Decree No. 2 of the State Committee on Land Resources, Geodesy and Cartography validating the Regulation on transfer in mortgage of lease right in case of mortgage of constructions and edifices by legal persons.

This Decree regulates transfer in mortgage of lease right in case of mortgage of constructions and edifices by legal persons. Mortgage of construction or edifice and mortgaged of the right of lease of the plot of land shall be carried out by one mortgage contract by consent of the lessor of the plot of land. Transfer shall be carried out in accordance with the following modalities: (a) consent of lessor to transfer lease right; (b) drawing up mortgage contract and notarized certification thereof; (c) registration of mortgage of the right of lease at state land cadastre; and (d) state registration of mortgage of the right of lease by the authorized registration body.