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Where there is no law, but every man does what is right in his own eyes, there is the least of real liberty
Henry M. Robert

Government Proposes Allowing Use of Land and Long-Term Leases as Collateral

13 November, 2012 - 00:00

Ukraine’s Cabinet of Ministers submitted to Parliament its draft changes to the law on collateral to allow privately owned land and long lease rights to be used as collateral. According to the draft, in case of default, the holder of a collateral has the right to be compensated by the cost of the land plot together with the immovable property located on it, or by the cost of long-term lease rights. In this case, the land and lease rights could be sold via auctions.

 

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