Property Mortgaged or Pledged with Banks Proclamation (No. 97/1998). Country/Territory Ethiopia Document type Legislation Date 1998 Source FAO, FAOLEX Subject Land & soil Keyword Ownership Land based credit Legal proceedings/administrative proceedings Transfer Contract/agreement Geographical area Africa, Eastern Africa, Landlocked Developing Nations, Least Developed Countries Abstract This Proclamation amends the Civil Code concerning the sale of property mortgaged or pledged with banks in order to create a conducive environment to economic development by enabling banks to collect their debts from debtors efficiently and thereby promoting a good business culture. It declares contracts authorizing a creditor bank with which a property has been mortgaged or pledged and whose claim is not paid within the time stipulated in the contract, to sell the property by auction upon givin Full text English Website www.ethiopar.net References - Legislation Amended by Property Mortgaged or Pledged with Banks (Amendment) Proclamation (No. 216/2000). Legislation | Ethiopia | 2000 Keyword: Ownership, Land based credit, Legal proceedings/administrative proceedings, Transfer Source: FAO, FAOLEX