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Law "On Pledge"

RUSSIAN FEDERATION

(as amended by the Federal Laws of July 26, 2006 N 129-FZ,
dated 19.07.2007 N 197-FZ, dated 30.12.2008 N 306-FZ,
dated 06.12.2011 N 405-FZ,
as amended by Federal Laws of July 16, 1998 N 102-FZ,
dated 02.10.2012 N 166-FZ)

Section I. GENERAL PROVISIONS

Article 1. Concept of pledge

Pledge - a method of securing an obligation, in which the creditor-pledge holder acquires the right, in the event of the debtor's failure to fulfill the obligation, to receive satisfaction at the expense of the pledged property preferentially over other creditors, with exceptions provided for by law.

Article 2. Legislation of the Russian Federation on pledge

This Law determines the main provisions on pledge.
Pledge relations not regulated by this Law shall be regulated by other acts of the legislation of the Russian Federation.
If an international treaty of the Russian Federation establishes other rules on pledge than those contained in acts of legislation of the Russian Federation, then the rules of the international treaty shall apply.

Article 3. Grounds for the emergence of a pledge

1. A pledge arises by virtue of an agreement or law.
2. The law providing for the emergence of a pledge must contain an indication of what obligation and what kind of property should be recognized as being in pledge.

Article 4. Scope of application of pledge

1. A valid claim may be secured by a pledge, in particular, arising from a loan agreement, including a bank loan, purchase and sale agreements, property lease, cargo transportation and other agreements.
2. The subject of pledge may be things, securities, other property and property rights.
Claims of a personal nature, as well as other claims, the pledge of which is prohibited by law, cannot be the subject of a pledge.
3. A pledge may be established in relation to claims that will arise in the future, provided that the parties agree on the amount of security for such claims.
4. Pledge is derived from the obligation secured by it. The existence of the rights of the pledgee depends on the fate of the obligation secured by the pledge.

Article 5. Types of pledge

A law or an agreement may provide that the pledged property remains with the pledgor or is transferred into the possession of the pledgee (mortgage).
Goods may be pledged by transferring to the pledge holder a document of title, which is a security. The pledged securities may be deposited with a notary's office or a bank.

Article 6. Property as a subject of pledge

1. The subject of a pledge may be any property that, in accordance with the legislation of the Russian Federation, may be alienated by the pledgor.
2. The pledge right to things covers their accessories and inseparable fruits, unless otherwise provided by law or contract. A lien on things may include separable fruits only in cases, within the limits and in the manner prescribed by law or the contract.
3. An agreement or law may provide for the extension of a pledge to things that may be acquired by the pledgor in the future.

Article 7. Pledge of property in common ownership

1. Property that is in common joint ownership may be pledged only with the consent of all owners.
2. The pledge by the owner of his share in common shared ownership does not require the consent of the other owners.
3. The owner of the apartment independently decides on the issue of pledging it.

Article 8. Replacement of the subject of pledge

Replacement of the subject of pledge is allowed only with the consent of the pledgee. The procedure for replacing the subject of pledge when pledging goods in circulation is regulated by Articles 46 and 47 of this Law.

Article 9. Pledge and insurance

1. The obligation to insure the pledged property transferred into his possession may be imposed on the pledgee by law or by agreement.
The paragraph became invalid on January 1, 2008. - Federal Law of July 19, 2007 N 197-FZ.

2. A law or an agreement may impose on the pledgor the obligation to insure in the event that state bodies commit actions and adopt acts that terminate his economic activity, or hinder it, or adversely affect it (confiscation, requisition of property), as well as liquidation or recognition as an insolvent debtor .
3. Upon the occurrence of insured events, the pledgee has the right to preferential satisfaction of his claims from the amount of the insurance indemnity.

Article 10. Content and form of a pledge agreement

1. The pledge agreement must contain conditions that provide for the type of pledge, the essence of the claim secured by the pledge, its amount, the terms for fulfilling the obligation, the composition and value of the pledged property, as well as any other conditions regarding which, at the request of one of the parties, an agreement must be reached.
2. The pledge agreement must be made in writing.
3. An agreement on a pledge that secures obligations arising from the main agreement, subject to notarization or notarized by agreement of the parties, must also be certified by the body that certified the main agreement.
4. A condition on a pledge may be included in an agreement under which an obligation secured by a pledge arises. Such an agreement must be concluded in the form established for a pledge agreement.
5. The form of the pledge agreement is determined by the legislation of the place of its conclusion. A pledge agreement concluded outside the Russian Federation cannot be declared invalid due to non-compliance with the form, if the requirements established by the legislation of the Russian Federation are met.
Form of an agreement on the pledge of buildings, structures, enterprises, land plots and other objects located on the territory of the Russian Federation, as well as railway rolling stock, civil air, sea and river vessels, space objects registered in the Russian Federation, regardless of the place of conclusion of such an agreement determined by the legislation of the Russian Federation.
(As amended by Federal Law No. 129-FZ of July 26, 2006)
(see text in previous edition)
6. The rights and obligations of the parties to the pledge agreement are determined by the legislation of the country where the party being the pledger is established, has a place of residence or main place of activity, unless otherwise established by agreement of the parties.

Article 11. State registration of pledge

The pledge of the enterprise as a whole or other property subject to state registration must be registered with the body that carries out such registration, unless another procedure for registration is established by this Law.
If the pledge of property is subject to state registration, then the pledge agreement is considered concluded from the moment of its registration.

In accordance with Federal Law No. 166-FZ of October 2, 2012, from January 10, 2014, this Law will be supplemented by Article 11.1 with the following content:

"Article 11.1. Notice of pledge of movable property

1. The pledgor, the pledgee have the right to notify the notary of the occurrence of a pledge of movable property (send a notice of the pledge of movable property).
2. If the agreement on the pledge of movable property or another agreement containing the conditions on the pledge of movable property is notarized, the notification of the pledge of movable property shall be sent without fail to the notary who certifies the relevant agreement for registration in the register of notifications of the pledge of movable property of a unified notary information system.
3. A notary shall register a notification of a pledge of movable property in the manner prescribed by the Fundamentals of the Legislation of the Russian Federation on Notaries.".
Article 12

Failure to comply with the established form of the pledge agreement entails the invalidity of the agreement with the consequences provided for by the legislation of the Russian Federation.

In accordance with Federal Law No. 166-FZ of 02.10.2012, from January 10, 2014, Article 13 after the words "registration of a pledge" will be supplemented with the words "refusal to accept a notification of a pledge of movable property", the words "locating the body implementing" will be replaced the words "finding the body or notary exercising".
Article 13. Appeal against actions related to the registration of pledge

The interested person has the right to appeal against the refusal to register or the illegal registration of the pledge to the court at the location of the registration authority.

In accordance with Federal Law No. 166-FZ of October 2, 2012, from January 10, 2014, Article 14 will be supplemented with part two as follows:
"A notary registering a notice of pledge of movable property is obliged to issue to the applicant a certificate of registration of a notice of pledge of movable property, and at the request of the pledgee, pledgor and other persons, also an extract from the register of notices of pledge of movable property of the unified information system of the notary in the manner prescribed by the Fundamentals of Legislation of the Russian Federation on Notaries.
Article 14. Information on registration of pledge

The body that registers a pledge is obliged to issue certificates of registration to the pledgee and pledgor, as well as extracts from the register at the request of the pledgee, pledgor and other interested parties.

In accordance with Federal Law No. 166-FZ of October 2, 2012, from January 10, 2014, this Law will be supplemented by Article 14.1 with the following content:

"Article 14.1. Obtaining information on the registration of a notice of pledge of movable property

Obtaining information on the registration of a notice of a pledge of movable property from the register of notices of a pledge of movable property of the unified information system of a notary is carried out in accordance with the Fundamentals of the legislation of the Russian Federation on notaries.
Article 15. State fee for registration of pledge

For the registration of a pledge, the issuance of a certificate of registration, as well as the provision of extracts from the register, a state fee is charged in the amount determined by the legislative acts of the Russian Federation. The applicant submits to the registration authority proof of payment of the state fee. In the absence of such evidence, the application is left without movement.

In accordance with Federal Law No. 166-FZ of October 2, 2012, from January 10, 2014, Article 16 will be supplemented with the second part of the following content:
"The notary to whom the notification of the pledge of movable property is sent is responsible for the compliance of the information entered in the register of notifications of the pledge of movable property of the unified information system of the notary with the content of such notification, the timely placement of the notice of the pledge of movable property in the specified information system in accordance with the legislation of the Russian Federation.".
Article 16. Responsibility of the body carrying out the registration

The body entrusted with the registration of the pledge is responsible for the damage caused as a result of violation of the registration rules by its employees.

Article 17. Registration of the fulfillment of an obligation secured by a pledge

1. The pledgee, at the request of the pledgor, is obliged to issue him documents confirming the full or partial fulfillment of the obligation for the subsequent entry of the relevant information into the register.
2. Upon receipt of documents confirming the full or partial fulfillment of an obligation secured by a pledge, the body that registered the pledge is obliged to immediately make an appropriate entry in the register.

In accordance with Federal Law No. 166-FZ of October 2, 2012, from January 10, 2014, this Law will be supplemented by Article 17.1.
Article 18

1. Pledgers - legal entities and individuals registered as entrepreneurs are obliged to:
keep a ledger of pledges;
no later than ten days after the occurrence of the pledge, make an entry in the book containing data on the type and subject of the pledge, as well as the amount of security of the obligation with the pledge;
provide the book for review to any interested person.
2. The pledgor shall be responsible for the timeliness and correctness of entering information about the pledge in the pledge record book. The pledgor is obliged to compensate the victims in full for the losses caused by the untimely entry of entries in the book, their incompleteness or inaccuracy, as well as evasion of the obligation to provide the book of entries of pledges for review.

