What immovable property can be considered destroyed / or damaged in order to receive a deferral of loan payments or for itscancellation?

Criteria for recognising real estate as damaged or destroyed:

1. Damaged property:

• Real estate that can be restored through repair or reconstruction.
• Damage must be confirmed by a survey report drawn up in accordance with the law.

2. Destroyed property:

• Immovable property, the restoration of which by means of repair or reconstruction is impossible or economically unfeasible.
• Economic inexpediency of repair:
• Determined on the basis of a report (act) or opinion of an expert/appraiser stating that the cost of repair exceeds the market value of the property.

3. Destroyed car:

• A vehicle is considered destroyed if:
• Repair is technically impossible.
• The repair is economically unreasonable (the cost of restoration exceeds the market value of the car).
• The fact of destruction is confirmed by an appraiser's report or expert opinion.

Important:

• Documentary evidence must be provided to confirm the status of damaged/destroyed property:
• A property inspection report.
• Report or opinion of an expert/appraiser.
• Information report on damaged/destroyed property submitted to the Register of Damaged and Destroyed Property.