Regulatory Alerts2023-02-13
Law of the Republic of Azerbaijan on Mortgage
The Republic of Azerbaijan enacted this Law to regulate the creation, state registration, and enforcement of mortgages on real estate and movable assets securing civil law liabilities. It mandates written, notarized mortgage agreements subject to state registry recording and introduces dematerialized mortgage papers that grant holders priority foreclosure rights without additional evidence. The legislation comprehensively defines secured claim components, establishes clear priority hierarchies for subsequent and joint mortgages, and integrates electronic government systems to streamline registration procedures and state fee collection.
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