About Mortgage

Original Language Title: О залоге

Read the untranslated law here: http://pravo.gov.ru/proxy/ips/?doc_itself=&infostr=x&backlink=1&fulltext=1&nd=102016428

Lost effect with July 1, 2014 year-federal law 21.12.2013 N 367-FZ z and c o n RUSSIAN FEDERATION pledge (as amended by the federal laws on 26.07.2006 N 129-FZ;
from 19.07.2007 N 197-FZ; from 30.12.2008 N 306-FZ;
from 21 N 327-FZ; from 06.12.2011 N 405-FZ) section I General provisions Article 1. The notion of collateral Pledge is a way of ensuring commitments by which a lender-mortgagee acquires the right in the event of default by the debtor of the obligation to obtain satisfaction through the pledged property preferentially before other creditors for the exceptions provided for by law.
Article 2. The legislation of the Russian Federation on the pledge of this law defines the basic provisions on mortgage.
Relations collateral, not regulated by this law, are regulated by other acts of legislation of the Russian Federation.
If an international treaty of the Russian Federation establishes rules on mortgage than those contained in the legislation of the Russian Federation, the rules of the international treaty shall apply.
Article 3. Basis of pledge 1. Security deposit arises in contract law.
2. A law providing for the emergence of a pledge shall contain an indication to the effect any obligation and what property should be recognized as being in the pledge.
Article 4. The scope of the pledge 1. Collateral can be provided a valid requirement, in particular arising from the loan agreement, including bank loans, contracts of sale, renting, transportation of goods and other contracts.
2. The subject of pledge may be things, securities or other property and property rights.
The subject of pledge cannot be requirements that are personal in nature, as well as other requirements, a pledge which is prohibited by law.
3. a pledge may be established in respect of claims that will arise in the future, provided the parties agree on the amount of the collateral securing such claims.
4. mortgage is derived from its obligations. The existence of the rights of the mortgagee is depending on the fate of the secured by the pledge.
Article 5. Types of collateral by a statute or contract may stipulate that the mortgaged property remains with the mortgagor or mortgagee in possession is transferred (mortgage).
Pledge of goods can be done by passing the document of title to the mortgagee, a commercial paper. Pledged securities may be transferred in a notary's Office or bank deposit.
Article 6. Property as pledge 1. The subject of pledge may be any property which, in accordance with the legislation of the Russian Federation may be alienated by the pledgor.
2. A judgment lien on things their affiliation and integral fruits unless otherwise provided by a statute or contract. Liens on things may include separable fruits only within and pursuant to the procedure provided by a statute or contract.
3. the agreement or law may provide for distribution of collateral on things that can be purchased by the pledgor in the future.
Article 7. Pledge of property in common ownership 1. Property located in common joint property may be transferred in pledge except with the consent of all the owners.
2. a pledge owner share common partial property does not require the consent of the other owners.
3. the owner of an apartment independently decides whether to surrender her pledge.
Article 8. Replacement of the pledged collateral Substitution is allowed only with the consent of the pledgee. How to replace the pledge with the mortgage of commodities in circulation is regulated by articles 46 and 47 of this law.
Article 9. Mortgage and insurance 1. The law or the contract for the mortgagee may have an obligation to insure the passed in his possession of the mortgaged property.
(Second paragraph of paragraph 1 repealed-the Federal law dated 19.07.2007 N 197-FZ)
2. A statute or a contract on the mortgagor may be assigned the duty of the Commission of insurance, the public authorities action and adoption of acts, separating from its business activities, or impede it, or adversely affect it (confiscation, requisition of property), as well as liquidation or recognition of the insolvent debtor.
3. When insurance cases, the pledgee has the right to preferential satisfaction of their requirements from the sum of insurance compensation.
Article 10. Content and form of the collateral agreement 1. In the contract of pledge must contain conditions stipulating the type of collateral, creature mortagage requirements, size, timing, performance, composition and value of the mortgaged property, as well as any other terms and conditions on which any one of the parties must be reached.
2. a contract of pledge must be made in writing.
3. a contract of pledge, providing the core obligations arising from the treaty subject to notary certification or notary udostoverennomu by agreement of the parties, should also be verified to a body udostoverivšem the basic contract.
4. A condition of the mortgage can be included in the Treaty, that raises an obligation secured by the pledge. Such a contract must be made in the form prescribed for the agreement on mortgage.
5. form of agreement on mortgage is determined by the law of the place of his detention. Contract of pledge, concluded outside the Russian Federation cannot be invalidated as a result of non-compliance forms, if the requirements established by the legislation of the Russian Federation.
Form of the contract of pledge of buildings, businesses, land and other facilities located on the territory of the Russian Federation, as well as railway rolling stock, civil air, sea and river ships, space objects registered in the Russian Federation, irrespective of the place of conclusion of such a treaty is defined by the legislation of the Russian Federation. (As amended by the Federal law dated 26.07.2006 N 129-FZ)
6. the rights and obligations of the parties to the contract of pledge shall be determined according to the legislation of the country where established, has his domicile or principal place of business of a party which is a Pledger, unless otherwise provided by agreement of the parties.
Article 11. State registration of collateral mortgage of the whole enterprise or other property subject to state registration must be registered with the Authority's exercise of such registration, if this law does not set a registration procedure.
If the pledge is subject to state registration, the contract of pledge shall be considered concluded from the moment of its registration.
Article 12. Consequences of non-compliance non-compliance with the agreement on mortgage form prescribed form collateral agreement shall entail the invalidity of the contract with the consequences provided for by the legislation of the Russian Federation.
Article 13. Appeal of actions relating to the registration of the pledge the person concerned may appeal the refusal in registration or illegal Commission of registration of mortgage in the Court at the location of the body conducting the registration.
Article 14. Information about the registration of mortgage authority responsible for the registration of the collateral, is obliged to extradite the pledgee and the pledgor of the registration certificate, as well as extracts from the register on request of the pledgee, the pledgor and other interested persons.
