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Messenger Recognition of a Mortgage Agreement as Invalid — Lawyer Services
A mortgage is one form of pledge of immovable property whereby the debtor may possess and use the pledged property. It may arise on the basis of an agreement, a court decision or law. Moreover, mortgages arising on the basis of a court decision or law are subject to the rules legally established for mortgages arising on the basis of an agreement.
List of documents required to remove the mortgage:
- Application for state registration of rights and their encumbrances.
- Receipts for payment of 120 + 51 UAH.
- Notification letter about debt repayment (Bank).
- Extract from the EDRPOU (Bank).
- Power of attorney from the bank for the authorized person.
- Powers of the signatory of the Bank’s notification letter.
- Charter of the Bank (copy).
- Passport and Tax ID (of the authorized person).
- Copy of the mortgage agreement (stamped by the bank).
- Copy of the loan agreement (stamped by the bank).
The mortgage agreement must be notarized.
If the debtor fails to fulfill obligations under the agreement, the rights to the mortgaged property pass to the mortgagee. Enforcement of the mortgaged property occurs on the basis of a court decision, the notary’s enforcement inscription or a agreement on satisfaction of the mortgagee’s claims.
According to Ukrainian law, ownership rights to real estate arise only after state registration. In order to assume the rights of a mortgagee, the title-establishing document must be registered in the State Register of Property Rights. Such a document may also be an agreement on satisfaction of claims, which provides for the transfer of ownership of real estate to the mortgagee in the event of the debtor’s failure to fulfill his obligation. If the mortgage agreement contains a corresponding clause on satisfaction of the mortgagee’s claims, then the mortgage agreement itself serves as the title-establishing document.
An inventory of the real estate object is a mandatory requirement before registering these agreements.
When registering a mortgage agreement or an agreement on the satisfaction of claims, the following documents are submitted:
- The original mortgage agreement and its copy, certified by a notary.
- The original agreement on satisfaction of claims (if the mortgage agreement does not contain the corresponding clause) and its copy, certified by a notary.
- A copy of the demand sent to the debtor for performance of the obligation.
- A document confirming the debtor’s failure to perform the obligation within thirty days after receiving the written demand.
- Valuation of the pledged property.
- Technical passport of the pledged property with a note on the current inventory.
- Certified extracts from the State Register of Mortgages, from the Unified Register of Prohibitions on Alienation of Real Estate.
- If the mortgagee is a legal entity, it provides the certificate of state registration and a certificate from statistics.
- If the mortgagee is an individual, they provide a passport and an identification code.