In accordance with Federal Law No. 166-FZ of October 2, 2012, from January 10, 2015, this Law will be supplemented by Article 18.1 with the following content:

"Article 18.1. Consequences of registration of a notice of pledge of movable property

If the register of notifications on the pledge of movable property of the unified information system of the notary does not contain information on the registration of the notification on the pledge of movable property, as well as on changes that have occurred in the right of pledge at the time of acquisition of the pledged movable property by a person who did not know and could not know that the acquired property is the subject of pledge, such a person is recognized as a bona fide purchaser.
Article 19

1. A pledgor may be a person to whom the subject of pledge belongs on the basis of the right of ownership or full economic management.
2. An enterprise, to which the property is assigned on the right of full economic management, pledges the enterprise as a whole, its structural units and divisions as property complexes, as well as individual buildings and structures with the consent of the owner of this property or a body authorized by him.
3. An institution may pledge property in respect of which, in accordance with the law, it has acquired the right to independent disposal.
4. The pledger of rights may be the person who owns the pledged right.
The tenant may pledge his lease rights without the consent of the landlord, unless otherwise provided by the lease agreement.

Article 20. Right to dispose of pledged property

The pledgor retains the right to dispose of the pledged property, unless otherwise provided by law or the pledge agreement.
At the same time, the transfer of the right to the pledged property is possible only with the transfer to the new pledgor of the principal debt secured by the pledge.

Article 21. Subsequent pledge of pledged property

Subsequent pledges of already pledged property are allowed, unless otherwise provided by this Law and previous pledge agreements.

In accordance with Federal Law No. 166-FZ of October 2, 2012, from January 10, 2015, Article 22 will be supplemented with paragraphs 3 and 4 as follows:
"3. If the pledged movable property, which already serves as collateral for another obligation, becomes the subject of pledge, the subsequent pledge, information about which is entered in the unified information system of the notary, has priority in relation to the subsequent pledge, information about which is not included in the register of notifications of pledge movable property of the unified information system of the notary.
4. If information about all subsequent pledges is entered in the register of notifications of pledge of movable property of the unified information system of the notary, the claims of subsequent pledgees are satisfied from the value of the subject of pledge in the order corresponding to the order in which the notification of pledge of movable property is sent.".
Article 22. Right of the previous pledgee

1. If the pledged property becomes the subject of pledge, which already serves as collateral for another obligation, the pledge right of the previous pledgee shall remain in force.

2. The pledger is obliged to inform each subsequent pledgee about all existing pledges of this property, as well as about the nature and amount of obligations secured by these pledges. The pledgor is obliged to compensate for the losses incurred by any of his pledgees as a result of failure to fulfill this obligation.

Article 23

At the expense of the pledged property, the pledgee has the right to satisfy his claims in full, determined by the time of actual satisfaction, including interest, losses caused by delay in performance, and in cases provided for by law or the contract, a penalty; the necessary expenses for the maintenance of the pledged property and the expenses for the implementation of the claim secured by the pledge are also subject to compensation.

Article 24 - Federal Law of December 30, 2008 N 306-FZ.
(see text in previous edition)

Article 24.1. The procedure for foreclosure on pledged movable property

(see text in previous edition)

1. Foreclosure on pledged movable property to satisfy the claims of the pledgee shall be carried out in accordance with the procedure established by this Law, unless otherwise established by other federal laws.
2. Claims of the pledgee shall be satisfied from the value of the pledged movable property by a court decision.
3. The parties may provide in the pledge agreement a condition on the procedure for sale by a court decision and (or) a condition on the possibility of foreclosure on the pledged movable property out of court.
If the pledgor and the pledgee include in the pledge agreement a condition on the procedure for selling the pledged movable property by a court decision and the pledgee applies to the court with a demand to levy execution on the pledged movable property and to sell it in accordance with the terms of the said agreement, the court, accepting the decision to foreclose the pledged movable property, establishes the procedure for the sale of the pledged property in accordance with the condition on the procedure established by the said agreement.
4. Satisfaction of the claims of the pledgee at the expense of the pledged movable property in an extrajudicial procedure is allowed if it is provided for by the pledge agreement. The condition on the possibility of levying execution on the pledged movable property out of court is included in the pledge agreement.
The parties to the pledge agreement have the right to include in this agreement a condition on levying execution on the pledged movable property extrajudicially at any time.
If the pledge agreement containing the condition on extrajudicial foreclosure of the pledged property provides for several ways to sell the pledged movable property, the right to choose the method of its sale, provided that the specified agreement does not provide otherwise, belongs to the pledgee.
5. If the pledge agreement containing the condition on foreclosure on the pledged movable property in an extrajudicial manner is certified by a notary, in the event of non-fulfillment or improper fulfillment by the debtor of the obligation secured by the pledge, it is allowed to foreclose on the subject of pledge according to the executive inscription of the notary without going to court in the manner established by the legislation of the Russian Federation on notaries and the legislation of the Russian Federation on enforcement proceedings.
6. If a longer period is not established by the pledge agreement between the pledgee and the pledgor, the sale of the pledged movable property is not allowed before the expiration of ten days from the day when the pledgor is considered to have received the appropriate notification in accordance with this Law. The sale of the pledged movable property may be carried out before the expiration of this period in case of a significant risk of loss or damage to the subject of pledge, as well as in case of a significant risk of a significant reduction in the price of the subject of pledge compared to the price (initial sale price) indicated in the notice.
7. The provisions of this article also apply to the subject of pledge, which, in accordance with the pledge agreement, is with the pledgee.
If, in accordance with a pledge agreement containing a clause on an extrajudicial foreclosure procedure, the subject of pledge is with the pledgee, foreclosure on such pledged property and its sale may be carried out by the pledgee without making a notary's executive inscription.
8. If foreclosure on the subject of pledge is carried out on the grounds specified in paragraph 7 of this article, upon the occurrence of grounds for foreclosure, the pledgee shall send to the pledgor in the manner prescribed by Article 28.6 of this Law a notification containing a proposal to fulfill this obligation.
9. This notice must contain information:
1) on an obligation secured by a pledge;
2) on a pledge agreement (if the pledge arose on the basis of a pledge agreement);
3) on pledged movable property, at the expense of which the claims of the pledgee are subject to satisfaction;
4) on the methods of realization of the pledged movable property provided by the agreement of the parties or the law;
5) on the price (initial sale price) of the pledged movable property, except for the sale of securities on the organized securities market.
10. This notice must also contain a requirement to fulfill the obligation secured by the pledge and a warning about foreclosure on the subject of pledge in case of failure to fulfill the said obligation.
11. Attached to this notice is a copy of the calculation of the debt, signed by the pledgee.
12. The pledgee has the right to sell the subject of pledge in accordance with the terms of the pledge agreement, if the pledgor has not submitted documents confirming the fact of fulfillment of the obligation secured by the pledge within twenty days from the date when the pledgor is considered to have received the notification sent to him.

Article 25

In case of partial fulfillment by the debtor of the obligation secured by the pledge, the pledge shall be retained in its original volume until the full fulfillment of the obligation secured by it, unless otherwise provided by law or the contract.

Article 26

If the subject of pledge is several things or rights, the pledgee, at his choice, may receive satisfaction at the expense of all this property or at the expense of any of the things (rights), while retaining the opportunity to subsequently receive satisfaction at the expense of other things (rights) that make up the subject of pledge.

Article 27

If the claim of the pledgee is satisfied by a third party, the right of pledge securing it shall be transferred to him, together with the right of claim, in the manner prescribed by the legislation of the Russian Federation for the assignment of the claim.

Article 28 - Federal Law of December 30, 2008 N 306-FZ.
(see text in previous edition)

Article 28.1. Sale of pledged movable property

(as amended by Federal Law No. 405-FZ of 06.12.2011)
(see text in previous edition)

