Mortgage Contracts: New Registration Entities

On December 30, 2024, the Argentine Securities Commission (CNV) issued General Resolution 1043, which regulates article 10 of the Emergency Decree 1017/24. This Decree had established several measures to promote and consolidate a robust and sustainable mortgage loan market.
 

According to the Resolution, registry and payment agents (ARYP), clearing houses, markets and central securities depositary agents (ADCVN) registered before the CNV, and financial institutions authorized under the Financial Entities Law 21526, may register—outside the scope of the capital market and the CNV oversight—bills of sale and other contracts related to units built or planned under the horizontal property regime or other land subdivision regime. These contracts must promise the transfer of real ownership or surface rights for future properties that cannot yet be possessed due to insufficient construction progress.

These activities are classified as related or complementary, provided that the CNV is informed in advance.

Requirements for entities

Authorized entities must:

1. notify the CNV before beginning to provide the service,
2. clearly inform the public and include in all related communications that the CNV does not supervise or control these activities.

In addition, agents registered in the CNV must:
 

1. notify CNV about the provision of these services as related and/or complementary activities, either at the time of registration in the corresponding registry or, after obtained, before starting to develop the activity,
2. maintain an up-to-date record of all related and/or complementary activities perform,
3. adopt measures to ensure that related and/or complementary activities do not interfere with their primary functions or compromise compliance with their obligations and responsibilities assumed,
4. refrain from using or advertising the CNV registration in connection with any related and/or complementary activities, immediately inform the CNV of any event or circumstance that affects or may affect the scope, operation, or development of related and/or complementary activities