Under the new rules, as part of the bankruptcy case, it will be possible to conclude a separate settlement agreement with the lender in order to preserve the only mortgage housing
The Federation Council at a plenary meeting on Friday, August 2, approved a law that allows not to withdraw the only housing taken on a mortgage in case of bankruptcy of a citizen.
Amendments are being made to the law “On Insolvency (Bankruptcy)”. According to the adopted amendments, a citizen in the framework of his bankruptcy case will be allowed to conclude a settlement agreement with a mortgage lender or restructure the debt. At the same time, if the financial manager does not agree with this, his opinion is not taken into account. Also, the consent of other creditors is not required to conclude such an agreement. This will make it possible not to sell such housing at auction while maintaining the mortgage.
According to current legislation, it is possible to recover the only mortgage housing or the land plot on which it is located, provided that the loan obligations are not fulfilled, as a result of which delays accumulate.
The authors of the adopted law noted that situations often arise when the debtor has no overdue mortgage debt, but there are unpaid debts to other creditors. When considering personal bankruptcy cases, the borrower was deprived of his only home, even with proper fulfillment of mortgage obligations. Such judicial practice, according to the authors of the amendments, called into question the constitutional (state) guarantees in the field of housing provision for citizens. The document was approved by the State Duma at the end of July, now the law must be approved by the president.
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