1. The sale of pledged movable property, which is foreclosed on the basis of a court decision, is carried out by selling at a public auction held in the manner prescribed by the legislation of the Russian Federation on enforcement proceedings.
2. When levying execution on pledged movable property extrajudicially, as well as in the case provided for in paragraph 3 of Article 24.1 of this Law, the sale of the subject of pledge is carried out by selling at an auction held in accordance with the rules established by Articles 447 and 448 of the Civil Code of the Russian Federation , this Law and the agreement of the parties.
Unless otherwise established by the agreement on the pledge of movable property in accordance with the conditions provided for in paragraph 4 of this article, securities circulating on an organized securities market are subject to sale at the auction of a trading organizer on the securities market.
3. In an agreement on pledge of movable property, which provides for an extrajudicial procedure for levying execution on pledged movable property and the parties to which are legal entities and (or) individual entrepreneurs, in order to secure obligations related to entrepreneurial activity, the parties may also indicate one method or several methods sale of the subject of pledge, including the following provisions:
1) leaving behind the subject of pledge by the pledgee;
2) sale of the subject of pledge to a third party by a pledgee or a commission agent acting on the basis of a commission agreement concluded between him and the pledgee.
4. Exclusion from the unified state register of individual entrepreneurs of an individual who has entered into a pledge agreement containing the provisions provided for in subparagraphs 1 and 2 of paragraph 3 of this article does not entail the termination of the pledge agreement in the relevant part.
5. When levying execution on the pledged movable property in the manner prescribed by paragraphs 3 and 4 of this article, the pledgee shall retain the pledged movable property or sell it to a third party (including by engaging a commission agent) at a price equal to its market value or exceeding it.
The pledgee retains the securities pledged and circulating on the organized securities market at the price specified or the procedure for determining which is specified in the pledge agreement, or, if the price or the procedure for determining it is not established in the pledge agreement, at the price determined on the basis of the report on the valuation of such securities.
The right of ownership to the subject of pledge, reserved by the pledgee, passes to him at the moment of transfer of the subject of pledge to him or, if the subject of pledge by the time the pledgee sends the notice to the pledgor of the notice of foreclosure on the subject of pledge is with the pledgee, at the time of receipt by the pledgor of this notice, provided that that the federal law does not establish a different moment for the emergence of ownership of this type of movable property.
If property rights are the subject of the pledge, they shall be transferred to the pledgee at the moment the pledger receives a notice of the abandonment of the pledged property to the pledgee, provided that no other moment of transfer of rights to this type of property is established by federal law.
6. In order to sell the pledged movable property by the methods specified in paragraphs 2-4 of this article, the pledgee shall have the right to conclude on its own behalf all the transactions necessary for this and corresponding to its legal capacity, including with the organizer of the auction and the appraiser, as well as to sign all the transactions necessary for the sale of the pledged movable property documents, including acts of acceptance and transfer, transfer orders.
The amount of remuneration of the auction organizer or commission agent, not exceeding three percent of the proceeds from the sale of pledged movable property, is withheld by the pledgee from the specified amount. If the remuneration of the auction organizer or commission agent exceeds three percent of the amount received from the sale of the pledged movable property, the difference between the remuneration provided for by the agreement concluded with the auction organizer or commission agent and three percent of the specified amount is not subject to reimbursement at the expense of the value of the pledged movable property and is paid for mortgagee's account.
If the pledged property was not sold by sale at auction in accordance with this Law, payment for the services of the organizer of the auction is carried out at the expense of the pledgee who retained the subject of pledge, or if the pledgee did not use the right to retain the subject of pledge, for pledger's account.
7. If the claim of the pledgee is satisfied at the expense of the pledged movable property on the basis of a court decision, if the pledgor has good reasons and at his request, the court has the right to postpone the sale of the pledged item at public auction for up to one year. The postponement does not affect the rights and obligations of the parties under the obligation secured by the pledge of this property, and does not release the debtor from compensation for the creditor's losses and penalties that have increased during the delay.
When determining the period for which a deferment is granted for the sale of the pledged movable property, the court also takes into account that the amount of the pledgee's claims to be satisfied from the value of the pledged movable property at the time of the expiration of the delay must not exceed the value of the pledged movable property according to the assessment specified in the pledge agreement.
Postponement is not allowed if it may entail a significant increase in the risk of loss or destruction, the risk of a significant reduction in the price of the pledged item compared to the initial sale price of the pledged item, or a significant deterioration in the financial position of the pledgee.
8. If foreclosure on pledged movable property is carried out extrajudicially, the parties may set a period within which, from the day specified in paragraph 6 of Article 24.1 of this Law, the sale of the pledged movable property must be carried out. If the agreement between the pledgor and the pledgee does not establish such a period, the sale of the pledged movable property must be carried out within a reasonable time.
In the event that the subject of the pledge was sold after the period specified in this paragraph, the pledgor has the right to demand compensation for losses.
9. If, in accordance with a pledge agreement containing a condition on levying execution on the pledged movable property in an extrajudicial manner, the sale of the subject of pledge is carried out by selling it by the pledgee to a third party, the pledgee shall send to the pledgor a copy of the sale and purchase agreement concluded with this person certified by the pledgee.
10. If, when levying execution on pledged movable property in accordance with a pledge agreement containing a condition on levying execution on pledged movable property in an out-of-court procedure, the sale of the pledged property was not carried out within the time period established in accordance with paragraph 5 of Article 24.1 of this Law, the pledgee has the right to demand foreclosure of the pledged movable property in a judicial proceeding.
11. If the amount received from the sale of the pledged movable property is insufficient to cover the claim of the pledgee, he has the right (unless otherwise specified in the law or the contract) to receive the missing amount from the other property of the debtor, without using the advantage based on the pledge.
12. If the amount received from the sale of the pledged movable property, or the price at which the pledgee retained the pledged movable property, exceeds the amount of the pledgee's claim secured by the pledge, the difference shall be returned to the pledgor. The specified difference must be returned within the period established by the agreement between the pledgor and the pledgee, or, if such a period is not established, within ten days from the date when the price for the sale of the pledged movable property must be paid by the buyer, or from the date when the pledgee acquired the right ownership of mortgaged movable property.
When levying execution on the pledged movable property in an extrajudicial procedure, the pledgee shall be liable to the pledgor for the return of the said difference.

Article 28.2. The procedure for the sale of pledged movable property at auction

(as amended by Federal Law No. 405-FZ of 06.12.2011)
(see text in previous edition)

1. For the purposes of this Law, bidding means an open auction, the conduct of which is ensured by the organizer of bidding in the manner prescribed by this Law.
2. When levying execution on pledged property out of court, the auction organizer is determined by the pledge agreement or the agreement from which the obligation secured by the pledge by virtue of law arose.
3. The bailiff sends a copy of the resolution on the transfer of property for sale to the organizer of the auction. Acceptance for the sale of pledged movable property from the bailiff under the act of acceptance and transfer, as well as the relevant documents provided for by the legislation of the Russian Federation on enforcement proceedings, is carried out by the pledgee.
4. When selling pledged movable property at public auction on the basis of a court decision, the bailiff or when selling at auction conducted when foreclosing such property out of court, the pledgee is obliged to send no later than ten days before the date of the auction to the pledgor and to the debtor under the main obligation, a notice of the auction, indicating the date, time and place of the auction.
5. The organizer of the auction notifies about the upcoming auction no later than ten days, but not earlier than thirty days before its holding in a periodical, which is the official information body of the executive authority of the constituent entity of the Russian Federation, at the place of the auction, and also sends the relevant information for posting on the Internet in the manner prescribed by the Government of the Russian Federation.
6. The notice of the auction shall indicate:
1) information about the auction organizer (company name (name), organizational and legal form, location, registration number (main state registration number), contact phone number);
2) the basis for the sale of pledged movable property at auction in accordance with this Law (a court decision or an executive inscription of a notary in the event of extrajudicial foreclosure of such movable property);
3) information about the pledged movable property sold at auction, its composition, characteristics, description of such pledged property, the procedure for familiarization with the pledged movable property, information about the presence or absence of encumbrances and other rights of third parties to such pledged property;
4) requirements for drawing up an application for participation in the auction;
5) the amount of the deposit, the term and procedure for making the deposit for participation in the auction;
6) start and end dates for accepting applications for participation in the auction;
7) date and time of the beginning and end of trading;
8) the initial sale price of the pledged movable property;
9) the amount of increase in the initial sale price of the pledged movable property;
10) date, time of summing up the results of the auction;
11) a draft contract for the sale of pledged movable property and the procedure for concluding the said contract;
12) terms of payments, details of accounts to which payments are made.
7. Persons wishing to take part in the auction make a deposit in the amount, terms and in the manner that must be indicated in the notice of the auction. The amount of the deposit may not exceed five per cent of the initial sale price of the pledged movable property.
For persons who participated in the auction, but did not win it, the deposit is returned no later than five working days after the end of the auction. The deposit is also refundable if the auction does not take place.
8. The person who offered the highest price for the movable property being sold is recognized as the winner of the auction. This person and the organizer of the auction sign the protocol on the results of the auction on the day of the auction. The evasion of any of them from signing the protocol entails the consequences provided for by paragraph 5 of Article 448 of the Civil Code of the Russian Federation.
9. The person who won the auction must deposit, within five working days after the end of the auction, the amount for which this person purchased the pledged movable property (purchase price), minus the deposit paid earlier to the account indicated by the organizer of the auction. If the specified amount is not paid, the deposit will not be returned.
10. Within five working days from the moment the purchase price is paid by the person who won the auction, the organizer of the auction concludes a contract of sale with this person. This agreement and the protocol on the results of the auction are the basis for making the necessary entries in the relevant register, which keeps records of the rights to pledged movable property.
11. The initial sale price of the pledged movable property is determined by a court decision in cases of foreclosure on movable property in court or in other cases in accordance with the pledge agreement.
When determining the initial sale price of the pledged movable property in court, the indicated price is determined by a court decision on the basis of an agreement between the pledgor and the pledgee, reached during the consideration of the case in court, and in the event of a dispute, by the court itself.
If the initial sale price of the pledged movable property is determined on the basis of the appraiser's report, the initial sale price of the pledged property, from which the auction starts, is set equal to eighty percent of the market value of such property, as determined in the appraiser's report.
12. The pledge agreement, which provides for the right of the pledgee to satisfy claims at the expense of the pledged movable property in an out-of-court procedure, shall specify the initial sale price of the pledged movable property or the procedure for determining it.
If, when selling pledged movable property out of court, the federal law provides for the obligatory engagement of an appraiser, the initial sale price of the pledged movable property, from which auctions begin, is set equal to eighty percent of the market value of such property, as determined in the appraiser's report, unless otherwise provided by the pledge agreement, containing a condition on foreclosure on pledged movable property in an extrajudicial procedure.
The pledged movable property is sold to the person who offered the highest price at the auction.
13. The involvement of an appraiser in the sale of pledged movable property, which is foreclosed on out of court, is mandatory if the pledgee retains the subject of pledge or sells it to a third party (including by engaging a commission agent). If the pledgee retains pledged securities circulating on the organized securities market at the price indicated or the procedure for determining which is indicated in the pledge agreement, the involvement of an appraiser is not required.
If the interested person does not agree with the valuation of the pledged movable property, he has the right to demand compensation from the pledgee for losses caused by the sale of the subject of pledge at the price indicated in the valuation report.
14. When selling pledged movable property at auction, the involvement of an appraiser is obligatory if the pledged property is:
1) securities not circulating on the organized securities market;
2) property rights;
3) precious metals and precious stones, products from them, as well as scrap of such products;
4) collectible banknotes in rubles, in foreign currency;
5) items of significant historical, artistic or other cultural value for society;
6) other property, the valuation of which under the pledge agreement exceeds five hundred thousand rubles.
15. The involvement of an appraiser is not required when selling pledged securities circulating on the organized securities market.

