TEMPORARILY ESTABLISHES A STAMP AND STAMP DUTY EXEMPTION, DISCOUNTS ON THE PAYMENT OF RIGHTS IN THE RESCHEDULING OF MORTGAGE DEBTS AND MODIFIES TAX RULES THAT INDICATES Having regard to the fact that the National Congress has given its approval of the following bill: " Article 1.-The documents or instruments mentioned in Article 1 (3) of Decree Law No. 3,475 of 1980, which are signed on the occasion of the granting of mortgage loans to natural persons, intended to pay for another earlier credit of the same type, which it would have been intended to purchase, building or expanding a dwelling, shall be released from the tax set out in the standard indicated up to the equivalent of 36 promotion units, according to the value of the unit's validity on the day on which they are subscribed or grant the respective documents; for the set of mortgage loans granted during the period referred to in Article 3, provided that the following conditions are met in a copulative manner: a) That by the original credit the maximum amount of the tax set out in Article 1 (3) of the decree law was paid or otherwise covered by the exemption provided for in Article 3 of Decree Law No 2,552 of 1979. (b) the amount of the new credit is equivalent to the balance due from the previous credit that is paid with the new credit; adding the interest that is capitalised as a result of the advance payment, appraisals and other expenses related to such payment, including this same type of expenditure charged by the new entity that grants the credit where appropriate. c) That in the public deed that account of the new credit with mortgage guarantee is made express mention that the credit is intended to pay an earlier credit, individualizing the acquired property with the credit that is paid. d) That if the new credit is granted by an entity other than that which granted the credit that is paid, in addition it must be fulfilled with the above letter, insert a certificate of the original credit grantor, which will be forced to issue it. In such a certificate it must be expressed, that the credit is paid with a credit given by another financial institution, duly identifying it. A certificate must also be inserted from the person responsible for the stamp duty and stamp duty due on the credit that is paid in advance, which will be obliged to grant it; it will indicate that the tax In the case of the Court of Law, the Court held that the Court held that the Court held that the Court held that the Court held that the Court of The granting entity of the new credit, in turn, must declare, in the respective deed, the amount actually paid to the entity that granted the original credit, identifying the means of payment. (e) The mortgage guarantee that the new credit guarantees must be borne by the same root as the mortgage that provided the original credit. The exemption provided for in this Article shall also apply to documents which are issued or subscribed in relation to the link credit which is granted while the final mortgage operation is perfected, even if not of this nature, provided that in the document which accounts for that credit, it is indicated that it is granted in respect of a mortgage credit intended to extinguish an earlier one which has been used to acquire a dwelling, with due regard to the root good. In the event that a claim has been granted in the previous cases, more than one person to acquire, construct or extend the same dwelling, may benefit from the exemption provided for in this law, by the new credits which are grant to pay the previous credit, all debtors. In that case, the limit of the exemption set out in the first subparagraph shall apply for each debtor who obtains a new credit to pay the former. For the granting of the respective scriptures, for the inscriptions, annotations, alzations and cancellations to be practiced, and for the certificates and copies to be delivered, the public notaries and the real estate conservatives, respectively, may not charge a sum of more than 50% of the quantity fixed for the action in the current tariff. Real estate conservatives may only charge 25% of the surcharge and 25% of the increase referred to in the second and third points of Article 1 (1) (a) of the tariff set out in Decree No. 588, exempt, of 1998, from the Ministry of Agriculture. The Commission However, the above limits will only apply up to an amount equivalent to 3,000 units of promotion, depending on the value of this unit to the date on which the documents are granted or entered, and the total amount may be charged for the excess of the rights which come under the respective tariff. The mortgage debtors referred to in the first subparagraph, which are affected by the benefit established in Law No 19,622, shall maintain that benefit, and shall be kept on record in that account of the new credit that is ampara in that law, according to the provisions of this article. Article 2.-The reprogramming of mortgage loans to be carried out pursuant to Article 1 of this Law, the purpose of which is to write down additional credits for the housing allowance, shall maintain the State guarantee referred to in the Article 28 of the Supreme Decree No. 44 of 1988 of the Ministry of Housing and Urbanism. Article 3.-The tax exemption and the reduction of duties provided for in this law shall apply in respect of documents issued, subscribed or granted in respect of the granting of the credits referred to in the first article and which are to pay mortgage obligations in force or delinquent on the date of publication of this law, provided that such documents are issued, subscribed or awarded within twelve months of that date. Article 4.-Substitute in Article 40 of Decree Law No. 825, 1974, to count from July 1, 2001, "50%" by "15%". Article 5.-Substitute, to count from January 1, 2002, in the second paragraph of No. 4 of the single article of Law No. 18,320, the expression "twenty-four" for "thirty-six". Article 6.-From 1 July 2001 to 31 December 2002, suspend the application of the rule introduced in the first indent of Article 23 of Decree Law No 825 of 1974 by the first subparagraph of Article 23 (b) of the Article 5th of Law No. 19,738. " And because I have had to approve and sanction it; therefore, promulgate and take effect as the Law of the Republic. Santiago, July 24, 2001.-RICARDO LAGOS ESCOBAR, President of the Republic.-Nicolas Eyzaguirre Guzmán, Minister of Finance. What I transcribe to you for your knowledge.-Salutes intently to Ud., Maria Eugenia Wagner Brizzi, Undersecretary of Finance.