The law requires banks to independently remove mortgages and pledge rights after loans have been fully repaid, easing the burden on debtors who no longer need to collect documentation, pay fees, or hire notaries. The National Consumer Organization of Serbia warns about issues with outdated bank documentation, which can complicate the removal process and pose obstacles for citizens. Citizens are urged to check the status of their properties and request proof of mortgage removal, as they have the right to initiate lawsuits and complaints to regulatory bodies if banks fail to comply. This change represents significant relief for debtors but also presents practical challenges due to data inconsistencies within banks.
Political Perspectives:
Left: Left-leaning outlets emphasize consumer protection and the rights of debtors, highlighting the importance of the law in relieving citizens from bureaucratic burdens and preventing banks from exploiting outdated documentation to the detriment of clients. They focus on the need for transparency and accountability from banks and support for citizens to assert their legal rights.
Center: Center-leaning sources present a balanced view, acknowledging the legal changes as a positive step towards simplifying financial processes for debtors while also noting the practical challenges banks face with outdated records. They stress the importance of both consumer vigilance and bank compliance to ensure smooth implementation of the law.
Right: Right-leaning perspectives focus on the responsibility of banks to comply with the law and the importance of maintaining order in financial transactions. They may emphasize the risks of legal actions against banks and the need for efficient administrative processes, while also warning citizens to be proactive in protecting their property rights.