Legal support of assignment of loan receivables (debt assignment agreement)
List of documents required for participation in the auction and conclusion of the agreement on assignment of rights of claim under the loan and mortgage agreement:
For individuals:
– passport, identification number of the participant
– if the participant is married: passport, identification number of the spouse, marriage certificate
– if the participant is divorced: divorce certificate, court decision
– if the participant is a widow/widower: marriage certificate, death certificate
Current articles:
– Agreement of sale and purchase of property rights
– Construction Financing Fund in Ukraine
– How to make a deal to buy an apartment in 2019
Information:
– contact phone number
– email address
– certificate with bank account details
For legal entities:
– status
– passport, identification number of the signatory
– power of attorney or protocol and order of appointment directors
– target protocol for participation in the auction and conclusion of agreements on the assignment of rights under the loan and mortgage agreement
Information:
– contact phone number
– email address
– certificate with bank account details
A written agreement for the provision of legal assistance must be concluded with the participant. Payment is made in 2 stages: 50% upon signing the agreement on the provision of legal assistance, 50% after fulfilling obligations under the agreement (conclusion of an agreement on the assignment of rights under the loan and mortgage agreement with a notary).
Cost of the service: 200-700 US dollars depending on the amount and complexity of the lot
Additional payment:
Security deposit for participation in the auction is 5% of the initial price
Site commission: 3% of the amount of the bank asset redemption
Cost of notary services for transaction execution: UAH 6,000 per one collateral object
Notarized consent of the spouse: UAH 500
Power of attorney for representation of interests for an employee of our company in the bank and in the notary office for signing documents and agreements on the assignment of credit and mortgage agreements and making changes to the State Register of Property Rights – UAH 500.
Preparation of technical documentation and entering information into the State Register of Property Rights – if necessary for old-style mortgage agreements – individually in the region where the property is located
Current articles:
– Residential Complex “Vash Dobrobut” Irpen, Kiev region – a brief legal audit (review) of construction
– Legal support for the assignment of rights of claim under a loan (debt assignment agreement)
– How to buy out a loan from a bank that is being liquidated – step-by-step instructions
List of services included in the package of auction support “TURNKEY”:
– consulting from the moment of concluding an agreement on the provision of legal services to concluding agreements on the assignment of the right of claim (regarding trades/risks/prospects/further actions after signing agreements on the assignment of credit and mortgage agreements (judicial and enforcement proceedings to remove encumbrances (pledge, mortgage, arrest)
– calculation of the cost of paperwork and the procedure for participation in the auction
– checking the lot and the debtor for risks and negative consequences with the provision of information about the check to the customer (auction participant)
– assistance in registration on the site and filling in all participant documents, submitting an offer, participating in the auction (from 09.30 to 17.00)
– control of payment and crediting of the registration fee
– assistance in receiving and control of signing the Protocol of the electronic auction by all parties (the winner of the electronic auction, the operator through whose electronic platform the highest price offer was provided, the customer of the electronic auction)
– coordination of the date and time of signing contracts with the Bank and the notary
– collection of the package of documents required for the transaction
– drafting/checking (proofreading) of contracts proposed by the bank and the notary for signing, making amendments and their subsequent approval
– visit to the bank to sign contracts and receive a credit file and the act of acceptance and transfer of documents
– visit to the notary to make changes to the State Register of Property Rights based on the concluded contracts
– transfer/free sending of documents by Nova Poshta across the territory of Ukraine to the customer (participant) and final payment.
Current articles:
– List of documents — apartment purchase and sale agreement
– List of documents — preliminary apartment purchase and sale agreement
– How to buy an apartment — step-by-step guide
The following risks and difficulties may arise during the verification of documents and information on the bank’s assets for the lot:
– the loan and mortgage under primary credit and mortgage agreements are not registered/not entered into the State Register of Property Rights;
– information about the land plot is not registered in the State Land Cadastre of Ukraine
– in addition to the registration of the loan and mortgage on the basis of primary loan and mortgage agreements, there are arrests on all property in the State Register of Property Rights, arrests and encumbrances of third parties
– information about the mortgage agreement, additions to the mortgage agreement, etc. is not entered / not registered, or is registered with errors
– the bank does not have the full package of documents required for holding auctions and concluding debt assignment agreements (including the original loan agreement, the original surety agreement, the original mortgage agreement, additional agreements to these agreements are missing)
– the presence of open court proceedings or court decisions
on debt collection on the loan that is being purchased or enforcement proceedings have been opened on this decision
Related services:
Why do you need a lawyer’s help in supporting the redemption of a debt from a bank?
The redemption of a loan by concluding an agreement on the assignment of rights of claim is a rather complicated procedure and has many technical, legal and time nuances. Even the slightest mistake made during preparation for participation in the auction (registration on the electronic platform, late payment of the security deposit, submission of an offer, late conclusion of agreements with the bank) or the absence of the necessary documents and applications may be grounds for disqualification of the Auction participant. However, this mechanism is real and works in practice.
Our company has certified specialists of the State Enterprise “PROZORRO” of the Ministry of Economic Development and Trade of Ukraine on its staff and positively provides legal support to clients in the repurchase of a loan by assigning rights of claim in banks that are in the process of liquidation. More than 508 of our clients have solved their long-term problems with a loan in this way.
If you are burdened with a loan in a bank that is being liquidated and intend to resolve the issue with the loan and preserve your property, the specialists of our company will consult you and, if necessary, provide comprehensive support for the transaction of assignment of rights of claim from the moment of registration on the electronic platform until the signing of the agreement with the Bank on the assignment of rights of claim on the loan.
Of course, it is up to you to decide – either just wait until the rights to claim your loan from a bankrupt bank are bought out by another bank, organization or individual, after which you will be obliged to pay the full amount of the loan principal and interest to the new owner, or take advantage of the bank’s bankruptcy and buy out your own loan with the help of a law firm with a very favorable discount of up to 80%.
