Azerbaijani Construction Company to Issue Ownership Deeds
Azerbaijan, Baku / corr Trend U.Ismayilova / Akkord, the industrial and construction company, will issue ownership deeds. The company said that this will confirm confirms the client's exclusive right in the purchase and sale of an apartment built by Akkord.
The ownership deeds contain a clause that states that no-one except the person who holds this document officially has a right to sell the apartment. The holder of the deeds has the right to demand from Akkord to move into the apartment on the date agreed. The holder of the deeds has the right to demand financial damages if the agreement is cancelled by a seller. The holder also has access to information on the process of construction of the acquired apartment.
An ownership deed is a type of security for individuals and companies. By issuing the ownership deeds, these companies undertake obligations to the holders of these certificates.
The ownership deeds enable the construction companies to attract funds from the public beforehand to build new and renovate existing buildings, as well as conclude the construction of unfinished facilities.