Assembly adopts Law on mortgage

Changes should lead to higher level of legal and economic security of participants in activities which comprise set up mortgage as well as tools for providing demands.

They will, as the Government of Serbia, believes, enable better position of creditors, protection of debtors, speeding up of financial and economic activity in the country and development of one of classical mechanisms of civil code.

Apart from other things, adopted amendments govern the issue of extra- judicial sale of mortgaged real estate which implies either auction public sale or sale through direct deal.

It was planned that real estate, before public call for auction is released, can be sold through direct deal but for value which cannot be lower than 90 percent of estimated value.