Article 28.3. Recognition of trades as invalid

1. When selling the pledged movable property at the auction, the organizer of the auction declares them void if:
1) less than two participants took part in the auction;
2) no increase in the initial sale price of the pledged movable property was made at the auction;
3) the person who won the auction did not pay the purchase price within the prescribed period.
2. Auctions must be declared invalid not later than the next day after the day when any of the circumstances specified in paragraph 1 of this article took place.
Within ten days after the auction is declared invalid, the pledgee, by agreement with the pledgor, has the right to acquire the pledged movable property and set off his claims secured by the pledge against the purchase price. The rules on the contract of sale shall apply to such an agreement.
If the agreement on the acquisition of the pledged movable property by the pledgee is not concluded, no later than one month after the date of the first auction, repeated auctions are held. The initial sale price of the pledged movable property at repeated auctions, if their holding is caused by the circumstances specified in subparagraphs 1 and 2 of paragraph 1 of this article, is reduced by fifteen percent.
When selling pledged movable property at auctions held when foreclosing such property in an extrajudicial manner, the pledge agreement may provide for a price reduction procedure in the event that repeated auctions were declared invalid due to the circumstances specified in subparagraphs 1 and 2 of paragraph 1 of this articles.
3. When a repeated auction is declared invalid, the pledgee shall have the right to retain the subject of pledge with its valuation in the amount of up to ten percent lower than the initial sale price at the repeated auction, unless a higher valuation is established by agreement of the parties.
If the pledgee fails to use the right to retain the pledged movable property within one month from the date of the announcement of repeated auctions as failed, the pledge agreement shall be terminated.
The pledgee is considered to have exercised this right if, within a month from the date of the announcement of repeated auctions as failed, he sends in writing to the organizer of the auction and the pledgor or, if the foreclosure was carried out in court, the organizer of the auction, the pledgor and the bailiff-executor, an application for the retention of the subject of pledge .
4. The right of ownership to the pledged movable property left behind is transferred to the pledgee at the moment of transfer of the subject of pledge to him or if the subject of pledge by the time the pledgee sends the application to the organizer of the auction to leave the pledged movable property is with the pledgee, at the time of receipt of the said application provided that the federal law does not establish another moment of the emergence of the right of ownership to this type of movable property.
If property rights are the subject of pledge, they are transferred to the pledgee at the time the organizer of the auction receives an application for reserving property rights, provided that no other moment of transfer of rights to this type of property is established by federal law.

Article 28.4. Sale of pledged movable property under a commission agreement

(introduced by Federal Law No. 405-FZ of December 6, 2011)

1. In the cases provided for by Article 28.1 of this Law, a commission agreement may be concluded for the purpose of selling the pledged movable property, at the expense of which the claims of the pledgee are satisfied out of court. In this case, the pledgee is the committent.
The commission agent may be determined in a pledge agreement containing a condition on foreclosure on the pledged movable property in an extrajudicial manner. In the absence of an indication of the definition of a commission agent in the pledge agreement, the commission agent is determined by the pledgee independently.
In cases where the commission agreement is concluded for the purpose of selling the pledged movable property, which is levied by the pledgee, the things received by the commission agent from the committent are not the property of the latter.
2. The sale price of the pledged movable property under a commission agreement shall be established in the amount not less than the market value of the property indicated in the appraiser's report.
The sale price of pledged securities circulating on the organized securities market under a commission agreement is determined by the agreement on the pledge of these securities or, if such a price or the procedure for determining it in the pledge agreement is not established, at the price determined on the basis of a report on the valuation of these securities. papers.
3. If the commission agent sold the subject of pledge at a price that is lower than its market value indicated in the appraiser's report, the pledgor has the right to demand compensation for losses from the pledgee.
4. In the event that the pledged movable property was not sold by the commission agent within the period established by the pledge agreement or the period provided for in paragraph 8 of Article 28.1 of this Law, the sale of the subject of pledge takes place at the auction in the manner established by Article 28.2 of this Law.

Article 28.5. Distribution of the proceeds from the sale of pledged movable property

(introduced by Federal Law No. 405-FZ of December 6, 2011)

1. When selling pledged movable property in the event of foreclosure on the subject of pledge out of court or on the basis of a court decision, if the court decision determines the method of selling the pledged movable property in the manner established by agreement of the parties, the amount received from the sale of the subject of pledge shall be distributed between the pledgees who have declared their claims for collection, other creditors of the pledger and the pledger himself.
The distribution is carried out by the body executing court decisions, or if the execution of the pledged movable property was levied extrajudicially or the pledged item was sold on the basis of a court decision in the manner established by agreement of the parties, by the organizer of the auction or, if the auction is not held, by a notary .
2. The proceeds from the sale of the pledged property shall be distributed in compliance with the rules of Article 319, paragraph 1 of Article 334, paragraphs 3 and 4 of Article 350 of the Civil Code of the Russian Federation, as well as Article 46 of this Law.
Claims of the subsequent pledgee shall be satisfied from the value of the subject of pledge after satisfaction of the claims of the previous pledgee.
After the distribution of the proceeds from the sale of the pledged movable property among all its pledgees who have declared their claims for collection, in the order of priority established on the basis of pledge agreements or if the federal law provides for accounting and (or) registration of the pledge agreement and of the pledge by virtue of the law of individual objects of movable property, on the basis of the data of the relevant register, the amounts of the penalty, other penalties, as well as losses payable to the pledgee in accordance with the terms of the obligation secured by the pledge are distributed.

Article 28.6. Notice procedure and requirements

(introduced by Federal Law No. 405-FZ of December 6, 2011)

1. The notice and demand (hereinafter referred to as the notice) provided for by this Law, the pledge agreement, shall be sent to the address indicated by the pledgor in the pledge agreement (at the location of the legal entity or at the place of residence of an individual, including an individual entrepreneur).
The location of a legal entity is determined on the basis of information contained in the unified state register of legal entities, the place of residence of an individual entrepreneur - in the unified state register of individual entrepreneurs.
2. The notification shall be sent by registered mail with acknowledgment of receipt or handed over to the addressee against receipt.
3. The moment of receipt of the notification by the party to the pledge agreement is considered:
1) the date specified in the notice of delivery of the notice at the address (location, place of residence) of the party to the pledge agreement specified therein;
2) the date indicated on the copy of the notice by the party to the pledge agreement or its representative upon delivery of the notice against signature;
3) the date of refusal of the party to the pledge agreement to receive the notification, if this refusal is recorded by the postal organization;
4) the date on which the notice sent by registered mail with notification to the address (location, place of residence) of the party to the pledge agreement specified in it was not delivered due to the absence of the addressee at the specified address (location, place of residence) , about which the postal organization informed the sender of the notification.
4. A party to a pledge agreement is also deemed to have received the notification properly if:
1) the addressee refused to receive the notification and this refusal was recorded by the postal organization;
2) the notification has been delivered to the authorized person of the legal entity.

Article 29

In the event that the proceeds from the sale of the subject of pledge are not sufficient to fully satisfy the requirements of the pledgee, he shall have the right, unless otherwise provided by law or the contract, to receive the missing amount from the other property of the debtor, which may be levied in accordance with the legislation of the Russian Federation without using the advantage based on the right of pledge.

Article 30

If the amount received from the sale of the subject of pledge exceeds the amount of the pledgee's claims secured by this pledge, the difference shall be returned to the pledgor.

Article 31

1. The pledgor has the right at any time until the moment of sale of the subject of pledge to stop foreclosure on the pledged property by fulfilling the obligation secured by the pledge.
2. If an obligation secured by a pledge provides for performance in installments, the pledgor has the right to terminate the foreclosure on the subject of pledge by fulfilling the overdue part of the obligation.
3. Agreements restricting the rights of the pledger, provided for in paragraphs 1 and 2 of this article, are invalid.

Article 32

The pledge remains valid if the right of ownership or full economic management of the pledged thing or the right constituting the subject of the pledge passes to a third party.

Article 33

In cases where, in accordance with the procedure established by law, the pledgee assigns the secured claim to a third party or the pledger transfers the debt arising from the obligation secured by the pledge to another person, the pledge shall remain in force.

Article 34

The right of pledge terminates:
1) upon termination of an obligation secured by a pledge;
2) upon the destruction of the pledged property;
3) upon expiration of the term of the right constituting the subject of pledge;
4) upon transfer of rights to the subject of pledge to the pledgee;
5) in other cases provided for by law.

Section II. Pledge with abandonment of property
AT THE PLEDGER

Chapter 1. GENERAL QUESTIONS

Article 35

1. Enterprises, buildings, structures, apartments, vehicles, space objects and other property specified in Article 6 of this Law may be the subject of a pledge with the pledged property remaining with the pledger.
2. Separable fruits may be the subject of a pledge referred to in paragraph 1 of this article, provided that they do not become, from the moment of separation, the object of the rights of a third party.
3. Pledge of property transferred by the pledgor for the time being into possession or use of a third party shall be considered as a pledge with its leaving with the pledgor.

Article 36

In the event of a pledge with the abandonment of property with the pledgor, the pledgee, unless otherwise provided by the agreement, has the right to:
1) check according to the documents and in fact the presence, size, condition and conditions of storage of the subject of pledge;
2) require the pledger to take measures necessary to preserve the subject of pledge;
3) demand from any person the termination of encroachment on the subject of pledge, threatening its loss or damage.
If the subject of pledge is lost through no fault of the pledgee and the pledgor did not restore it or, with the consent of the pledgee, did not replace it with other property of equal value, the pledgee shall have the right to demand early performance of the obligation secured by the pledge.

