(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 29. The notary
procedure for approving decision-making agreements on objects of
the State Real Estate Register has been changed in Azerbaijan,
A bill amending the Civil Code of the Republic of Azerbaijan was
submitted for discussion at the Parliament's plenary session on
According to the changes, the relevant rights will be registered
based on the e-copy of a notarized real estate decision-making
agreement, transmitted in real time through the e-government
information system. This agreement will be regarded as an
application for registration of ownership and other property rights
stemming from it in the State Real Estate Register.
Another amendment is related to the deposit. Following the draft
law, a deposit agreement must be notarized, if it is bound up with
the signing of a real estate decision-making agreement, and the
rules envisaged by Article 225.6 of the Civil Code apply to the
recipient of the deposit.
The document was put to the vote in the Azerbaijani Parliament
and adopted in the third reading.
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