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