Article 15. State duty for registration of the collateral For mortgage registration, issuance of a certificate of registration, as well as extracts from the registry is levied at a rate determined by legislative acts of the Russian Federation. The applicant provides to the authority responsible for registration, proof of payment of the State fee. In the absence of such evidence, the statement is left without traffic.
Article 16. Liability of the authority conducting the registration body entrusted with the registration of pledge shall be liable for damage caused by a breach of the rules for registration of its employees.
Article 17. Registration of fulfillment of obligation provided with mortgage 1. On demand of the pledgor to the pledgee must issue him documents proving full or partial performance of an obligation for the subsequent introduction of corresponding information in the registry.
2. upon receipt of the documents confirming the complete or partial performance of the obligation secured by the pledge, and fulfills the pledge registration authority must immediately make a corresponding entry in the register.
Article 18. Maintenance record book Pledger pledge 1. Pledger-legal entities and physical persons registered as entrepreneurs must: keep a book entry collateral;
not later than ten days after the emergence of mortgage to make the book record that contains data about the form and subject of collateral, as well as the extent of availability of the pledge;
provide book for reference to any interested person.

2. The pledgor is liable for timeliness and correctness of making information about mortgage in book entry collateral. Mortgager must compensate the victims in full damages caused by delays in making entries in the book, their incompleteness or inaccuracy, as well as evasion of the duty to provide a book entry collateral.
Article 19. The pledgor shall 1. The pledgor may be the person to whom the collateral belongs by right of ownership or full economic disposal.
2. Enterprise which property was enshrined on the right of full economic disposal, carries out a pledge of the enterprise as a whole, its structural units and divisions as property complexes, as well as individual buildings and structures with the consent of the owner of the property or his agent.
3. An institution may pledge assets in relation to which it has acquired in accordance with the law the right to surrender.
4. the pledgor of rights may be the person that owns the pledged right.
The tenant may transfer their lease rights in collateral without the consent of the lessor, unless otherwise stipulated in the agreement.
Article 20. The right to dispose of the pledged assets the pledgor has the right of disposal of the pledged property, unless otherwise provided by a statute or contract of pledge.
In doing so, go right to the mortgaged property is possible only with the transition to the new claims principal debt secured by the pledge.
Article 21. A subsequent pledge of the pledged property Subsequent liens have already mortgaged property shall be allowed, unless otherwise provided by this law and prior agreements of pledge.
Article 22. Right of previous mortgagee 1. If subject of mortgage becomes mortgaged property, which already serves as a collateral obligations, collateral right of previous mortgagee.
The requirements of the subsequent mortgagee are satisfied from the cost of mortgage after satisfaction of the claims of previous mortgagee.
2. Mortgager must inform each subsequent mortgagee about all existing liens on this property, as well as the nature and amount of these liens secured obligations. The pledgor is liable for damages arising from any of his mortgagees as a result of failure to perform this duty.
Article 23. The demands of mortgagee satisfied because of mortgaged property through foreclosure the pledgee shall have the right to satisfy his requirements in full, determined at the time of actual satisfaction including interest, damages caused by delay of fulfillment and, in cases provided by a statute or contract-a penalty; also eligible for reimbursement of the necessary costs of maintenance of the pledged property and the costs of claims secured by the pledge.
Article 24. (Repealed by federal law N 306-FZ) Article 24-1. The procedure for levy of execution on the pledged immovable property 1. Foreclosure of the pledged movable property for satisfaction of the claims of the pledgee is effected in the manner prescribed by the present law, unless otherwise provided by other federal laws.
2. claims of the mortgagee are satisfied from the value of the pledged movable property by a court decision.
3. the parties may stipulate in the contract of pledge a condition about how to implement a court decision and (or) the condition of possibility of the levying of execution on the pledged movables extrajudicially.
If the pledgor and the pledgee in the contract of pledge included a condition concerning the mortgaged movable property by a court decision and the mortgagee applies to the Court for foreclosure of the pledged movable property and its implementation in accordance with the terms of the Treaty, the Court, in deciding on the foreclosure of the pledged movable property, establishes the procedure for sale of the pledged assets in accordance with condition of the order established by the specified contract.
4. Satisfaction of mortgagee at the expense of the mortgaged movables extrajudicially allowed if it is stipulated in the agreement on mortgage. The condition of possibility of the levying of execution on the pledged movables extrajudicially included in a contract of pledge.
The parties to the contract of pledge shall have the right to include in the Treaty a condition for foreclosure of the pledged movable property out of court at any time.
If a contract of pledge containing the condition for foreclosure of the pledged property extrajudicially, provides several ways of realization of the pledged movable property, the right to choose the method of its implementation, provided that the specified contract provides otherwise, belongs to the mortgagee.
5. If the contract of pledge containing the condition for foreclosure of the pledged movable property extrajudicially, certified by a notary, in case of nonperformance or improper performance by the debtor of the obligation secured by the pledge allowed enforcement of pledge for the dishonor of a notary without recourse to the Court in the manner prescribed by the legislation of the Russian Federation on notaries and laws of Russian Federation on enforcement proceedings.
6. If a longer term is not set the contract of pledge between mortgagee and mortgager, realization of the pledged movable property not allowed previously within ten days from the date on which the depositor in accordance with this law shall be deemed to have received a notification. Realization of the pledged movable property may be carried out before the expiry of that period, with a significant risk of loss or damage of the subject of the pledge, as well as with a significant risk of a significant reduction in collateral prices compared to the price (initial sale price), specified in the notification.
7. the provisions of this article shall also apply to the collateral, which in accordance with the contract of pledge is located at the the mortgagee.
If, in accordance with the contract of pledge containing the condition on extrajudicial foreclosure, collateral is located at the the mortgagee, enforcement of such collateral and its implementation can be carried out by the pledgee without dishonor notary.
