Mortgages in Transition Economies: The Legal Framework for Mortgages and Mortgage Securities

European Bank for Reconstruction and Development (EBRD)

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Date Published 2007
Primary Author European Bank for Reconstruction and Development
Other Authors
Theme Legal Framework for Housing Finance


The European Bank for Reconstruction and Development (EBRD) seeks to foster the transition from centrally planned to market economies in its 29 countries of operations. This includes encouraging countries to improve their legal environments by modernising their legal rules and institutions. This publication aims to identify what legal reform is needed to achieve an efficient legal framework for mortgage. It was prepared by the EBRD’s Office of the General Counsel with the generous support of the Swiss State Secretariat for Economic Affairs (SECO). Although great care has been taken to provide accurate information, it does not constitute legal advice, and parties to mortgage transactions should seek their own advice. In preparation for this publication, the EBRD conducted a survey of mortgage laws in 17 transition countries that have an active mortgage finance market or that are actively developing such a market. The survey can be extended to other countries.

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