Amendments and supplements have been introduced to certain legal documents by the law (UZL-1028, 12.02.2025). A Presidential decree has been issued in this regard.
The law introduces amendments and supplements related to the “On Mortgage”, “On the Securities Market”, “On Bankruptcy” laws, instituting electronic mortgage letters, the performance of obligations secured by such mortgage letters, the transfer of rights to another person, and other mechanisms for the use of these rights, as well as provisions on the rights to demand and the non-inclusion of the mortgage letter in the bankruptcy estate.
According to the supplement made to the “On Mortgage” law:
Amendments to the electronic mortgage letter are made through filling out an agreement (supplementary agreement) on amendments to the electronic mortgage letter by the legal owner of the mortgage letter and the mortgagor on the Unified Interactive State Services Portal;
The transfer of rights related to electronic mortgage letters is carried out by entering the relevant record in the deposit account. The rights related to the electronic mortgage transfer to the recipient from the moment the relevant record is entered into their deposit account and is confirmed by a copy from the deposit account.
The law will come into force from the date of its official publication.