8. If enforcement of pledge shall be effected on the basis specified in paragraph 7 of this article, upon the occurrence of the reason for the pledgee sends the pledgor in the manner prescribed by article 28-6 of this Act, a notice containing a proposal to fulfill this obligation.
9. This notice must contain the information: 1) the obligation provided with mortgage;
2) on contract of pledge (if the bail has arisen on the basis of a contract of pledge);
3) of mortgaged movable property which is subject to the satisfaction of the claims of the pledgee;
4) about how to implement the mortgaged movable property, provided for by the agreement of parties or by law;
5) price (initial selling price) of the pledged movable property, with the exception of the sale of securities on the organized securities market.
10. This notice must also contain the requirement of performance of the obligation secured by the pledge and warning of foreclosure on collateral in case of default of the obligation.
11. This notice is attached a copy of the calculation of arrears signed by the mortgagee.
12. The pledgee has the right to sell the collateral in accordance with the terms of the contract of pledge, if the pledgor within twenty days from the date on which the pledgor shall be deemed to have received the notice addressed to him, did not provide documents confirming the fact of performance of the obligation secured by the pledge.
(Article supplemented by federal law N 306-FZ) (As amended by the Federal law dated 06 N 405-FZ), Article 25. Collateral in partial performance of the obligation in the case of partial fulfillment by the debtor of the obligation secured by the pledge pledge remains in the original volume to full performance of the secured obligations, unless otherwise provided by a statute or contract.
Article 26. Satisfaction of the requirements of the pledgee of collateral, consisting of several things (rights) if the collateral is a few things or rights, mortgagee, by their own choice can get satisfaction through the whole of the property or any of the things (rights), while retaining the ability to subsequently get satisfaction at the expense of other things (rights) which are the subject of the pledge.
Article 27. Consequences of satisfaction of the claim of the mortgagee, by a third party in the event of a claim of mortgagee by third person thereto together with the right to claim passes providing his lien in the manner prescribed by the legislation of the Russian Federation for the assignment of a claim.

Article 28. (Repealed by federal law N 306-FZ) Article 28-1. Realization of the pledged movable property 1. Realization of the pledged movable property to which the execution is levied in accordance with the Court's decision, are performed through public auction, in accordance with the laws of Russian Federation on enforcement proceedings.
2. When foreclosure of the pledged movable property extrajudicially, as well as in the case envisaged by paragraph 3 of article 24-1 of the present law, the realization of collateral is performed by sale at auction, conducted in accordance with the rules laid down by articles 447 and 448 of the Civil Code of the Russian Federation, the present law and the agreement of the parties.
Unless otherwise stated in the contract of pledge of movable property in accordance with the conditions laid down in paragraph 4 of this article, the securities traded on the organized securities market are subject to sale at trades traded on the securities market.
3. a contract of pledge of movables, which envisages extrajudicial procedure of foreclosure of the pledged movable property and which are legal entities and (or) individual entrepreneurs in securing commitments related to business activities, parties may also specify one way or multiple ways of realization of collateral, including the plan for the following provisions: 1) abandonment for a collateral mortgagee;
2) sale of collateral to a third party by the pledgee or the Commissioner acting under a contract between him and the mortgagee to the Treaty Commission.
4. exclusion from the unified State Register of individual entrepreneurs of the natural person who concluded a contract of pledge containing the prescribed by subparagraphs 1 and 2 of paragraph 3 of this article shall not entail termination of the contract of pledge to the relevant part.
5. When foreclosure of the pledged movable property in the manner prescribed by paragraphs 3 and 4 of this article, the mortgagee reserves mortgaged movable property or sell to a third party (including through their agent) at a price equal to or above the market value.
The mortgagee reserves the securities collateral and marketable securities, at a price that you specify or define the order specified in the contract of pledge or if the price or for determining the contract of pledge is not installed at a price determined on the basis of the evaluation report of such securities.
Ownership of the collateral, and left behind a mortgagee, goes to him at the time of the transfer or pledge if the collateral at the time of referral to the pledgor notice of foreclosure on collateral is located at the the mortgagee pledgor at the time of receipt of this notice, provided that federal law does not set a time of ownership of this type of movable property.
If collateral is property rights, they pass to the pledgee by the pledgor at the time of receipt of the notice of abandonment of the pledged property in favour of the pledgee, provided that federal law does not set a time of transition for this type of property rights.
6. In order to realize the pledged movables specified in paragraphs 2-4 of this article means the pledgee shall have the right to conclude on their own behalf all the necessary and relevant to its legal capacity of transactions, including the organizer of the auction and the appraiser, and also sign all necessary for realization of the pledged movable property documents, including acts of acceptance, transfer orders.
Remuneration of auction Organizer or agent, not to exceed three per cent of the proceeds from the sale of the pledged movable property subject to the mortgagee in the specified amount. If the organizer of the auction agent exceeds three percent of the amount recovered from the realization of the pledged movable property, the difference between the remuneration stipulated in the contract concluded with the organizer of the auction or on a Commission basis, and three per cent of this amount is non-refundable due to the value of the pledged movable property and is paid for by the mortgagee.
If mortgaged property was not realized by sale at auction, in accordance with this law, payment of services of the auction organizer shall be carried out at the expense of the mortgagee who has left behind a pledge, or if the pledgee does not used the right to reserve collateral, at the expense of the pledgor.
7. In the case of a claim of mortgagee at the expense of the pledged movable property on the basis of the decision of the Court for good cause at mortgager's disposal and, at his request, the Court may postpone the sale of the pledged assets at public auction for up to one year. Delay does not affect the rights and obligations of the parties under an obligation secured by a pledge of this property and does not release the debtor from payment of the increased during the deferral of loss the lender interest and penalty.
