of February 12, 2025 No. ZRU-1028
About modification and amendments in some legal acts of the Republic of Uzbekistan in connection with further market development of mortgage lending
Accepted by Legislative house on September 10, 2024
Approved by the Senate on December 19, 2024
In recent years in the country consecutive measures for satisfaction of demand of the population for housing, improvement of living conditions of citizens in regions and to market development of mortgage lending are implemented.
At the same time for the purpose of increase in availability to general population of the mortgage loans based on the market principles there is need of enhancement of processes of registration of the rights under the agreement of pledge and the mortgage, their registration and transfer to the third parties.
This Law makes changes and additions to the laws of the Republic of Uzbekistan "About mortgage", "About the security market" and "About insolvency", providing implementation in the mortgage relations of the electronic mortgage, obligation fulfillment, provided to such mortgage, assignment of rights on it and determination of other mechanisms of its use, and also non-inclusion in the liquidating mass of right to claim and the mortgage.
This Law will serve further development of turnover of mortgages in mortgage, creation of new opportunities for refinancing of the mortgage loans issued to the population, forming of modern market system of mortgage lending.
Article 1. Bring in the Law of the Republic of Uzbekistan of October 4, 2006 No. ZRU-58 "About mortgage" (Sheets of chambers of Oliy Majlis of the Republic of Uzbekistan, 2006, No. 10, Art. 535; 2010, No. 9, Art. of the Art. 337, 340; 2015, No. 8, Art. 312; 2017, No. 10, Art. 605; 2018, No. 1, Art. 4, No. 4, Art. 224; 2019, No. 10, Art. 671; 2020, No. 1, Art. 3; 2021, appendix to No. 4; 2022, No. 6, Art. of the Art. 570, 577; 2023, No. 10, Art. 795) following changes and amendments:
1) in Article 14:
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