The queues to enter in the Land and Mortgage Register in some cities already exceed one year. The standard is waiting for entry for at least several months. Legislator has prepared changes that will definitely improve activity of land and mortgage register courts.
The draft amendments prepared by the Ministry of Justice boil down to two fundamental issues: Enabling notaries to enter in the Land and Mortgage Register separate ownership of premises and mortgages and obliging banks to reimburse insurance margins collected by borrowers while waiting for entry.
The entity applying for the entry will have a choice: EITHER TO APPLY TO THE REGISTRAR’S COURT OR TO A NOTARY.
Of course, the consequences of such an entry will be the same.
There is no doubt that this kind of proposal is revolutionary. HOWEVER, IT DOES NOT SEEM THAT ITS INTRODUCTION WILL AUTOMATICALLY LEAD TO EASING QUEUES FOR ENTRY IN THE BOOKS.
This is mainly due to technical issues related to making such entries. The practice will largely depend on the efficiency of the IT systems handling the ledgers. There are almost always serious problems with these kinds of issues.