Article 37

Unless otherwise provided by the agreement and the law, the pledgor, in case of a pledge with the leaving of property with the pledgor, has the right to:
1) to possess and use the subject of pledge in accordance with its purpose;
2) dispose of the subject of pledge by alienating it with transfer to the acquirer of the debt under the obligation secured by the pledge, or by leasing it.

Article 38

The pledgor in case of a pledge with the abandonment of property with the pledgor, unless otherwise provided by the pledge agreement, is obliged:
1) to insure at his own expense the subject of pledge for its full value;
2) take measures necessary to preserve the subject of pledge, including major and current repairs;
3) notify the pledgee of the lease of the subject of pledge.

Article 39

In case of violation by the pledgor of the obligations provided for by paragraphs 1 and 2 of Article 38 of this Law, the pledgee has the right to foreclose on the subject of pledge before the due date for the fulfillment of the obligation secured by the pledge.

Article 40

1. Has expired. - Federal Law of December 6, 2011 N 405-FZ.
(see text in previous edition)
On the application of paragraph 2 of Article 40, see Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation of February 17, 2011 N 10.
2. Pledge of vehicles is subject to registration in registers maintained by state organizations that register civil air, sea, river vessels and other vehicles.
3. Pledge of an object intended for exploration or civil use of outer space, the Moon and other celestial bodies shall be subject to registration in a special state register.
Pledge of an object located in outer space, on the Moon or other celestial bodies, is subject to registration in the register, which is maintained in accordance with the norms of international space law.

Article 41

The pledge of land plots by persons to whom they belong by right of ownership, if such pledge does not fall under the rules of Chapter 2 of this Section, shall be carried out in the manner established by the land and other legislation of the Russian Federation.

Chapter 2
BUILDINGS AND OTHER OBJECTS DIRECTLY
LAND RELATED (MORTAGE)

Article 42. Concept of mortgage

Mortgage is recognized as a pledge of an enterprise, structure, building, structure or other object directly related to land, together with the relevant land plot or the right to use it.

Article 43 Mortgage registration

1. The mortgage agreement must be notarized.
2. Mortgage is registered in the land register at the location of the enterprise, structure, building, structure or other object.
The transfer of the right of ownership or full economic management of the subject of mortgage from the pledgor to another person is subject to registration in the same land register in which the mortgage is registered.
3. The body that carries out the state registration of the pledge of the enterprise as a whole is obliged to transfer information about the registration of the pledge to the authorities maintaining the land register, including at the location of the territorially separate divisions of the enterprise.

Article 44. Mortgage of an enterprise

1. The mortgage of an enterprise extends to all of its property, including fixed assets and working capital, as well as other valuables reflected in the independent balance sheet of the enterprise, unless otherwise provided by law or contract.
2. An enterprise-pledger shall be obliged, at the request of the pledgee, to provide him with an annual balance sheet.
3. In case of default on the obligation secured by the mortgage of the enterprise, the pledgee shall have the right to take measures to improve the financial position of the enterprise, provided for by the mortgage agreement, including the appointment of representatives to the management bodies of the enterprise, restriction of the right to dispose of the manufactured products and other property of the enterprise. If the indicated measures did not give proper results, the pledgee has the right to levy execution on the enterprise under mortgage.
4. When levying execution on an enterprise under mortgage, it is sold at auction as a single complex in the manner prescribed by the legislation of the Russian Federation.

Article 45. Early fulfillment of an obligation secured by a mortgage

The pledgor shall have the right at any time to early fulfill the obligation secured by the mortgage in full, if the mortgage agreement excludes the possibility of a subsequent pledge of the same subject of mortgage.

Chapter 3. Pledge of goods in circulation and processing

Article 46

1. When pledging goods in circulation and processing, it is allowed to change the composition and natural form of the subject of pledge (commodity stocks, raw materials, materials, semi-finished products, finished products, etc.), provided that their total value does not become less than that specified in the pledge agreement.
Reducing the value of pledged goods in circulation and processing is allowed in proportion to the fulfilled part of the obligation secured by their pledge, unless otherwise provided by the contract.
2. When pledging goods in circulation and processing, the goods sold by the pledgor shall cease to be the subject of pledge from the moment of their transfer to the ownership, full economic management or operational management of the acquirer, and the goods acquired by the pledgor, provided for in the pledge agreement, become the subject of pledge from the moment they arise the pledger has the right of ownership or full economic management.

Article 47

An agreement on the pledge of goods in circulation and processing must determine the type of pledged goods, its other generic features, the total value of the subject of pledge, the place where it is located, as well as the types of goods that can replace the subject of pledge.

Article 48

When pledging goods in circulation and processing, the pledgor retains the right to own, use and dispose of the subject of pledge in compliance with the rules of this Chapter.

Section III. PLEDGE WITH TRANSFER OF PLEDGED PROPERTY
(THINGS) TO THE Pledgee (PHOTAGE)

Article 49

1. A pledge agreement is recognized as a pledge, under the terms of which the pledged property (thing) is transferred to the pledgee for possession.
2. By agreement between the pledgee and the pledgor, the pledged item may be left with the pledgor under lock and key of the pledgee (firm pledge). An individually defined thing may be left with the pledgor with the imposition of signs indicating the pledge.
The rules of this section shall apply to a fixed pledge insofar as their application does not contradict the essence of the relationship between the pledgee and the pledgor in such a pledge.

Article 50

When pledging, the pledgee, unless otherwise provided by the agreement, is obliged to:
1) to insure the pledged item for its full value at the expense and in the interests of the pledgor;
2) take measures necessary to preserve the subject of pledge;
3) immediately notify the pledgor of the threat of loss or damage to the pledged item;
4) regularly send the pledgor a report on the use of the subject of pledge, if the use of it is allowed in accordance with paragraph 1 of Article 51 of this Law;
5) immediately return the subject of the pledge after the fulfillment by the pledgor or a third person of the obligation secured by the pledge.
The pledgee must extract income from the subject of the pledge in the interests of the pledger in the case when this is provided for by the agreement.

Article 51

1. The pledgee shall have the right to use the subject of pledge in cases expressly provided for by the pledge agreement. The income and other property benefits acquired by the pledgee as a result of using the subject of the pledge shall be used to cover the costs of maintaining the subject of the pledge, and shall also be counted towards the repayment of interest on the debt or the debt itself on the obligation secured by the pledge.
2. If there is a real threat of loss, shortage or damage to the subject of pledge through no fault of the pledgee, he shall have the right to demand replacement of the subject of pledge, and if the pledgor refuses to fulfill this requirement, to levy execution on the subject of pledge before the due date for fulfillment of the obligation secured by the pledge.

Article 52

If the pledgee stores or uses the pledged item improperly, the pledgor shall have the right to demand the termination of the pledge at any time or to fulfill the obligation secured by the pledge ahead of schedule.

Article 53

1. The pledgee shall be liable for the loss, shortage or damage of the pledged item, unless he proves that the loss, shortage or damage occurred through no fault of his.
If the provision of loans secured by property is the subject of the pledgee's business activity, his release from liability can take place only if the pledgee proves that the loss, shortage or damage to the subject of pledge occurred due to force majeure or (if the subject of pledge was left with the pledger) intent or gross negligence of the pledger.
(as amended by Federal Law No. 197-FZ of July 19, 2007)
(see text in previous edition)
2. The pledgee shall bear responsibility for the loss and shortage of the pledged item in the amount of the value of the lost (missing) item, and for damage to the pledged item - in the amount by which the value of the pledged item has decreased. If, when accepting a thing as a pledge, an assessment of the subject of pledge was made, the liability of the pledgee shall not exceed the specified assessment.
The pledgee is obliged to fully compensate the pledger for losses caused by the loss, shortage or damage to the subject of pledge, if this is provided for by law or the agreement.

Section IV. Pledge of rights

Article 54

1. The subject of pledge may be the rights of possession and use belonging to the pledgor, including the rights of the tenant, other rights (claims) arising from obligations, and other property rights.
2. A right with a definite period of validity may be the subject of a pledge only until the expiration of its period of validity.
3. In an agreement on the pledge of rights that do not have a monetary value, the value of the subject of pledge is determined by agreement of the parties.

Article 55

In the agreement on pledge of rights, along with the conditions provided for in Article 10 of this Law, the person who is the debtor in relation to the pledgor must be indicated. The pledgor is obliged to notify his debtor of the completed pledge of rights.

Article 56

When pledging rights, unless otherwise provided by the agreement, the pledgor is obliged to:
1) perform actions that are necessary to ensure the validity of the pledged right;
2) not to make an assignment of the pledged right;
3) not to take actions that lead to the termination of the pledged right or a decrease in its value;
4) take measures necessary to protect the pledged right from infringement by third parties;
5) inform the pledgee about the changes that have taken place in the pledged right, about its violations by third parties and about the claims of third parties to this right.

Article 57

When a pledge of rights, unless otherwise provided by the agreement, the pledgee has the right:
1) regardless of the due date for the fulfillment of the obligation secured by the pledge, to demand in court, arbitration court the transfer of the pledged right to itself, if the pledgor has not fulfilled the obligations provided for by Article 56 of this Law;
2) to intervene as a third party in a case in which a claim for a pledged right is being considered;
3) in case of default by the pledgor of the obligations stipulated by paragraph 4 of Article 56 of this Law, independently take measures necessary to protect the pledged right from violations by third parties.

Article 58

1. If the pledgor's debtor fulfills his obligation before the pledgor's fulfillment of the obligation secured by the pledge, everything received by the pledgor becomes the subject of pledge, of which the pledgor is obliged to immediately notify the pledgee.
2. When receiving money from its debtor to fulfill an obligation, the pledgor is obliged, at the request of the pledgee, to transfer the corresponding amounts towards the fulfillment of the obligation secured by the pledge, unless otherwise established by the pledge agreement.

