Azerbaijan President Signs Decree on Improvement on Issue of Mortgages

Politics Materials 24 January 2007 13:50 (UTC +04:00)

The President of Azerbaijan, Ilham Aliyev, signed a decree on the improvement of the system of issuing mortgages, Trend reports.

Changes will be implemented to some laws, including the laws on Land Reforms, Land Market, Execution of Sentences, the Land Code and the Code of Administrative Violations.

At the ruling of the Azerbaijani President, the Cabinet Minister is committed to develop and present proposals on injecting changes and supplements to the legislative acts in connection with the application of the Law on Mortgage. Thus, the Law on Security becomes ineffective due to the application of the Law on Mortgage.