12:49 - 14.07.2025

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July 14, Fineko/abc.az. The sale of the object of mortgage will be carried out in a new order without going to court.

ABC.AZ reports that this is reflected in the proposed amendment to the Law on Mortgages, discussed at today’s Milli Majlis meeting.

According to the draft, when selling the object of mortgage, which is subject to foreclosure without going to court on the basis of a notarized agreement between the parties, the method of sale and the person responsible for the sale, the bidding procedure, including determining further procedures if the auction did not take place, the rights and obligations of the parties and the sale price of the property are determined by agreement of the parties.

In accordance with this, the provisions on the procedure for holding auctions, on the failed holding of an auction, and on the recognition of an auction as invalid are excluded from the law.
After discussion, the bill was put to the vote and adopted in the third reading.