ID :
365353
Tue, 04/28/2015 - 15:19
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Draft amendment law on adjudication of civil cases to be submitted

Ulaanbaatar /MONTSAME/ At its meeting on Monday, the cabinet decided to submit to parliament a draft amendment to the law on adjudication of civil cases. In accordance with the law on land ownership, the citizen of Mongolia has a right to pawn his/her lands to citizens, commercial banks or non-banking financial institutions (NBFI). In case of poor realization of the contract’s clauses, the pledge’s side accesses the three-round court which greatly reduces the NBFI’s willingness to give loans under the pledge of lands. The draft amendment aims to regulate such a situation, meaning that mutual regulations of the pledges will be ensured, separating them from a debate of functional performance, whereas the functional performance will be be fulfilled after the court issues an order to ensure the notice of notary. Additional clauses are also reflected in the amendment about mutually regulating the functional performance without a debate of land pledges by the law on pledging of immovable properties, which will be altered in connection with this amendment. In general, the amendment of the law on adjudication of civil cases aims to regulate conflicts of land pledges before they reach the court.

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