When determining the period for which deferred the implementation of mortgaged movable property, the Court shall take into account also that the sum of the demands of mortgagee, subject to satisfaction of the value of the pledged movable property at the time of expiry of deferment, should not exceed the value of the pledged movable property on the assessment specified in the contract of pledge.
The postponement is not allowed, if it can entail a significant increase in the risk of loss or destruction of, the risk of a significant reduction in the prices of mortgage, compared with the initial selling price of the subject of pledge or a significant deterioration of the financial situation of the mortgagee.
8. If the foreclosure of the pledged movable property is carried out extrajudicially, the parties may establish a time limit within which the date referred to in paragraph 6 of article 24-1 of this Act, must be realization of the pledged movable property. If agreement between the pledgor and the pledgee of such a term is not set, the realization of the pledged movable property must be implemented within a reasonable period of time.
If the collateral was implemented upon expiration of the period stipulated in this clause, the pledgor has the right to claim damages.
9. If in accordance with the contract of pledge containing the condition for foreclosure of the pledged movable property extrajudicially, realization of collateral is realized by selling it to a third party by the pledgee, the pledgee shall send a certified copy of the mortgagee pledgor concluded with the sales contract.
10. If, in the foreclosure of the pledged movable property in accordance with the contract of pledge containing the condition for foreclosure of the pledged movable property extrajudicially, realization of mortgage was not effected within the term determined in accordance with paragraph 5 of article 24-1 of this Act, the pledgee shall have the right to require the levying of execution on the pledged movable property in court.
11. If the amount received upon sale of the pledged movable property is insufficient to cover the claims of the pledgee has the right (unless otherwise specified by law or contract) to receive the missing amount from other property of the debtor, not taking advantage of, based on the pledge.
12. If the amount received upon sale of the pledged movable property or the price at which the mortgagee has left behind a mortgaged movable property exceeds the size requirements of the pledgee secured by the pledge, the difference will be returned to the pledgor. The difference must be returned within the period stipulated in the agreement between the pledgor and the pledgee, or, if such a term is not set within ten days from the date when the price exercisable mortgaged movable property shall be paid by the purchaser, or from the date on which the mortgagee has acquired ownership of the pledged movable property.
When the foreclosure of the pledged movable property extrajudicially responsible for returning the specified margin owed by the pledgor to the pledgee.
(Article supplemented by federal law N 306-FZ) (As amended by the Federal law dated 06 N 405-FZ) Article 28-2. The order of realization of the pledged movable property on bids 1. For the purposes of this Act, trades refers to public auction, which is ensured by the organizer of the auction in the order established by this law.
2. where the levy of execution on the pledged property extrajudicially organizer of trades is determined by the contract of pledge or contract, from which arose the obligation secured by the pledge.

3. the bailiff sends a copy of the Decree on the transfer of property to an implementation of the organizer of trades. Welcome to the realization of the pledged movable property against the bailiff-performer on the instrument of transfer and receipt, as well as provided for by the legislation of Russian Federation on enforcement proceedings documents are concerned by the pledgee.
4. Upon sale of the pledged movable property at a public auction on the basis of the decision of the court bailiff or when you implement with sales at foreclosure on such property extrajudicially, the mortgagee must send not later than ten days before the date of the trades to the pledgor and the debtor on its principal undertaking notification of tenders, indicating the date, time and place of the auction.
5. the organizer shall inform about upcoming bidding bids not later than ten days, but not earlier than thirty days in advance in the periodical, which is the official information organ of executive authority of the Russian Federation, bidding, and sends corresponding information for posting on the Internet in the order established by the Government of the Russian Federation.
6. Notification of tenders shall contain: 1) information about Organizator of trades (brand name (name), legal form, location, registration number (primary state registration number), contact telephone number);
2) the basis for the bidding of the pledged movable property in accordance with the present law (decision of the Court or a notary in case of inscription Executive extrajudicial foreclosure of such chattels);
3) information about the embedded movable property sold at auction, its composition, characteristics, such a description of the mortgaged property, the procedure of familiarization with the pledged movable property, information about the presence or absence of encumbrances and other rights of third parties on such a mortgaged property;
4) requirements for applications for participation in trades;
5) the amount of the down payment, time and order of deposit to bid;
6) start and finish dates for the acceptance of applications for participation in trades;
7) date and time of the beginning and the end;
8) initial selling price of the mortgaged movables;
9) amount of increase of the initial sale price of the mortgaged movables;
10) date, time, summing up the results of bids;
11) draft contract of sale of the pledged movable property and the order of the conclusion of the Treaty;
12) terms of payment, account details, which made payments.
7. Persons having the desire to bid, make a deposit in the amount, timing and procedure shall be indicated in the tender notice. The size of the down payment may not exceed five per cent of the initial sale price of the mortgaged movables.
Persons who participated in the auction, but failed to win them, the deposit is returned not later than five working days after the end of the auction. Also deposit refundable if the auction did not take place.
8. Successful bidding is the person issuing an invitation to bid the highest price for the purchased movable property. This person and the organizer of trades day sign a Protocol on the results of the bidding. Dodging any of them from signing the Protocol shall entail such consequences as provided for in paragraph 5 of article 448 of the Civil Code of the Russian Federation.
9. a person who has won an auction, should make within five working days after the end of the amount for which the person bought mortgaged movable property (the purchase price), minus the previously made a deposit into the account specified by the organizer of the auction. For failure to pay the specified amount of the deposit will not be returned.
10. Within five working days from the moment of the purchase price of the person who has won the auction, the organizer of the bidding concludes with the individual sales contract. The Treaty and the Protocol on results of trades are the basis for making the necessary entries in the registry, which records the rights to mortgaged movable property.
11. The initial selling price of the mortgaged movables is determined by a court decision in cases of foreclosure on movable property in court or in other cases in accordance with the agreement on mortgage.
