Africa-Press – Angola. The proposed law on the Fiduciary Alienation of Real Estate as Collateral, approved Wednesday (20) by the Angolan parliament, brings a set of structural advantages and profound changes aimed at boosting the real estate market, facilitating access to credit, and increasing legal security in housing acquisition operations in Angola.
According to the minister of Justice and Human Rights, Marcy Lopes, presenting the bill at the National Assembly, this instrument provides the market with a safer and more efficient mechanism to guarantee the fulfillment of credit obligations, allowing for faster execution of guarantees, reduced costs for the parties, and less dependence on judicial litigation.
The proposal also provides for the use of extrajudicial means that ensure the timely repayment of mortgage credit and regulate the sale, at public auction, of properties given as collateral within shorter timeframes than those applied in the general mortgage regime.
According to the government official, who represented the proponent of the law, the legislation introduces profound changes to the legal framework, defining fiduciary alienation as a contract by which the debtor transfers to the creditor the ownership or surface rights of the property, on a resolvable basis, until the obligation is fulfilled.
He clarified that the law applies exclusively to properties intended for housing and excludes social housing financed with public funds, properties rented before the entry into force of the legislation, and other properties subject to special regimes, such as those alienated under resolvable rent agreements.
According to the minister, these measures will allow the creation of an alternative legal and economic instrument, more modern and better suited to the current dynamics of mortgage lending.
Marcy Lopes recalled that Angola has a vast housing stock that remains partially idle due to difficulties in accessing credit, acquiring properties, and regularizing land rights.
The proposal therefore arises as part of the initiatives aimed at ensuring the realization of the Fundamental Right to Housing.
The law was approved in general with 112 votes in favor, none against, and 49 abstentions, and will now be debated and improved during the specialized discussion.
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