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Law on apartment ownership shifts mortgage clearance
Summary
Newly published regulations by the Ministry of Land allow a purchaser to get fully discharged by a financial institution on completing the payment of a loan.
Tuesday April 27 2021
By BRIAN NGUGI
Summary
Newly published regulations by the Ministry of Land allow a purchaser to get fully discharged by a financial institution on completing the payment of a loan.
Financial institutions like commercial banks will be required to immediately give up the full rights to individual apartment buyers when they finish paying up their mortgages or loans under new regulations aimed at boosting home ownership.