In determining the initial selling price of the mortgaged movables justiciability of the price shall be determined by decision of the Court on the basis of an agreement between the pledgor and the pledgee, made in the course of the trial, and in the event of a dispute by the Court itself.
If the initial selling price of the mortgaged movables is determined on the basis of the report, the initial selling price of the mortgaged property, which begin bidding is set to eighty per cent of the market value of such property, defined in the report of the assessor.
12. a contract of pledge, providing for the right to meet the demands of mortgagee at the expense of the mortgaged movables extrajudicially, specifies the starting selling price of the mortgaged movables or its definition.
If the implementation mortgaged movables extrajudicially federal law provided for compulsory involvement of a valuer, the initial selling price of the mortgaged movable property with which begin bidding is set to eighty per cent of the market value of such property, as defined in the report, unless otherwise provided by the contract of pledge containing the condition for foreclosure of the pledged movable property extrajudicially.
Mortgaged movable property is sold to the person offering the highest price at the auction.
13. engaging an appraiser upon sale of the pledged movable property enforcement carried out extrajudicially, necessarily in case the pledgee leaves collateral or sell it to any third party (including through their agent). When abandonment mortgagee reserves pledged securities traded on organized securities market, at a price that you specify or define the order that is specified in the contract of pledge, engaging an appraiser is required.
If the person concerned does not agree with the evaluation of the pledged movable property, it has the right to demand from the mortgagee damages caused by implementation of the collateral costs specified in the evaluation report.
14. When selling the mortgaged movables on the tender engaging an appraiser is obligatory if the pledged assets are as follows: 1) non-marketable securities on the organized securities market;
2) property rights;
3) precious metals and precious stones and articles made of them and also scrap such products;
4) collectable banknotes in rubles, foreign currency;
5) items with significant historical, artistic or other cultural value to society;
6) other property which under the contract of pledge exceeds five hundred thousand rubles.
15. bringing the appraiser is not required in the implementation of pledged securities traded on organized securities market.
(Article supplemented by federal law N 306-FZ) (As amended by the Federal law dated 06 N 405-FZ) Article 28-3. Recognition of the trades failed 1. Upon sale of the pledged movable property on auction bidding Organizer declares them invalid if: 1) in the auction was attended by less than two members;
2) tendering is not effected by the increase in the initial selling price of the mortgaged movables;
3) person who has won an auction, not made the purchase price within a specified time.
2. Tenders must be declared invalid, not later than the next day after day, where there has been any of those referred to in paragraph 1 of this article, circumstances.
Within ten days after the tender invalid under an agreement with the mortgagee pledgor has the right to purchase mortgaged movable property and set off against the purchase price of their claims secured by collateral. The rules apply to such an agreement on the contract of sale.
If an agreement on the acquisition of the pledged movable property by the pledgee is not enclosed, no later than one month after the date of the first trades conducted repeated trades. The initial selling price of the mortgaged movables repeat bid if they were caused by circumstances specified in subparagraphs 1 and 2 of paragraph 1 of this article shall be reduced by 15 per cent.
Upon sale of the pledged movable property on bids in foreclosure on the property pursuant to extra-judicial procedures, contract of pledge may be prescribed to reduce the prices in case of repeated trades were declared not valid in the circumstances mentioned in subparagraphs 1 and 2 of paragraph 1 of this article.

3. When declaring invalid rebidding the pledgee shall have the right to retain the pledge with his assessment in the amount of up to ten per cent lower as compared to the initial selling price for repeat bid if a higher score has not been established by agreement of the parties.
If the pledgee does not use the right to reserve the mortgaged movable property within one month from the date of announcement of rebidding canceled the contract of pledge shall be terminated.
The mortgagee is deemed to be making use of this right, if within one month from the date of announcement of rebidding abortive will forward in writing to the organizer of the auction and the pledgor or, if the attachment is carried out in the judicial order, the organizer of the trades, the pledgor and bailiff Executive Director statement of abandonment for a pledge.
4. Ownership of the abandoned behind a mortgaged movable property passes to the mortgagee at the moment of transfer of the subject of pledge or if the collateral at the time direction by the pledgee to the organizer of trades, statements about leaving behind a mortgaged movable property located at the the mortgagee, in the time of receipt of the application, provided that federal law does not set a time of ownership of this type of movable property.
If collateral is property rights, they are transferred to mortgagee when the organizer of the auction application for abandonment for a property rights, provided that federal law does not set a time of transition for this type of property rights.
(Article supplemented by federal law from 06.12.2011 N 405-FZ) Article 28-4. Realization of the pledged movable property under contract to the Commission 1. In the cases provided for in article 28-1 of this Act, the contract may be concluded by the Commission with a view to the realization of the pledged movable property through which the claims of the pledgee extrajudicially. In this case the committent is the mortgagee.
A Commissioner may be defined in the contract of pledge containing the condition for foreclosure of the pledged movable property extrajudicially. In the absence of guidance on the definition of agent in contract of pledge Commissioner is determined by yourself.
In cases where a Commission agreement concluded for the purpose of sale of the pledged movable property seized by the pledgee, things available for the agent from him, are not owned by the latter.
2. the price of sale of the pledged movable property by the Treaty Commission in an amount not less than specified in a report the market value of the property appraiser.
Price realization of pledged securities traded on organized securities market, under the Treaty the Commission is determined by the agreement on mortgage securities data or, if such a price or for determining the contract of pledge is not installed at a price determined on the basis of the evaluation report of these securities.
3. in the case of a middleman sold collateral at a price below its market value, specified in the report, the pledgor has the right to demand from the pledgee for compensation of damages.
4. If mortgaged movable property was not implemented by the Commissioner within the prescribed security interest or treaty under paragraph 8 of article 28-1 this law term, collateral realization occurs at the auction in accordance with article 28-2 of this Act.
