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Mortgage Refinancing System - Full Text Of The Norm


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image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
HIPOTECARIAN REFINANCIATION SYSTEM Law 26.497 Mortgage executions initiated against debtors included in the Trust for the Hypotective Refinancing created by Law 25.798. Sanctioned: April 15, 2009. Cast: May 5, 2009.

The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force of Law:

ARTICLE 1 Provision may be made for the payment system provided for in article 7 of Act No. 26,167 to those foreclosures initiated against debtors included in the Hypotec Refinancing Trust established by Act No. 25,798 and its amendments, whose creditor of origin was not a financial entity subject to the law of Act No. 21,526, which have a final and final decision in the authority of a matter of law

ARTICLE 2 In the cases referred to in the preceding article, the contributions of the Trustee for the Hypotective Refinancing may be extended, at the request of the debtor, to cover the total amount arising from the judgement that has been firm and passed in the authority of a judgement.

Article 3 . Period to opt for the regime. The judge, on his own motion or at the request of a party, regardless of the status of the execution process, shall grant the debtor a term of TREINTA (30) days for his option to cancel the resulting debt as provided for in the preceding articles, observing the procedure set out in article 7 of Law 26.167.

This deadline will begin to run from the day after the publication of the regulations of this in the Official Gazette.

ARTICLE 4 The trustee, in all cases where the debtor has to face the payment of fees, either by firm and past resolution in the authority of the judged thing or by agreement with firm judicial approval, shall cancel and consequently refinance the amount to the maximum tariff for the respective jurisdiction.

ARTICLE 5o The maximum period of refinancing may not exceed the DOSCIENTS TABLE (240) months. However, the enforcement authority may, at the request of the debtor, extend the time limit to THREAT SESENTS (360) months when exceptional circumstances occur that make the repayment of the debt impossible within the time limit of TREATMENTS (240) months. This provision must be interpreted restrictively.

Exceptional circumstances will be considered when the calculation of the monthly contribution that corresponds to the financing in TREATMENTS (240) months exceeds the limit of the monthly family income (40 per cent).

ARTICLE 6 Suspension of proceedings. For the purpose of complying with the special procedure established, please terminate from the entry into force of the present, the procedures for the execution of judicial decisions; judicial and extrajudicial auctions; evictions in any of its forms, approved or pending approval, and any other procedure aimed at the dismantling of property subject to executions referred to in article 1 of the present.

The suspension shall extend to the date of expiry of the period provided for in article 3, so that the debtor elects to refinance his debt in accordance with the provisions of this law.

ARTICLE 7 . Authorize the Ministry of Economy and Public Finance, in the use of the powers conferred in article 1 (g) of Decree 342 of April 18, 2000, to determine the amounts of the Trust Fund for the Reconstruction of Companies to be allocated to the Trust Fund for the Hypotective Refinancing for the Costs required by this measure.

ARTICLE 8 The national executive branch, through the Ministry of Economy and Public Finance, shall be the authority for the application and interpretation of this law, having the power to dictate the necessary complementary and/or clarification rules.

Article 9 This law will begin to govern from the day after its publication in the Official Gazette.

ARTICLE 10. Contact the national executive branch.



JULY C. C. COBOS. EDUARDO A. FELLNER. . Enrique Hidalgo. . Juan H. Estrada.