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of December 23, 1995 No. 2723

About mortgage of real estate

(as amended on 31-12-2021)

Chapter 1. General provisions

Article 1. Main terms and determinations

The terms and determinations applied in this Law mean:

1) the authorized representative - person who carries out realization of mortgage extrajudicially;

2) the pledger - person whose real estate or share in it are mortgage subject;

3) the pawnbroker - person whose interests on primary obligation are provided with mortgage;

4) mortgage of real estate (mortgage) - type of pledge in case of which the pledged real estate or share in it remain in ownership and use of the pledger or the third party;

4-1) mortgage organization - the legal entity whose exclusive type of activity are the activities provided by this Law;

5) the mortgage agreement - the agreement of the parties on establishment of mortgage in ensuring primary obligation;

5-1) mortgage loan - the bank loan provided with mortgage of real estate;

5-2) mortgage housing loan - the mortgage loan granted for the purpose of construction of the dwelling or its purchase and (or) repair;

6) real estate (real estate) - the parcels of land, and also buildings, constructions and other property firmly connected with the earth that is objects which movement without disproportionate damage to their appointment is impossible;

7) primary obligation - the debt or other obligation fully or partially provided with mortgage;

8) realization of mortgage - realization of the property which is mortgage subject;

8-1) authorized body for architecture, town planning and construction - the central state body performing management in the sphere of public administration of architectural, town-planning and construction activities;

9) authorized body - the state body performing state regulation, control and supervision of the financial market and the financial organizations.

Article 2. Scope of this Law

1. This Law governs the relations arising in case of application of mortgage of property as method of providing obligations. The general rules about pledge containing in the Civil code of the Republic of Kazakhstan are applied to property mortgage if this Law does not establish other rules. In case of contradiction between this Law and other legal acts regarding regulation of mortgage of property regulations of this Law are applied.

2. Rules of this Law on the mortgage arising owing to the agreement are respectively applied to the mortgage arising based on the legal act.

3. Features of mortgage of the parcels of land and rights to them can be provided by the land legislation.

4. The requirements for the mortgage organizations connected with receipt by them of the licenses for banking operations provided by this Law, and also regulation of their activities are established by regulatory legal acts of authorized body.

5. And other legal entities performing activities within the specific mode of regulation, regulation of this Law and regulatory legal acts of authorized body, National Bank of the Republic of Kazakhstan accepted according to this Law entered according to the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations" extend to the mortgage organizations in the limits provided by conditions of specific mode of regulation.

Article 3. Limits of ensuring primary obligation by mortgage

1. The mortgage provides payment to the pawnbroker of the main amount of debt under the agreement of mortgage loan or other obligation completely or in the part provided by the mortgage agreement.

If other is not provided by the agreement, the mortgage established in providing the agreement of mortgage loan provides also payment to the creditor of the remuneration (interest) for use of the credit which is due to it.

2. If other is not provided in the agreement, the mortgage provides requirements of the pawnbroker in that amount what they have by the time of their satisfaction, including:

1) indemnification, caused by non-execution, delay or other improper execution of primary obligation;

2) penalty (penalty, penalty fee) for non-execution, delay of execution or other improper execution of primary obligation;

3) penalty for unauthorized use by someone else's money, provided by primary obligation or legal acts.

3. The mortgage provides also:

1) compensation of the legal costs and other expenses caused by the address of collection on pledged property;

2) expense recovery on realization of mortgage.

4. If in the mortgage agreement the total firm amount of the requirements of the pawnbroker provided with mortgage is specified, obligations of the debtor to the pawnbroker in the part exceeding this amount are not considered provided with mortgage, except for requirements, stipulated in Item 3 these Articles and article 4 of this Law.

Article 4. Providing pawnbroker with mortgage of additional expenses

In cases when the pawnbroker in accordance with the terms of the mortgage agreement or owing to need to provide preserving the pledged real estate is forced to incur expenses on its content and protection or on debt repayment of the pledger on the taxes connected with this real estate, charges or utility payments, compensation is provided to the pawnbroker of such necessary expenses at the expense of the pledged real estate.

Article 5. Mortgage of the real estate which is in common property

1. On the real estate which is in common joint property, the mortgage can be established in the presence of the written consent to it of all owners.

2. The participant of common ownership can pledge the share in the right to common property without the consent of other owners.

Chapter 1-1. Mortgage organization


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