(Article supplemented by federal law from 06.12.2011 N 405-FZ) Article 28-5. Distribution of the amount, proceeds from the sale of the pledged movable property 1. Upon sale of the pledged movable property in the case of the levying of execution on the pledged assets in court or on the basis of a court decision if the decision of the Court of Justice defined way of sale of the pledged movable property in the manner prescribed by the agreement of the parties, the amount received upon sale of the pledged assets shall be distributed between the rankings of their claims to recover zalogoderžatelâmi, other creditors of the mortgagor and the pledgor.
Distribution is done the body of judgments, or if execution on mortgaged movable property was drawn extrajudicially or collateral was implemented on the basis of a court decision in an order stipulated by agreement of the parties, the organizer of the auction or, if bids are not held by the notary.
2. The amount received upon sale of the pledged property is distributed in compliance with the rules of article 319, paragraph 1 of article 334, 3 points and 4 of article 350 of the Civil Code of the Russian Federation, as well as of article 46 of this law.
The requirements of the subsequent mortgagee are satisfied from the cost of mortgage after satisfaction of the claims of previous mortgagee.
After allocating the amounts received upon sale of the pledged movable property, between all the zalogoderžatelâmi who have proclaimed their demands to recover, in order of priority, established on the basis of contracts of pledge or if the Federal law prescribes the accounting and (or) registration agreement on mortgage and pledge into law individual objects movable property, based on the relevant registry data shall be allocated the amount of penalties and other penalties as well as the damages payable to the mortgagee in accordance with the terms of the obligation secured by the pledge.
(Article supplemented by federal law from 06.12.2011 N 405-FZ) Article 28-6. Order notification and requirements 1. Notice and requirement (hereinafter referred to as the notice) provided by the present law, a contract of pledge shall be sent to the address specified by the pledgor in the contract of pledge (at the location of the legal person or the place of residence of a natural person, including an individual entrepreneur).
Seat of a legal person shall be determined on the basis of the information contained in the unified State Register of legal persons, the place of residence of an individual entrepreneur-in the unified State Register of individual entrepreneurs.
2. Notification shall be sent by registered mail with advice of delivery or shall be served on the addressee against receipt.
3. the time of receipt of the notification by the party collateral agreement shall be considered: 1) the date specified in the notification of receipt of the notification at the address (location, place of residence), the parties to the agreement on mortgage, specified therein;
2) the date specified in the copy of the notice party collateral agreement or its representative upon delivery of notice against receipt;
3) date of refusal of the parties to the contract of pledge from the receipt of the notification, unless the refusal recorded organization of postal connection;
4) date on which the notification by registered mail with notice at (location, place of residence), the parties to the agreement on mortgage specified in it, not served in connection with absence of the addressee at the specified address (location, place of residence), as the postal service organization informed the sender of the notification.
4. A party to a contract of pledge shall also be deemed to receive notice properly if: 1) the addressee refused to receive notification and this rejection registered organization of postal connection;
2) notice served on the authorized person of the legal person.
(Article supplemented by federal law from 06.12.2011 N 405-FZ), Article 29. Satisfaction of mortgagee when insufficient amount, proceeds from the sale of the pledged assets in the case where the amount of the proceeds from the sale of the pledged assets are not sufficient to fully meet the demands of mortgagee, he may, unless otherwise provided by a statute or contract, to receive the missing amount from other property of the debtor, which may be levied in accordance with the legislation of the Russian Federation, without using a privilege based on the right of pledge.
Article 30. Return to the pledgor amount salvage realization of collateral if the amount received upon sale of the collateral, the secured lien exceeds the size of the claims of the pledgee, the difference is returned to the pledgor.
Article 31. Termination of the levying of execution on the pledged property performance 1. The pledgor has the right to, at any time before the moment of realization of the pledged to stop the foreclosure of the pledged property through the execution of the obligation secured by the pledge.
2. If an obligation secured by a pledge, provides performance piece by piece, the pledgor has the right to stop foreclosure on collateral through the execution of outstanding part of obligations.
3. agreements that restrict the right of the pledgor under paragraphs 1 and 2 of this article shall be null and void.
Article 32. Preserving a mortgage while switching collateral to a third party mortgage preserves force when ownership or full economic disposal mortgaged thing or constituting the subject of pledge right shall pass to a third party.

Article 33. Preserving a mortgage while the assignment requirements and transfer of debt when the assignment takes place according to the procedure established by law by the pledgee secured by the pledge requirement to a third person or mortgager translate debt arising out of the obligation secured by the pledge, to another person, the pledge remains in force.
Article 34. The grounds and consequences of termination of lien the right of pledge shall be terminated: 1) at the termination of the obligation secured by the pledge;
2) when mortgaged property;
3) on expiration of the right of pledge;
4) upon the transfer of rights to the collateral to the mortgagee;
5) in other cases stipulated by law.
Section II of the Collateral property is left at mortgager's disposal Chapter 1. General matters Article 35. Collateral to the abandonment of the mortgaged property at mortgager's disposal 1. The subject of pledge to the abandonment of the mortgaged property at mortgager's disposal may be enterprises, buildings, constructions, apartments, vehicles, space objects and the other as defined in article 6 of this law property.
2. Separable fruits may be the subject of collateral referred to in paragraph 1 of this article, provided they do not become since Office object of rights of a third party.
3. Pledge of assets transferred by the pledgor at the time possession or use of a third party, Lien with leaving it at disposal of mortgager.
Article 36. Rights of mortgagee when mortgaged property is left at mortgager's disposal when mortgaged property is left at mortgager's disposal the mortgagee, unless otherwise provided by the contract, shall have the right to: 1) inspect the documents and in fact the presence, size, condition and storage conditions of the subject of pledge;
2) demand from mortgager to taking the measures necessary for the conservation of the subject of pledge;
3) require from any person the cessation of attacks on collateral, threatening its loss or damage.
If the collateral is lost through no fault of mortgagee and mortgager is not restored or, with the consent of the mortgagee has not replaced other property of equal value, the pledgee shall have the right to demand early performance of the obligation secured by the pledge.
