Our comment on financing by loan provision secured by real estate and other property has been published on the leading Belarus financial portal Myfin.by.
“The pledge secures repayment of both principal debt, i.e. loan amount itself, and interest, penalties and other claims of the lender (a person who issues loan). All this is stipulated by the pledge (mortgage) agreement. I would like to note that Belarusian legislation does not establish a mandatory notarial form for either a loan agreement or a pledge agreement. Howeevr, if one of the parties to a mortgage agreement is an individual, then such a mortgage agreement shallt be certified by a registrar of the cadastral agency or a notary.”
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