Ukrainians will be able to sell profitable assets

01.05.2014 00:00
Articles about real estate |  Ukrainians will be able to sell profitable assets Remuneration for services to the auction organizer on sale of seized property (including costs associated with the organization and conduct of the sale of property) may not exceed 6% of the value of the seized property. This is stated in the changes in the order of realization of seized assets , approved by the Ministry of Justice number 681/5 .

The costs associated with the organization and conduct of the sale of property shall not exceed 5 % of the value of the seized property ( with their respective confirmation ) . Remuneration to the auction organizer after deducting expenses related to the organization and conduct of the sale of property is 1 % but not more than 2,000 non-taxable minimum incomes of citizens for each lot (34 ths.) .

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Debtors overpaid

Property arrests occur in the course of a variety of litigation ( from divorce proceedings to property claims ) , but more often on the initiative of creditors. Banks charge a pledge on problem loans : usually flats, land and vehicles . After winning a claim in court , bail defaulter evaluated and put up for auction .

The procedure is simple , but costly : the property is sold by an authorized ( them today two ) at a public auction , after which the bank takes put him under a credit agreement ( the outstanding balance subject to fines and penalties ) . And all that remains after that is returned to the debtor . That is, if the borrower's housing sold for $ 100 thousand, and he owes the bank only $ 20 thousand, after selling apartments in theory it should return $ 80 thousand

In practice, much less returned : from $ 80 thousand were deducted compulsory payments and fabulous Commission authorized companies - Ministry of Justice to order number 681/5 of their size reached 15 % of the value of real estate or cars.

And taking into account the undervaluation of collateral in the sale (according to bankers immediately lose 35% to 50 % of the cost ) and payment of 10% of the executive collection, man could do nothing . Sometimes the situation was even worse : the proceeds from the sale of collateral assets was not enough to repay credit debt to the bank . Then the financial institution began to otsuzhivat a person other his property (it is allowed by law) .

" Moreover, if the executive collection comes to the State Budget of Ukraine , the commission for the sale of collateral was redistributed in favor of private companies , which are specialized trade organizations , - commented on the situation in the Independent Association of Banks. - The market was actually monopolized , as it worked in different periods of only two to four specialized trade organizations defined by Ministry of Justice . " Now this problem is resolved.
Content tags: Property Legislation
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