Section V. GUARANTEES OF THE RIGHTS OF THE PARTIES IN PLEDGE

Article 59

1. If the Russian Federation or a republic within the Russian Federation adopts legislative acts terminating the pledge right or the pledgor's right to pledged property, the losses caused to the pledgee as a result of the adoption of these acts shall be reimbursed to him in full by the Russian Federation or the relevant republic within the Russian Federation . Disputes about compensation for losses are resolved by the court.
2. In cases of termination of the right of ownership to the pledged property or termination of the pledged rights in connection with the decision of the state authority and administration, not aimed directly at the seizure of the pledged property or pledged rights, including the decision to withdraw the land plot on which the mortgaged house is located, other buildings, structures or plantings, losses caused to the pledgee as a result of this decision, are compensated to the pledgee in full by this state body at the expense of the funds at its disposal. Disputes about compensation for losses are resolved by a court or arbitration court.

Article 60

1. If, as a result of the issuance by a government body or local self-government body of an act that does not comply with legislation, the rights of the pledgee are violated, such an act shall be recognized as invalid by a court or arbitration court upon the application of the pledgee.
2. Losses caused to the pledgee as a result of the issuance of the act specified in paragraph 1 of this article shall be subject to compensation in full by the relevant state administration body or local self-government body.

The president
Russian Federation
B. YELTSIN
Moscow, House of Soviets of Russia
May 29, 1992
N 2872-1

Article 77

1. Residential premises acquired or built in whole or in part with the use of credit funds from a bank or other credit organization or funds of a targeted loan provided by another legal entity for the acquisition or construction of the said residential premises shall be pledged from the moment of state registration of the mortgage in the Unified State Register of Real Estate .

2. To the pledge of a residential house or apartment arising on the basis of paragraph 1 of this article, the rules on the pledge of immovable property arising by virtue of an agreement shall be applied accordingly.

3. The guardianship and guardianship authorities have the right to give consent to the alienation and (or) mortgage of the residential premises in which the family members of the owner of this residential premises under guardianship or guardianship or minor family members of the owner who are left without parental care (of which the guardianship authority is aware and guardianship), if this does not affect the rights or legally protected interests of these persons.

The decision of the guardianship and guardianship authorities to give consent to the alienation and (or) mortgage of the residential premises in which these persons live, or a reasoned decision to refuse such consent must be submitted to the applicant in writing no later than 30 days after the date of filing requests for such consent.

The decision of the guardianship and guardianship authorities may be challenged in court.

4. Residential premises (residential premises) acquired or built in whole or in part with the use of savings for the housing provision of military personnel, provided under a targeted housing loan agreement in accordance with the Federal Law "On the accumulative mortgage system for housing provision of military personnel", is considered to be pledged with the moment of state registration of the borrower's ownership of this residential building or this apartment. In the case of using credit (borrowed) funds of a bank or other organization, it is considered to be pledged (mortgaged) by virtue of law with the relevant creditor and with the Russian Federation represented by the federal executive body that ensures the functioning of the accumulative mortgage system of housing for military personnel, which provided the target housing a loan for the purchase or construction of residential premises (residential premises).

At the same time, a mortgage bond shall not be issued for the purpose of certifying the rights of the Russian Federation under an obligation secured by a mortgage. If the residential premises (residential premises) are both pledged by the relevant creditor and the Russian Federation, the claims of the Russian Federation shall be satisfied after the claims of the said creditor are satisfied.

The legal basis for a mortgage is established by Federal Law 102 FZ "On Mortgage (Pledge of Real Estate)". This is the main document that establishes the rights of the parties to the transaction and describes its procedure. Let's consider the key aspects of the legislative act, innovations and points that borrowers should pay special attention to.

What regulates the law on mortgage (mortgage of real estate) as amended for 2019

Federal Law No. 102 defines the grounds for the emergence of a mortgage, regulates the rights of interested parties and describes the procedure for registering a pledge and drawing up a mortgage agreement. In accordance with paragraph 1 of Article 1, the parties to the mortgage agreement are the pledgee (creditor) and the pledger (borrower), who, as security for obligations, transfers real estate to the creditor.

This legal act is one of the main documents for mortgage borrowers, since it is on its basis that banks determine the terms of the contract.

The law was adopted in 1998, but has undergone many changes over the years. Further adjustments were made in 2019. What's new in the document:

1. The parties to the transaction can draw up a mortgage in electronic form on the State Services portal or the Rosreestr website. Such amendments will simplify the paperwork procedure, reduce the borrower's material costs and ensure the safety of the document.
2. The requirements for the content of the mortgage have changed. In addition to the basic information regarding these parties, the amount of obligations and terms, the document must contain extended information about the debtor (SNILS and TIN) and real estate (cadastral number, object characteristics, market value).
3. The changes affected the content of the agreement between the lender and the borrower. From July 1, 2018, the list of basic conditions is determined by the Federal Law No. 353 "On consumer loans". The list of mandatory clauses of the contract has expanded significantly, which reduces the risk of disputes between the parties.
4. The amount of debt recovery and the amount of the penalty from 2019 will depend on the interest rate of the Central Bank.
5. The last amendment touched upon the terms of collection. In accordance with Art. 61 of the law in the new edition, the debt of the borrower will be considered closed if real estate prices have fallen so much that the bank failed to sell the pledge at public auction.

In the near future, a bill with changes is expected: optimization of mortgage processing through the introduction of digital technologies, the introduction of a ban on the issuance of mortgage loans in foreign currency, the possibility of restructuring foreign currency mortgage loans.

Brief description of sections

Federal Law No. 102 consists of 14 chapters, each of which deals with key aspects of mortgages:

1. Basic provisions. The section defines the concept of mortgage, the grounds for its occurrence and the list of real estate that can be pledged to secure debt obligations.
2. mortgage agreement. This chapter is devoted to the rules for concluding a mortgage agreement and registering a pledge with Rosreestr.
3. Mortgage. It's all about the content, design, registration and exercise of mortgage rights.
4. Mortgage registration. The section establishes the procedure for registering a mortgage, the conditions for changing the registration record of a pledge, the amount of the state duty and the removal of encumbrances from real estate.
5. Security of the pledge. The chapter establishes the duty of the pledgor to ensure the safety of real estate, including by insuring it. It also talks about the consequences of the loss and damage of collateral for the debtor.
6. Rights to property of third parties. The conditions and procedure for the transfer of rights to pledged property to third parties are established.
7. Subsequent mortgage. The section regulates the issue of re-encumbrance of property: the conditions under which this is possible and the rules for registration.
8. Assignment of rights under a mortgage agreement. This chapter says that the bank can sell to third parties the right to claim the debt.
9. Collection. The grounds for the recovery of the subject of pledge, the judicial procedure and methods for resolving disputes are determined.
10. Sale of mortgaged property. The chapter establishes the procedure for holding tenders and the grounds for terminating the recovery of property.
11. Features of the mortgage of the land. A list of plots that may be pledged, the rights of the parties to the transaction for structures located on the pledged land, and the specifics of collecting a plot depending on the category of land are given.
12. Mortgage of enterprises. The deadlines for the fulfillment of obligations in the mortgage of enterprises, the rights of the borrower, as well as the rules for the collection of collateral are established.
13. Mortgage of residential real estate. The section considers the rules for registration of apartments and houses as a pledge and determines the procedure for the sale of property in the event of foreclosure on it.

Advantages and disadvantages of the law

The bill is improved every year. Innovations are designed, first of all, to protect the rights of the parties and simplify the procedure for processing a transaction.

The main advantages of the law:

• the interests of all owners of real estate, which is transferred as a pledge, are taken into account;
• with a mortgage, by virtue of the law, one contract is drawn up, which allows you to avoid paperwork;
• the ability to pledge the same property to several creditors at once.

Despite constant adjustments, the law still has a lot of weaknesses. For example, it does not indicate cases when the encumbrance on property can be removed in the event of termination of the contract of sale. The grounds on which the pledge expires are listed in Art. 352 of the Civil Code of the Russian Federation, and it also does not contain a word about the termination of the encumbrance in the event of termination of the contract of sale. If the borrower bought an apartment with credit money, but then terminated the contract with the seller, then the mortgage record in Rosreestr will remain valid until the buyer repays the loan.

Another significant disadvantage is the right of the creditor to assign the rights to claim the debt. The bank may sell the borrower's debt to third parties who do not have a mortgage lending license. It turns out that any third-party organization can become a pledgee.

It can also be noted that the document as a whole is more aimed at protecting the interests of the bank, its ability to collect debt and realize the pledge.

For those who are going to apply for a mortgage, it is advisable to know the key aspects of the law:

1. Real estate pledged to the bank will be under encumbrance until the loan is repaid. This means that the borrower does not have the right to make transactions with this object during the entire payment period without the consent of the lender. If the housing was purchased on a military mortgage, then both the bank and the Ministry of Defense will act as mortgagees.
2. If the debt is not repaid, the pledge is sold at auction, and the money received is sent to the bank as compensation for unpaid interest, non-payment of the principal debt and for reimbursement of costs in court.
3. If the real estate is owned by several persons, then their consent is required for registration of the pledge.
4. If there are disabled people or children among the homeowners, then the consent of the guardianship and guardianship authorities is required to issue a pledge. In accordance with Art. 77, the authorities can give consent only if the mortgage does not violate the interests of minors or incapacitated owners.
5. The subject of the pledge is insured without fail. Insurance against the risk of non-payment of the loan is not mandatory.
6. Mortgage registration is carried out at the location of the property.
7. The bank may demand early payment of the entire amount if the borrower violates the terms of the agreement and Federal Law No. 102.
8. The Bank has the right to inspect the pledged property.
9. Collection of collateral is unacceptable if the balance of the debt is less than 5% of the total loan amount.
10. If the recipient of the loan cannot repay the debt and the case has gone to court, then he has the right to demand a delay in the sale of collateral for 1 year.
11. In accordance with Art. 78 upon collection of housing and its sale, the borrower loses the right to use this property.

