The State Duma adopted in the first reading a ban on charging interest for overdue loans of the deceased

At a meeting on March 26, deputies of the State Duma adopted in the first reading a bill proposing to prohibit creditors from charging fines on overdue loans in the event of a client's death and if no one has inherited yet.

The document was initiated by a group of deputies led by Natalia Kostenko, deputy chairman of the State Duma Committee on Tourism from the United Russia faction.

The draft law provides that in the event of the borrower's death before his heirs enter into the inheritance, a credit institution cannot impose a fine for non-fulfillment of obligations, make demands for early repayment of loan amounts or loans, as well as foreclose on collateral or mortgages.

It is noted that this will also apply to relationships arising from the provision of consumer loans or loans, the obligations of which are secured by a mortgage.

Currently, the legislation does not prohibit the heirs of a deceased borrower from demanding payment of debts and imposing fines for non-fulfillment of loan obligations before entering into inheritance.

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On February 21, the head of the Committee for the Protection of Competition, Valery Hartung, and the leader of the Fair Russia — For Truth faction, Sergei Mironov, submitted amendments to the Tax Code of the Russian Federation to the State Duma, according to which the amounts of overpaid taxes will be returned to the relatives of the deceased. The amendments provide for the obligation of tax authorities to provide information on the availability of an overpayment amount in a single tax account of a citizen on the date of his death.