgage”.

Country/Territory
Tajikistan
Document type
Legislation
Date
1994
Source
FAO, FAOLEX
Subject
Land & soil
Keyword
Land reform Land tenure Expropriation Transfer Contract/agreement Liability/compensation
Geographical area
Asia, Central Asia, CIS (Commonwealth of Independent States), Europe and Central Asia, Landlocked Developing Nations, North Asia
Entry into force notes
The Law enters into force on the date of its official publication.
Abstract

This Law defines the main provisions on mortgage. Property connected with land and classified by the legislation as immovable property can be object of mortgage in accordance with mortgage agreement. When edifices, buildings and structures are mortgaged, the right of usage of land plot, on which above‑said object are located, becomes the subject of mortgage simultaneously. In such cases the right of usage of land plot is transferred simultaneously to an acquirer (buyer) of edifice, building or structure when compensation from the subject of mortgage is claimed. Mortgaging rights for land plot as well as of right for other natural resources is permitted within and on conditions specified by the legislation. If the state body of mortgager and management decides to cease the right of property over mortgaged property or to cease the mortgaged rights which are not related to the direct confiscation of the mortgaged property or mortgaged rights including decision to confiscate the land plot where mortgaged house, other structures, edifices or plantations are located, the losses caused by this decision to the mortgagee should be compensated to the mortgagee in the full volume by this state body at the expense of means which are at his disposal. Disputes about compensation of losses are settled by court or arbitrary court.

Full text
Russian/English
Website
www.tajik-gateway.org

References - Legislation

Repealed by

Law No. 364 “On mortgage”.

Legislation | Tajikistan | 2008

Keyword: Land reform, Land tenure, Transfer, Lease, Contract/agreement

Source: FAO, FAOLEX