LAW OF THE AZERBAIJAN REPUBLIC

of April 20, 2012 No. 335-IVQD

About introduction of amendments to the Housing code of the Azerbaijan Republic

Being guided by Items 12 and 13 of part I of article 94 of the Constitution of the Azerbaijan Republic, in connection with application of the Law of the Azerbaijan Republic "About the redemption of lands for the state needs" of April 20, 2010 the Majlis of the Azerbaijan Republic decides Millie's No. 987-IIIQ:

In the Housing code of the Azerbaijan Republic (Collection of the legislation of the Azerbaijan Republic, 2009, No. 8, Article 612; 2011, No. 12, Article 1108) to make the following changes:

1. Under Article 28:

1.1. add Article 28.4 with the second offer of the following content:

"In this decision, taking into account proposals of the independent appraiser, the court also establishes the price at which the apartment (residential building) will be offered for auction.".

1.2. add with Articles 28.4-1 - 28.4-6 following contents:

28.4-1. For the purpose of assessment of the apartments (residential buildings) which are in critical condition which are offered for open auction according to Article 28.4 of this Code the independent appraiser is attracted. The cost of the apartment (residential building) is determined on the basis of average value of 3 highest prices specified in the purchase and sale agreements of the apartment (residential building) similar to the redeemed apartment certified in notarial procedure within 3 last months. For cost determination of the apartment (residential building) on the basis of its market value market value of the apartment (residential building) similar to the redeemed apartment (residential building) which is effective on the territory covering up to 100 meters from the redeemed apartment (residential building), and in case of lack of the market connected with the apartment (residential building) in this territory - on the territory covering up to 250 meters from the redeemed apartment (residential building), and in case of lack of the market connected with the apartment (residential building) in this territory - on the territory covering up to 500 meters from the redeemed apartment (residential building) is taken as basis.

28.4-2. The organizer of open auction which is carried out in connection with sale of the apartment (residential building) which is in critical condition according to Article 28.4 of this Code in case of approach of one of the following cases publishes information that the auction did not take place in mass media in which the announcement of holding the auction was published:

28.4-2.1. if on auction less than two buyers were;

28.4-2.2. if there are no participants of auction;

28.4-2.3. if the participant who won auction refuses to sign the protocol on auction results;

28.4-2.4. if the participant who won auction does not pay completely redemption value of auction in time, established by the Law of the Azerbaijan Republic "About mortgage" for payment of redemption value of auction by person who won auction provided that this term will not be prolonged with the consent of the owner of the apartment (residential building).

28.4-3. The repeated auction is held no later than 45 calendar days from the date of holding the first auction.

28.4-4. The apartment (residential building) is submitted for repeated auction at the price, stipulated in Clause 28.4 of this Code and if the repeated auction is held for the reason, stipulated in Article 28.4-2.2 of this Code - at the price which is lower than this price for 15 percent. If at repeated auction one participant participates, the auction is declared valid, and in this case this person becomes the winner of auction.

28.4-5. If the repeated auction is announced cancelled for the reasons provided by Articles 28.4-2.2 - 28.4-2.4 of this Code, the relevant organ of the executive authority based on the decision of relevant organ of the executive authority no later than 60 days redeems the apartment (residential building) which is in critical condition at the price at least 25 percent from original selling cost at repeated auction.

28.4-6. Rules of holding the auction, stipulated in Article 28th of this Code, are established by the legislation.".

1.3. State Article 28.6 in the following edition:

"28.6. If the apartment (residential building) which is in critical condition concerning which the court confirmed impossibility of recovery, but the owner refused demolition or reconstruction and demolition in the term established by court did not observe, it will not be sold on open auction within three months according to Article 28.4 of this Code, this building shall be redeemed by the state.".

1.4. To exclude the words "31 or" from Article 28.7.

2. State Article 31 in the following edition:

"Article 31. The redemption of living space and (or) the parcel of land under it from the state

Rules of the redemption of living space and (or) the parcel of land under it for the state needs, the rule of calculation and payment of compensation with respect thereto, and also other relations arising between the parties in this sphere are regulated by the Law of the Azerbaijan Republic "About the redemption of lands for the state needs".".

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