From 20 February 2011 amendments to the Act on Land Registers and Mortgage are effective. The main goal of the amendment is to simplify the procedure for establishing mortgage.

The most important change is the abolition of the division of a mortgage on a regular and capped. Those two mortgages are replaced with the new one.
According to the new regulations, the new mortgage will secure not only the existing claims but also the future claims of the defined amount. In practice, therefore, it will be possible to secure both the loan amount and interest accruing from it. The amendment to the Act on Land Registers and Mortgage unifies the mortgages and introduces one type of contractual mortgage based on the existing provisions concerning the ceiling mortgage.

Maciej Wielogórski, Kancelaria Prawna Wielogórscy, maciej.wielogorski@wielogorscy.pl