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- The Transfer and Mortgage of Immovable Property (Amendment) Law of 2026 (N. 76(I)/2026) introduced significant amendments to the auction procedure for mortgaged immovable properties, strengthening the rights of debtors. Specifically, the deadline within which eligible debtors may submit a complaint to the Financial Ombudsman for confirmation of the required mortgage debt is extended from twenty-one (21) to thirty (30) days. Furthermore, the right to submit a complaint, which previously applied only upon receipt of a Form "IA" notice, is now extended to also cover the Form "I" notice. The revised Form "I" and Form "IA" notices now expressly inform debtors of their right to submit a complaint to the Financial Ombudsman within thirty (30) days.
- The Transfer and Mortgage of Immovable Property (Amendment) (No. 2) Law of 2026 (N. 101(I)/2026) introduced a further amendment to the auction procedure for mortgaged immovable properties. Specifically, the possibility of conducting an auction without a reserve price is abolished, and all auctions of mortgaged immovable properties must henceforth be conducted with a reserve price of not less than fifty per cent (50%) of the market value of the mortgaged property.
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