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Additions and amendments to Law on property restitution and compensation

The Parliament has adopted on May 10, 2012, the Law 55/2012 `On some additions and amendments to the Law No.9235, dated 29.07.2004 `On property restitution and compensation`, as amended`.
Main changes on Law 9235/2004, as amended, are relating to amendment of the method used for property evaluation for compensation, which evaluation shall be done based on the real market value of the property, type and purpose of use of the property, in accordance with international standards on real estate property evaluation. However until enactment of the necessary subordinate rules, the evaluation of property shall continue to be done in accordance with previous rules and regulations.
Also the term for completion of the process of property restitution and compensation and the term for submitting new requests is extended until 30.04.2012.

Posted on 20 Jul 2012 by admin.e

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