Azerbaijan:
Amendments To The Law Of The Republic Of Azerbaijan "On Mortgage"
28 July 2021
GRATA International
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On June 21, 2021 an amendment was made to the Law on "On
Mortgage" (“Amendment Law”).
According to the Amendment Law, if re-auction fails to take
place, mortgagee and auction organizer shall sign a protocol on the
acquisition of the mortgage property by the mortgagee within 30
calendar days and the protocol qualifies as a contract.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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