21.07.2021

A m e n d m e n t s   t o   t h e   L a w   o f   t h e   R e p u b l i c   o f   A z e r b a i j a n   " O n   M o r t g a g e "  

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.

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