The Government adopted Wednesday an amendment to Ordinance 20/1994 concerning measures to reduce seismic risks.
The law says projects for the consolidation of privately-owned homes are financed entirely from the state budget, but the owners have to repay the cost in equal monthly installments over a maximum of 25 years. To this end, a mortgage is secured on the home.
The amended act eliminates this requirement, which, the Government argues, has caused significant delays in the consolidation of multi-storey dwellings included in seismic risk class I. Instead of a mortgage, the project beneficiary must register the local authority’s right to claim with the property registry.