Article 12. The concept of a mortgage certificate Chapter 3. Mortgage Certificate of the Real Estate Mortgage Act

Home / RLA / Article 12. The concept of a mortgage certificate Chapter 3. Mortgage Certificate of the Real Estate Mortgage Act

1. A mortgage certificate is an order security certifying the right of its rightful owner.:

1) to receive fulfillment of the main obligation;

2) to foreclose on mortgaged immovable property in order to obtain fulfillment of the main obligation.

2. The mortgage certificate shall be drawn up in one copy and handed over to the mortgagee. The mortgage certificate can be supplemented with an appendix, which is issued in the form of additional sheets, which are an integral part of it.

3. A note on the issuance of a mortgage certificate is made on all copies of the mortgage agreement.

4. It is not allowed to draw up more than one mortgage certificate in respect of the same immovable property that is the subject of a mortgage on a residential mortgage loan, or part of it. <*>

The Law of the Republic of Kazakhstan dated December 23, 1995.

President

Republic of Kazakhstan

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