Article 37. Rights of mortgager when mortgaged property is left at mortgager's disposal unless otherwise provided by the contract and by law, the mortgagor when mortgaged property is left at mortgager's disposal has the right to: 1) own and use the subject of pledge in accordance with its purpose;
2) dispose of the subject of pledge by his estrangement with the transfer to the acquirer of the debt under an obligation secured by a pledge or by renting.
Article 38. Obligations of mortgager when mortgaged property with leaving it at disposal of mortgager Mortgager when mortgaged property is left at mortgager's disposal, unless otherwise provided by the contract of pledge must: 1) at his own expense to insure the collateral to its full cost;
2) take the steps necessary to preserve the subject of pledge, including capital and current repair;
3) notify mortgagee about leasing of subject of mortgage to rent.
Article 39. Consequences of a breach of obligations by mortgager when mortgaged property is left at mortgager's disposal in case of violation by the pledgor of the obligations under paragraphs 1 and 2 of article 38 of this law, the pledgee has the right to foreclose on the collateral before the time of fulfillment of obligation provided with mortgage.
Article 40. Form and registration of agreement on mortgage vehicles and space objects 1. (Repealed-the Federal law dated 06 N 405-FZ)
2. a pledge of vehicles is subject to registration in the registers maintained by governmental organizations, engaged in the registration of civil air, sea, river boats and other vehicles.
3. mortgage facility for study or civilian use of outer space, the Moon and other celestial bodies, must be registered in a special public register.
Collateral object in outer space, on the Moon or other celestial bodies, shall be registered in the registry, which is carried out in accordance with the norms of international space law.
Article 41. Pledge of land Collateral of land by individuals, they belong on the right of ownership, if such a security deposit is not subject to the rules of Chapter 2 of this title, shall be carried out in accordance with the procedure established by the land and other legislation of the Russian Federation.
Chapter 2. Enterprise mortgages, constructions, buildings, structures, and other objects that are directly linked to land (mortgage) Article 42. The concept of a mortgage a mortgage is recognized enterprise mortgages, constructions, buildings, structures or other object that is directly associated with the land, together with the land or the right to use them.
Article 43. Form of agreement on mortgage. Mortgage registration 1. Agreement on hypothec must be notarially certified.
2. A mortgage registered in the land book for the location of enterprises, structures, buildings, structures or other object.
The transfer of ownership or full economic disposal for mortgages from the pledgor to another person is subject to registration in the same land revision book in which registered mortgage.
3. an agency conducting State registration of collateral of the enterprise as a whole, is obliged to provide information about the registration of mortgage bodies leading to the land records, including the location of the geographically isolated subdivisions of the enterprise.
Article 44. Mortgage companies 1. Mortgage company apply to all his assets, including fixed assets and current assets, as well as other values, as reflected in a separate balance sheet, unless otherwise provided by a statute or contract.
2. Enterprise-the pledgor has the obligation to provide upon the request of the pledgee the annual balance sheet.
3. in default of the obligation provided with hypothec of enterprise, the pledgee shall have the right to take measures to redress the financial situation of the company, pursuant to the Treaty on the mortgage, including the designation of representatives in the governing bodies of the enterprise, the restriction of the right to dispose of produced products and other assets of the company. If the above steps did not give appropriate results, the pledgee has the right to foreclose to the mortgage company.
4. When foreclosure to mortgage company it sold at auction as a single complex in the manner prescribed by the legislation of the Russian Federation.
Article 45. Early performance of the obligation provided with hypothec mortgager has a right at any time to execute ahead of secured mortgage obligation in full, if agreement on hypothec excludes the possibility of subsequent collateral the same mortgage.
Chapter 3. Mortgage of commodities in circulation and processing Article 46. Features of mortgage of commodities in circulation and processing 1. When mortgage of commodities in circulation and processing allowed changes in the composition and the natural form of the pledged assets (inventory, raw materials, semi-finished products, finished products and the like), provided that their total value does not become less than specified in the contract of pledge.
Decrease in the value of the pledged goods in circulation and processing allowed commensurate with the executed portion of the secured their pledge, unless otherwise provided by the contract.
2. If the mortgage of commodities in circulation and processing are implemented by the pledgor of goods will no longer be the subject of pledge from the moment of their transition into property, complete economic management or operative management of acquirer and acquired by the pledgor of goods provided for in the agreement on mortgage become subject of a pledge since the outbreak on them at disposal of mortgager property rights or full economic disposal.
Article 47. Content of agreement on mortgage of commodities in circulation and processing agreement on mortgage of commodities in circulation and processing must determine the kind of mortgaged commodity, his other generic signs, the total cost of the subject of the pledge, the place in which it is located, as well as the types of products which can be substituted with collateral.
Article 48. Rights of mortgager when mortgaged commodities in circulation and processing When mortgage of commodities in circulation and processing the pledgor has the right to own, use and dispose of the pledged assets in compliance with the rules of this chapter.
Section III of the Bail with the transfer of mortgaged property (things) the pledgee (bet) article 49. The concept of pledge 1. Mortgage is a contract of pledge, under which the mortgaged property (thing) is passed into the possession of the pledgee.
2. By agreement between mortgagee and mortgager the subject of pledge may be left with the pledgor under lock and seal of mortgagee (firm pledge). Specific thing can be left with the pledgor with signs indicating a pawn.
The provisions of this section apply to a firm pledge so far as their application does not contradict the substance of the relationship between mortgagee and mortgager at such a pledge.
Article 50. Duties of mortgagee at pledge. When mortgage the mortgagee, unless otherwise provided by the contract, is obliged to:

1) insure the subject of pledge to its full cost at the expense of and in the interest of the pledgor;
2) take the steps necessary to preserve the subject of pledge;
3) immediately notify mortgager about threat occurs, the loss or damage of the subject of pledge;
4) regularly send the pledgor a report on the use of the subject of pledge, if the use is permitted in accordance with paragraph 1 of article 51 of this law;
5) immediately return the subject of pledge after mortgager or a third party obligation provided with pledge.
