The government on Thursday formulated a bill on the sale of seized real estate and moveable property which, according to Justice Minister Orsat Miljenic, introduces real prices and eliminates the black market, protecting the interests of creditors and debtors.
Under the bill, the sale of seized property will be transferred from the courts to the Financial Agency.
The government believes this system will be more transparent and more effective, resulting in real values and enabling buyers to obtain sales information in one place. This will increase the participation of buyers in public auctions and real estate is expected to be sold at higher prices than now, said Miljenic said.
Under the bill, the Financial Agency will keep a register of seized real estate and moveable property up for sale, instead of the Croatian Chamber of the Economy.
Prime Minister Zoran Milanovic said the enactment of the bill could also bring order to dealings with state-owned property. He said it often happened that state-owned premises let for 200 euros a month were sublet for 5,000 euros, whereby the state was significantly defrauded.
The government also sent to parliament an expropriation bill aimed at facilitating investment projects by shortening the expropriation procedure, from three years to one for strategic investment projects, for example.
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