Regulatory Alerts2022-11-18
Regulation on Compiling a Mortgage Paper that Establishes the Mortgage Right Over Real Estate
The Cabinet of Ministers of Azerbaijan issued this regulation to standardize the compilation, state registration, and termination of mortgage papers over real estate through a centralized electronic system operated by the Ministry of Economy. Mortgagors and debtors must draft these papers using a strengthened electronic signature, providing detailed obligation and property data, while the Ministry processes state registration within one business day following fee payment and compliance verification. The framework also mandates additional state registration for changes in underlying obligations or transferred rights, ensuring all endorsements, notifications, and terminations are digitally archived and legally formalized.
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