Azerbaijan: Amendments to the Law of the Republic of Azerbaijan “On Mortgage”
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On June 21, 2021, amendments were made to the Law “On Mortgages” (“Law on Amendments”).
According to the Law on Amendments, if the repeated auction does not take place, the mortgagee and the organizer of the auction sign a protocol on the acquisition of mortgage property by the mortgagee within 30 calendar days, and this protocol is considered an agreement.
The content of this article is intended to provide general guidance on the subject. You should seek professional advice regarding your specific circumstances.
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