Certificate on amendments to the Federal Law of July 16, 1998 No. 102-ФЗ “On Mortgage (Real Estate Pledge)”
The Federal Law was adopted, which amended Federal Law No. 102-FZ of July 16, 1998, On the Mortgage (Real Estate Pledge). This Federal Law establishes the peculiarities of pledge of land plots from agricultural land.
According to the Federal Law, when applying for a pledged land plot from agricultural land, the seasonality of agricultural production and its dependence on natural and climatic conditions, as well as the possibility of obtaining incomes by the agricultural producer using such land plot at the end of the relevant period of agricultural work will be taken into account.
It also establishes that the collateral value of a land plot of agricultural land by agreement of the mortgagor with the mortgagee can be determined on the basis of its cadastral value without an assessment of the market value of such a land plot.