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Ukraine's parliament adopted law about hypothecation
On Thursday, June 5, Verkhvna Rada adopted a law about hypothecation, permitting to put in pawn tracks of agricultural land. The law was favourably voted by 307 deputies out of 430 registered in the hall.
According to the law, sales of the hypothecated tracks of land are to take place at auction trades. Hypothecation does not apply to the plots, which are in the communal or state property, until the decision of their privatisation is made. In case of hypothecation of a land plot, the mortgage also applies to the objects of unfinished construction, placed on that plot.