Article 9-1. Amendment of the terms of the mortgage agreement of the Law on Mortgage of Real Estate

Home / Laws / Article 9-1. Amendment of the terms of the mortgage agreement of the Law on Mortgage of Real Estate

A change in the terms of the main obligation and (or) the mortgage agreement shall be formalized by concluding by the pledgor and the pledgee (other persons who have signed the basic obligation agreement and the mortgage agreement) an additional agreement to the basic obligation agreement and to the mortgage agreement, with the exception of the cases provided for in part two of this Article, paragraph 2 of Article 59, subparagraph 2) paragraph 3 of Article 97, subparagraph 11) of paragraph 1 of Article 132 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan", paragraph 2 of Article 3-3 of the Law of the Republic of Kazakhstan "On Microfinance Activities", part two of paragraph 2 of Article 6-1 of the Law of the Republic of Kazakhstan "On Collection Activities", as well as in part two of paragraph 3 of Article 51-3 of the Law of the Republic of Kazakhstan "On the National Bank of the Republic of Kazakhstan".

The terms of the basic obligation agreement and the mortgage agreement may be changed unilaterally by a bank or an organization engaged in certain types of banking operations, in the case provided for in subparagraph 5) of the second part of paragraph 6 of Article 57 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan", in order to implement a Program for refinancing residential mortgage loans (mortgage loans), approved by the National Bank of the Republic of Kazakhstan.

If there is a mortgage certificate, a change in the terms of the main obligation and (or) the mortgage agreement, involving a change in its content, is the basis for making changes and (or) additions to the mortgage certificate in accordance with the procedure provided for in Article 13-1 of this Law.

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

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Republic of Kazakhstan

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