The pledgee shall derive from the subject of pledge income for mortgagor in the case where this is provided for by the Treaty.
Article 51. Right of mortgagee at pledge. 1. The pledgee shall have the right to use the subject of pledge in cases expressly provided for by the contract of pledge. Mortgagee acquired as a result of your use of the subject of pledge income and other economic benefits are directed to the costs of the subject of pledge, as well as qualify for repayment of interest on the debt, or the debt under an obligation secured by a mortgage obligation.
2. If there is a real threat of loss, shortage or damage of the subject of pledge is not the fault of mortgagee, he may require the replacement of the subject of pledge, and in case of refusal of the pledgor to comply-to foreclose on the subject of pledge before the time of fulfillment of obligation provided with pledge.
Article 52. Possibility of an early performance of the obligation secured by the mortgage if the mortgagee keeps or uses the subject of pledge in an improper manner, the pledgor has the right at any time to demand termination of the pledge or execute ahead of secured mortgage obligation.
Article 53. Responsibility of mortgagee for loss, shortage or damage of the subject of pledge 1. The mortgagee is responsible for the loss, shortage or damage of the subject of pledge, unless he proves that the loss, shortage or damage occurred through no fault of his own.
If loans under pledge of property is the subject of the business activities of the mortgagee, releasing it from liability may only take place if the mortgagee proves that the loss, shortage or damage of the subject of pledge occurred due to force majeure or (if the subject of pledge on the pledgor) intent or gross negligence of the pledgor. (As amended by the Federal law dated 19.07.2007 N 197-FZ)
2. The mortgagee when the mortgage is liable for loss and short‑fall amounting to the cost of the lost (missing) and for the damage of the subject of pledge-the amount by which the cost of things laid down. If when taking things at stake was the subject of pledge, the pledgee's liability shall not exceed the specified assessment.
Mortgagee must fully compensate the pledgor damages caused by loss, shortage or damage of the subject of pledge, if provided for by a statute or contract.
Section IV Article 54 rights Pledge. Rights as collateral 1. The subject of pledge may be owned by any pledgor tenure claims and use rights, including the rights of a lessee, other rights (claims) arising out of the commitments, and other proprietary rights.
2. the right to a specific validity period may be the subject of pledge only until the expiry of its validity.
3. mortgaging rights contract with no monetary value, the value of the collateral is determined by agreement of the parties.
Article 55. The content of the contract of pledge agreement on mortgaging rights the rights along with the conditions provided for in article 10 of this law, shall be indicated, a person who is a debtor in relation to the pledgor. The pledgor shall notify the obligee of mortgaging rights.
Article 56. Obligations of mortgager when mortgaged rights while mortgaging rights, unless otherwise provided by contract, the mortgager must: 1) take any action required to ensure the validity of the mortgaged right;
2) not to make concessions to the mortgaged right;
3) not to commit any action resulting in termination of the mortgaged right or decrease its value;
4) take measures necessary to protect the mortgaged right from encroachments by third persons;
5) inform the mortgagee information about developments in the mortgaged right about his violations by third parties and the claims of third parties.
Article 57. Rights of mortgagee while mortgaging rights while mortgaging rights, unless otherwise provided by contract, the pledgee shall have the right to: 1) regardless of the time of fulfillment of obligation provided with mortgage demand in court, Arbitration Court transfer to yourself the mortgaged right, if the mortgagor failed to perform the duties provided for in article 56 of this law;
2) join as a third party in the case, which dealt with the claim about mortgaged right;
3) in the event of non-performance by the pledgor of the obligations imposed by paragraph 4 of article 56 of this law, to independently take action necessary to protect the mortgaged right from violations by third parties.
Article 58. Effects of the performance by the debtor of the obligations owed by the pledgor of the 1. If the debtor mortgagor to mortgager the obligation secured by the pledge, will fulfill his obligation, whatever is received when the mortgager becomes the subject of pledge, as the pledgor shall immediately notify the mortgagee.
2. When it receives from its debtor through execution of obligations amounts the pledgor shall, upon the request of the pledgee to list the amounts in the account of fulfillment of obligation provided with mortgage unless otherwise provided by a contract of pledge.
Section V of the guarantees of the rights of the parties to the pledge Article 59. Protection of interests of the mortgagee upon termination of his rights and the rights of the pledgor to the mortgaged property on the grounds provided by Law 1. In case of acceptance by the Russian Federation or the Republic within the Russian Federation legislation, termination of lien or right of the pledgor to the mortgaged property, damages caused by the mortgagee as a result of these acts, he will be reimbursed in full by the Russian Federation or the Republic within the Russian Federation. Disputes about compensation of losses are settled by the Court.
2. In cases of termination of ownership of mortgaged property or termination of the rights laid down in connection with the decision of a public authority and control are not aimed directly at the seizure of the mortgaged property or pledged, including the decision of withdrawal land on which are laid down by the House, other buildings, structures or plantations, damages caused as a result of that decision, mortgagee, the mortgagee shall be reimbursed in full by the State body at the expense of at its disposal. Disputes about compensation of losses are settled by a court or arbitral tribunal.
Article 60. Invalidity of acts that violate security 1. If as a result of the publication of the public administration body or local self-government body not in conformity with the legislation of the Act violated the right of the mortgagee, such an act is held invalid by a court or arbitral tribunal upon application by the mortgagee.
2. Damages caused by the mortgagee as a result of the publication of the Act referred to in paragraph 1 of this article shall be compensated in full the relevant State administration body or a body of local self-government.
The President of the Russian Federation, b. YELTSIN Moscow, House of Soviets of Russia May 29, 1992 N 2872-I