START-ALLIANCE LLC. PROVIDES MORTGAGE VALUATION SERVICES IN MOSCOW AND OTHER RUSSIAN REGIONS.

We provide mortgaged property valuation services to lending banks and borrowers (individuals as well as legal entities). It should be noted that the current Russian legislation contains quite a few requirements for compulsory independent valuation of the mortgaged property in various situations.

The obligation to state the value of mortgaged property is directly required by the Russian Civil Code, Art. 339 “Mortgage Agreement, Method and Registration”, clause 1: “Any mortgage agreement must specify the mortgaged property and its appraised value, essence, amount and time of discharge of liability secured by the mortgage…” .

Mortgage valuation is especially relevant for mortgage lending. In particular, the obligatory mortgage valuation requirement in the event of a dispute is stipulated by the Federal Law “On Valuation Activities in the Russian Federation”, Art. 8: "Valuation is compulsory … in the event of any dispute over the value of the subject property, including… in mortgage lending to individuals and legal entities in the event of any dispute over the value of the mortgaged property”.

Furthermore, the Law “On Mortgage (Pledge of Real Property)”, Article 14, contains the following requirement: "The mortgage issued to the original mortgagee by a public registration authority must contain …. appraised money value of the mortgaged property, and in the event of statutory mortgage, appraised money value of the property supported by a valuer’s opinion”.

Thus, even such a brief analysis of statutory requirements positively permits us to say that an independent mortgage valuation creates a sound and fair legal basis of future relationship between the lender and the borrower.