Thus, the mortgage law is a fundamental document on the basis of which the relationship between the bank and the borrower is built.

Welcome! In this post, we'll take a look at the federal real estate mortgage law. You can download the current version of the law for 2019, find out the latest changes, the history of the document, as well as expert commentary on the main articles.

For 84 years of the 20th century, there was no mortgage in Russia. From the very beginning of their regime, the authorities of the USSR deprived the population of the country of the right to private property. Mortgage under the new rules in Russia appeared only at the end of the 20th century. For its development to its current state, fundamental changes were required in the attitude of the state to property relations and housing construction. In addition, major legislative changes were required.

Only on the eve of 1991 did the first prerequisites for the revival of the mortgage institution in Russia appear. It was the law "On property", adopted in December 1990. Then, until 1993, laws on pledge and on the basics of housing policy were successively adopted. The main provisions are also enshrined in the Civil Code. Mortgage of real estate began to be remembered more and more often.

By the end of 1994, these laws allowed dozens of banks to establish a system for issuing mortgage loans. At the same time, this business was poorly controlled by a meager set of regulatory framework in this area, which did not allow mortgages to reach a high level of development and transparency. A fundamentally new and powerful federal law was required.

It was adopted on July 16, 1998, a month before the severe crisis of the Russian economy. 102 FZ for mortgages has become a kind of bible, which, together with the civil code, made it what it is now.

Recent changes and the current version of the law

For almost 20 years, the mortgage law has been subject to numerous adjustments related to the development of mortgages and changes in other regulatory documents. The current version is dated July 03, 2016 with changes dated July 1, 2017.

The most important events in the mortgage market in 2016 that influenced mortgage legislation were:

1. Legislative limitation of the amount of the penalty for late repayment of the loan (should not exceed the key rate of the Central Bank on the date of conclusion of the loan agreement).

A few words about the key rate of the Central Bank. In simple terms, this is the interest rate at which banks take short-term loans (1 week) and open deposits with the Central Bank of the same duration. From May 2, 2017, the rate is 9.25%.

1. Mandatory notarial certification of transactions with real estate, which is in shared ownership.

That is, now in order to sell an apartment divided into shares, it is not enough to conclude a sales contract in a simple written form. It is necessary to visit a notary and draw up a transaction in its form. Accordingly, the cost of registration has increased significantly.

1. Changing the procedure for calculating tax on the sale of an apartment. Since 01/01/2016, the period of ownership of real estate has increased, after which the owner is exempt from paying sales tax, from 3 to 5 years. In addition, now the amount of tax is calculated from the cadastral value or from the value specified in the contract of sale, whichever is greater. That is, transactions with an undervaluation in the contract have lost their meaning, since the cadastral value is approximately equal to the market value.

There is also good news. If the ownership right was registered before 01/01/2016, the period remains the same - 3 years.

Example. Citizen Ivanov purchased an apartment worth 3,000,000 rubles. in April 2016. In May 2017, he sold it. The cadastral value is 3,000,000 rubles, under the purchase / sale agreement - 1,000,000 rubles. The tax will be calculated based on the cadastral value in the amount of 2,000,000 rubles. (minus the tax deduction of 1 million) and will be equal to 260,000 rubles.

1. Another good news for borrowers under the Military Mortgage program. Now information on such agreements will not be taken into account in the credit history of a serviceman. In fact, he himself does not pay the loan. The state does it for him.
2. Since July 2016, the law provides for the right to pledge parking spaces.

General provisions

The main provisions of the Law on Mortgage fix the definition of a mortgage, the basis for its occurrence, a description of the requirements for pledge and property that can be pledged.

The pledge must necessarily be secured by an agreement in which there are two parties: the pledger (the owner of the object) and the pledge holder (creditor). Moreover, the owner may not be related to the loan at all, but only provide it with his property.

The mortgage itself is established not only under a loan agreement. It could be:

• loan agreement,
• lease contract,
• work agreement,
• obligation based on a contract of sale and so on.

That is, any obligations, if they are not covered by the order of security determined by another law, may be the subject of a mortgage.

The contract establishes a complete list of obligations that are covered by the pledge. If something goes against the agreements, the pledgee is also entitled to receive compensation for losses, interest for the illegal use of his funds, as well as legal costs and expenses for the sale of the pledged property, provided that otherwise is not specified in the agreement. That is why it is so important to correctly compose this document.

The following property may be pledged:

• land plots, but not all (exceptions are described in article 63 of the law);
• property used for business;
• residential buildings (including parts consisting of isolated rooms);
• dachas, garden houses, bathhouses, garages and other consumer buildings;
• ships (air, sea, river) and even space objects;
• car place.

The basic principle that applies to collateral is indivisibility. That is, a part of the property that cannot be used for its intended purpose on its own, after division in kind, is not accepted as a pledge. Simply put, you can not lay only the engines of the aircraft, or only the roof of the house.

Also, an important point is that a residential building on a land plot can only be accepted as a pledge together with the land. If the land is leased, then the right to lease is pledged. At the same time, if the term of the contract with the landlord is more than 5 years, the permission of the owner will not even be required.

mortgage agreement

The general rules for concluding all civil law contracts in Russia are enshrined in the Civil Code. The Mortgage Law introduces additional requirements that must be met.

The following information must be included in the contract:

• subject of mortgage and its assessment;
• essence, volume and term of fulfillment of obligations.

The subject of the pledge must be described in detail so that it can be accurately identified. The contract contains the name of the object, description and location. At the same time, the same rules apply to the leased property, additionally indicate the lease term.

If necessary, the parties may include in the agreement the procedure for the sale of collateral in the event of debt collection in court or describe options for settlement in the pre-trial period.

When it comes to a loan mortgage agreement with an individual who purchases real estate not intended for entrepreneurial activities, the rules described in the Law “On Consumer Credit” apply to him. That is, the following conditions must be met:

1. The contract indicates the full cost of the loan, and always on the first page.
2. The lender is prohibited from charging the borrower for the actions that are assigned to him by law and which he does in his own interests (all kinds of commissions for issuing a loan and other payments not related to a mortgage).
3. The conditions and procedure for issuing a loan should be placed in the public domain for review (including on the Internet).
4. The borrower must be given a payment schedule.

Mortgage

A mortgage bond is a registered security that secures the right of the pledgee to claim the pledger for the fulfillment of obligations and the right to pledge property. The law does not contain a mandatory requirement for its presence in order to conclude a mortgage agreement. She may not be.

The document is drawn up either by the pledgor or, if the property belongs to a third party, by both of them.

The law clearly describes the list of information that must be reflected in the mortgage, as well as the obligation to register the paper with a government agency (for example, Rosreestr). If at least one of the points listed below is not observed, the mortgage bond cannot be referred to as such:

1. The title of the document must contain the word "Bill".
2. For individuals - the name of the pledgor, the details of the identity document. For legal entities - the name of the organization and location.
3. For the pledgee, the same details as in paragraph 2.
4. The same details of the debtor, if he is not a pledgor.
5. Date and place of conclusion of the agreement, as well as the grounds for the occurrence of obligations (for example, the number of the loan agreement).
6. The amount of obligations and interest, as well as the period of their execution.
7. Name, description and location of the subject of pledge.
8. A confirmed appraised value of the property.
9. Mark of the state registration of the mortgage.
10. Indication of the presence / absence of encumbrance of property by the rights of third parties.
11. Signature of the pledgor and the debtor (if they are not the same person).
12. Indicate the date of transfer of the mortgage to the lender.

The mortgage bond may be assigned to a third party. Then the requirements of the new pledgee will be based only on the information reflected in the paper.

A lost mortgage can be restored by making a duplicate, about which a corresponding mark is made on it.

Upon repayment of obligations to the creditor, the mortgage is returned to the pledgor, who then removes the encumbrance from the property in the state body.

Mortgage registration

Mortgage by virtue of law must be registered with Rosreestr. In addition to the Law “On Mortgage”, this process is regulated by Law No. 218-FZ “On State Registration of Real Estate”.

State registration formally consists of a record of the transaction in the Unified State Register of Real Estate.

The basis for registering a transaction is a joint application of the pledgor and the pledgee, or on the basis of an application by a notary who certified the agreement.

Registration of a mortgage by virtue of law is carried out with the simultaneous registration of the property right of the person whose rights are encumbered. If available, a mortgage is registered.

Preservation of mortgage property

The fundamental point is that the pledge of property does not give the creditor the opportunity to limit the right of the pledger to use this property for its intended purpose. He also has the right to benefit from the pledge, while the creditor cannot claim this income.

At the same time, the mortgagor is obliged to maintain the property in good condition and, if necessary, carry out repairs at his own expense, unless otherwise specified in the contract.

Disputes often arise as to the legitimacy of the creditor's requirement to insure the pledged property against damage, damage or loss. The law states that such insurance may be provided for by the terms of the loan agreement. As a rule, property is insured at the expense of the mortgagor.

In addition, the owner is obliged to take all available measures to keep the property safe and sound and notify the pledgee if there is a real threat of losing the pledge.

Subsequent mortgage

A subsequent mortgage is a re-mortgage of an already mortgaged property. This may be a pledge to the same creditor (for other obligations), or to others.

It is important to comply with the terms of the original mortgage agreement. If it expressly prohibits a subsequent mortgage (and most residential mortgages do), then the transaction will be void, whether or not the potential mortgagee knew about it.

