12:34 - 17.09.2025

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September 17, Fineko/abc.az. The mechanism for changing priority rights in the repayment of mortgage claims is being improved.

ABC.AZ reports, referring to the proposed amendment to the Law on Mortgages, discussed at today’s meeting of the Parliamentary Committee on Economic Policy, Industry & Entrepreneurship.

The current law stipulates that this right may be changed on a contractual basis between mortgage holders. Under the draft law, it is proposed to notarize the agreement on changing the priority right to repay mortgage claims and register it in the state register of priority rights. When exchanging the priority right to repay mortgage claims between mortgage holders, the rights will be registered in the state register of real estate and the official register of movable property within 3 business days from the date of submission of the documents. Also, if the priority right to repay mortgage claims is changed, the state fee will be paid by the mortgage holder through whom the priority right has passed.

As a result of the adoption of the draft law, these rights will be recognized and approved in the state register by registering in the state register of real estate the preferential right to satisfy mortgage claims.