COMMENTS ON NEW SERBIAN LAW REGARDING PROPERTY COMPENSATION AND RESTITUTION OF COMMUNIST ERA CONFISCATED PROPERTY TO THEIR RIGHTFUL OWNERS WHO ARE LIVING IN THE USA AS US CITIZENS OR LEGAL RESIDENTS ;
HOW TO REACH OUT TO THOUSANDS OF PROPERTY OWNERS OR THEIR FAMILIES WHO LIVE IN USA AND HELP THEM TO REGAIN THEIR PROPERTY BACK IN SERBIA PROPER ?
US citizens of Serbian descends who owned property in Serbia before the II world war are entitled to property restitution or compensation through Serbian state issued bonds ,relatives or descendents of deceased Serbian born US citizens who possessed such property are also eligible for compensation /restitution providing they can prove family ties or direct relation to original property owners by registering in Serbia and filing request for property restitution or compensation with restitution board in Serbia .
Process of restitution in Serbia gives an opportunity to US based Law firms to step in and inform large Serbian immigration corpus in US about their rights related to restitution process and to represent them in Serbia ,also it should be noted that large proportion of the property which is subject of either restitution or compensation used to belong to members of Serbian Jewish community which mostly perished during II world war so there is a possibility that distant relatives and family of deceased property owners of Jewish/Serbian descent are not aware of their rights or possibilities for restitution.
So to conclude once again -Many thousands of such eligible owners living in the USA are not aware of such laws or they are even unsure what kind of property they have back home in Serbia ,how much is worth or how to obtain proof of ownership in the case if they inherited such property from their grandparents,parents or close relatives.
Serious law firm or private investor could step in and help such claimants to exercise their right by law and to get back their property .
The National Assembly of the Republic of Serbia [official website] approved a restitution law that provides for compensation or the return of property confiscated by communist authorities following World War II. The bill, passed by an overwhelming majority [AP report], is part of a larger property rights reform package that is key to Serbia's bid to join the European Union (EU) [official website], which is up for review next month. The law invites property owners or their heirs to register by 2014 in order to claim confiscated property or receive compensation which will be funded by a 15-year bond [Bloomberg report] not to exceed two billion euros. The International Monetary Fund (IMF) [official website], which approved the maximum bond amount, is expected to announce a one billion "precautionary" loan program with Serbia to avoid economic instability.
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