There are also cases when the contract specifies the requirements for registration of a subsequent mortgage. In this case, a new contract must be concluded in compliance with these conditions.

Otherwise, the subsequent mortgage differs little from the current one. Particular attention should be paid only to the order of collection. Here one should be guided by the rule of priority rights of claim, in accordance with which the repayment of obligations is carried out in turn, starting with the first creditor. So the last creditor may not have enough money from the sale of property.

Assignment

The mortgagee has the right, at his discretion, to transfer the right to claim the fulfillment of obligations under the mortgage to any third party. For example, if a bank wants to assign a pledge to a third-party organization, it does not have to be licensed to provide mortgage lending.

In this case, the person to whom the right under the mortgage has passed also acquires the rights under the obligation secured by the pledge. That is, this person takes the place of the original creditor.

The transfer of a mortgage bond is accomplished by concluding an agreement in a simple written form. An appropriate entry about the new pledgee must be made on the security.

Interestingly, the law expressly prohibits making notes on the mortgage on the prohibition of transferring it to third parties. Such a record is a priori null and void.

collection

If the debtor fails to repay its obligations in time and in full, thereby violating the terms of the concluded agreement, the creditor has the right to start enforcement of the debt.

There are two paths for the development of events:

• trial;
• extrajudicial recovery.

If the mortgage agreement does not provide for the possibility of out-of-court debt settlement (introduced by Article 55 of the law) by collecting the pledged property, such collection is possible only by a court decision.

There are two cases in which extrajudicial collection is not possible:

1. The period during which the debt is not repaid (arrears) does not exceed 3 months.
2. The balance of the debt is less than 5% of the debt.

In practice, debt collection by banks through the sale of pledged property occurs only in extreme cases, when other methods do not bring the desired result. However, one should not forget that the law in such cases, as a rule, is on the side of the creditor, since the mortgage agreement is violated by the debtor. Therefore, if it still comes to extreme measures, it is possible to sell the pledged property to pay off the debt.

Sale of property

Debtors' property is sold by putting it up for public auction in the form of an auction. Its organization and holding are not regulated within the framework of this law. Procedural legislation and the Civil Code are responsible for this.

In general terms, the auction is conducted as follows. Not earlier than 30, but not later than 10 days before the auction, an announcement is placed in the official newspaper with information about when, where and what will be put up for auction.

Those wishing to participate must make a deposit in the amount not exceeding 5% of the initial sale price of the object. The winner is the one who offered the highest price. The rest of the deposit is returned immediately.

On the day of the auction, a protocol is signed with the winner. The decision is valid for 5 days, during which the buyer pays the balance of the value of the property, after which, again, within 5 days, a contract of sale is concluded with him.

The out-of-court sale of property takes place in a similar way, with the only difference being that the auction is organized by an authorized person on behalf of the pledgee. The proceeds from the sale are distributed among all pledgees, and the remainder is returned to the pledger.

The law also states that the creditor can keep the property for himself, if this is mentioned in the contract. The debtor may at any time, before the auction is declared closed, stop the collection by paying off the debt.

Bidding may be recognized as failed if only one buyer appeared at them, the initial amount was not increased or the winner did not pay for the property. By the way, the Civil Code provides for liability for the latter, which is expressed in compensation for losses.

Features of a mortgage on land

Mortgage of land plots is possible if the turnover of such objects is not limited by law or if its size exceeds the minimum value established by regulatory enactments for plots of this kind and purpose.

Land plots that are in municipal ownership may be given as collateral. But there are conditions:

• the site must be allocated for individual housing construction within the framework of social programs;
• the mortgage must be related to obtaining a loan for the development of this site;
• the decision on the possibility of collateral is taken by the municipal authority.

The land plot acquired at the expense of credit funds is pledged from the moment of registration of ownership. If the owner wants to build any buildings or structures on the land, he does not need to ask the permission of the mortgagee. Only if it does not contradict the contract, these buildings will also become the subject of a pledge. This is exactly the moment when the principle of indivisibility works, that is, buildings cannot exist separately from the site, respectively, they are also included in the pledge.

Let's consider another case. For example, citizen X owns a land plot purchased with personal funds and without encumbrances. One day, he decided to build a residential building on this site using a mortgage loan. The bank issued the money and from that moment took the plot as collateral. And then, after building the house and registering the rights to it, he will also take the house as a pledge. The same principle of indivisibility. Only in this case, the lender initially took the land as collateral, since the housing has not yet been built, and the loan must be secured with something.

Foreclosure on land also takes place through open auctions. An important feature is the sale of agricultural land. As long as the crop is not harvested and sold, these lands cannot be foreclosed.

Mortgage for non-residential premises

Mortgage of non-residential premises has a number of features, which are described in the relevant section of the law.

Thus, an enterprise as a single property complex is mortgaged with all the property located on the territory, including the land plot.

A detached non-residential premises is pledged in full, together with the land plot.

At the same time, the pledgee may in no way impede or restrict the right of the pledger to use the property. The only exceptions are transactions with the alienation of real estate and its transfer as collateral.

An enterprise can be pledged only if the amount of debt obligations is at least half of the assessed value of the property. The deadline for submitting claims for collection of collateral is at least one year from the date of conclusion of the contract.

Suppose enterprise N is mortgaged to bank Y under a loan agreement for a period of 9 months. If the company does not repay the debt, the bank still cannot start the recovery procedure earlier than 12 months from the date of signing the document.

By the way, it is possible to collect a debt from an enterprise on a mortgage only by a court decision.

Mortgage of houses and apartments

When transferring them to a mortgage, special requirements are also imposed on residential houses and apartments, since they can be the place of residence not only of the mortgagor.

It should be noted right away that the mortgage of residential premises that are in municipal ownership is not allowed. For the rest of the objects there are a number of features:

1. When alienating property in which minor children are registered, permission from the guardianship authorities is required.
2. During the construction of a residential building, a mortgage can be provided with materials and equipment, but after construction, a finished house is transferred as a pledge.
3. According to article 77 of the law, a dwelling that is bought for credit money is pledged from the moment of registration of property rights.
4. With the "Military mortgage" housing is pledged to the lender and the state body, which makes payments to repay the loan.

By the way, recently the Federation Council adopted amendments to the law “On the savings and mortgage system”, according to which money is charged for the “Military mortgage”. Now more categories of military personnel have the right to restore their account after re-enlisting.

The most important point in this section is the item on foreclosure on housing. This fact is the basis for the eviction of tenants. It is carried out in accordance with the requirements of the law. This point is described in detail in Art. 78.

As you can see, this federal law gives a fairly clear idea of ​​mortgages. This is an effective tool that regulates the mortgage transactions market in Russia. What is important is that this is a living document that, although not always at lightning speed, reacts to changes in the current situation and allows the development of housing construction in the country.

Whatever we think about mortgages, getting a mortgage is getting easier every year. A considerable merit in this belongs to the mortgage legislation. you can find out more.

If you need qualified assistance from a mortgage lawyer, protection of your interests before a bank or other half during a divorce, we recommend that you sign up for a free consultation with our lawyer. He will provide professional assistance and suggest an effective way out of your situation.

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In order to familiarize yourself with the latest changes in mortgage lending, you should carefully study the law on mortgages, the current version of which in 2019 contains some innovations.

Now we will consider all the nuances that relate to this regulatory document, also from the article you can learn some of the subtleties of the mortgage lending process.

Any activity in our country is regulated by laws. Mortgage is no exception - for those who plan to apply for a mortgage loan for the purchase of housing, first of all, you should familiarize yourself with Law 102 - FZ.

Summary mortgage law looks like this:

• The first chapter defines the main provisions of the law relating to the object of pledge, as well as the obligations of the parties to the mortgage registration process.
• In the next three chapters ( 2 to 4) of the law is described content of the mortgage agreement and mortgage. It also outlines the requirements for state registration of a mortgage agreement.
• Fifth and sixth chapters define the possibility of transferring the right to collateral mortgages to third parties.
• 7 and 8 chapters law devoted to the assignment of duties mortgage and mortgage.
• The next two chapters describe fines and sanctions provided for non-compliance with the conditions of mortgage lending.
• Mortgage features for different types of real estate are described in chapters 11 to 13.
• The final information on the law 102-FZ on mortgage is in its last 14th chapter.

According to this law, banks are engaged in mortgage lending.

The entire legislative base of the country, with the slightest change in the political or economic sphere, is very often revised. The latest version of Law 102 FZ on mortgage (mortgage of real estate) was adopted in 2015, but before that, 16 of its bills had seen the light of day.

The latest edition of the Federal Law "On Mortgage".

Much of this piece of legislation is written in dry legal language, so we will try to convey to ordinary citizens what the law is about.

The main tenets of the mortgage law

Federal Law 102 FZ gives a clear definition of the concept of "Mortgage": this is the right of the lender to receive from the borrower a refund of his funds, for which the mortgage was issued.

The right to use the mortgaged real estate, along with this, remains with the pledger.

Mortgage-backed requirements specified in the law

This section of federal law very often spelled out in bank mortgage agreements, in the part where the amounts of compensation are determined:

1. When applying for debt collection, the mortgagee can count on the main part of the debt up-to-date at the time of application.
2. Compensation of accrued interest for servicing a loan, according to the loan agreement.
3. Payment of fines and penalties resulting from non-compliance with the terms of the contract.
4. Compensation for litigation costs.
5. Compensation for expenses related to the sale of collateral real estate.

Mortgage debt collection scheme.

Section of the lien law

This part of the law regulates the pledge and defines what can be attributed to it.

According to this provision Mortgages can be secured by:

• Residential real estate, that is houses and apartments.
• Land.
• Industrial real estate.
• Summer cottages with and without buildings.
• Vehicles.
• Garages.
• Property under construction.
• Lease right.
• Equity participation in housing construction.