Insurance of apartments without documents is impossible – Expert`s statement


October 18, Fineko/abc.az. A few days ago ABC.AZ reported that starting from the next year persons who have not insured their housing will be fined.

This news again led to the actuality of the topic of unregistered apartments.

So, some argue that currently there are a large number of unregistered apartments without documents, that make it difficult to insure them.

How will unregistered apartments be insured? With this question we addressed to insurance expert Khayal Mammadkhanli.

Before replying the question, the expert told to portal ABC.AZ that indeed, this law was adopted in 2011 and the special part of the law on compulsory insurance reflected the issues of "compulsory insurance of real estate". Mammadkhanli points out that even in compliance with the Code of Administrative Offences, the amount of fines have been determined since that time: "Just if compulsory insurance is more or less applied towards legal entities, the law has not been applied to individuals. However, when performing certain notarial actions with real estate, they were forced to conclude an insurance contract.

The main problem is that the register data of the Compulsory Insurers Bureau (CIB) and the State Committee on Property Issues were not integrated, that prevented the issuance of contracts through the CIB. Currently, this problem is being solved. This means that, as well as with car insurance, when a unique code from the extract is added to the insurance contract, all data about this property will be extracted from the property register and the conclusion of the contract will be simplified," the expert said.

As for the insurance of unlicensed apartments, Mammadkhanli underlined the seriousness of this problem: "Only in the territory of Baku and Absheron there are hundreds of thousands of unregistered buildings. I can say insurance of those apartments is hardly possible because of the lack of official documents confirming the right to property, and, of course, fining in such case is also impossible. At present, serious works on licensing of buildings are carried out at the government level. The completion of these works will eliminate the existing problems not only in the field of real estate insurance, but even in dozens of other spheres."

By Elmir Murad