LAW OF THE AZERBAIJAN REPUBLIC

of May 7, 1999 No. 665-IQ

About the land market

This Law establishes bases of the organization of the land market and regulation of economic and legal relations in the land market in the Azerbaijan Republic.

Chapter I. General provisions

Article 1. Basic concepts

The concepts used in this Law express the following values:

* the land market - the economic and legal relations arising in processes of land turnover between state bodies, municipalities, physical persons and legal entities in connection with purchase and sale of the parcels of land, their transfer to mortgage, donation, and also change in other forms of the property right, the rights to use and lease;

* turnover of the parcels of land - change in the procedure for the property right, the rights to use and lease of the parcels of land, transition of lands established by the legislation of the Azerbaijan Republic from one category in another and transformation within categories.

Article 2. Legislation of the Azerbaijan Republic on the land market

The legislation of the Azerbaijan Republic on the land market consists of this Law, and also other legal acts of the Azerbaijan Republic.

If the regulations of the relations of the land market established by the interstate agreements supported by the Azerbaijan Republic will differ from the rules provided by this Law rules of international treaties are applied.

The relations in the field of the organization of the land market and regulation of economic and legal issues in the land market in the Alyatsky free economic zone are regulated according to requirements of the Law of the Azerbaijan Republic "About the Alyatsky free economic zone".

Article 3. Purpose and tasks of the legislation on the land market

The purpose of the legislation on the land market - establishment of general rules of the relations of the land market in the Azerbaijan Republic and ensuring protection of property rights on the earth.

Tasks of the legislation on the land market - creation of basis for the organization of the land market, coincidence in the market of interests of subjects and realization of their rights.

Article 4. Objects and subjects of the land market

The following parcels of land registered in the procedure established by the land legislation of the Azerbaijan Republic and the rights connected with the earth can be objects of the land market:

* the lands which are in private property;

* the earth of reserve fund of municipalities which can be privatized;

* the parcels of land which the legislation of the Azerbaijan Republic on mortgage are considered as mortgage subject;

* the parcels of land on which there are privatized state objects;

* consumer's and leasehold interests over the lands which are in the state-owned and private property;

* the right of the lease of land which is in municipal property.

Subjects of the land market are the Azerbaijan Republic, municipalities, legal entities and citizens of the Azerbaijan Republic, and also in the cases established by the legislation of the Azerbaijan Republic and procedure, foreigners, stateless persons, foreign legal entities, international associations, the organizations and foreign states.

On behalf of the Azerbaijan Republic in the land market relevant organs of the executive authority take part in limits of the powers.

Municipalities take part at the land market within the powers presented to municipalities by legal acts of the Azerbaijan Republic.

Legal entities and citizens of the Azerbaijan Republic in the land market can be owners, users, lessees, pledgers (ipotekodatel), pawnbrokers (mortgage holders), buyers, sellers and participants of other transactions.

Foreigners, stateless persons, foreign legal entities, international associations, the organizations and foreign states can sign agreements within the powers established by the legislation in the land market, except for land acquisition in property.

Article 5. Forms of agreements of the land market

In the land market the following agreements are performed:

* purchase and sale of the parcels of land;

* transfer of the parcel of land to authorized (equity) capital;

* mortgage of the parcel of land;

* exchange of the parcel of land;

* donation of the parcel of land;

* transition of the parcel of land to other person according to the procedure of inheritance;

* transition of the rights to use and lease of land to other person;

* rent of the parcel of land and other transactions provided by the law.

Chapter II. Organization of the land market

Article 6. The basic principles of state policy in the field of the organization of the land market

State policy in the field of the organization of the land market is based on the following principles:

* the organization of the land market in system procedure;

* obligation of state registration of land agreements and property right, right to use and lease of land;

* ensuring equality of subjects of the market in receipt of information on the land market;

* application of payment procedure of duties on the agreements signed in the land market;

* non-admission of transformation of private owners into land monopolists within administrative and territorial unit.

Article 7. Tasks of the state in the field of the organization of the land market

Tasks of the state in the field of the organization of the land market the following:

* implementation of agrarian policy of the state;

* development and approval of normative legal documents concerning rules of the organization of land auctions and tenders;

* preparation and approval of provisions and model agreements for execution of contracts for the property right, the rights to use and lease of land;

* broad promotion among the population of the rights and obligations of subjects of the land market;

* regular collection of the official information characterizing the land market, its announcement in special bulletins and media;

* state registration and aktirovaniye of the agreements signed in the land market and land rights;

* establishment of limits of the state fees connected with land agreements and rules of their payment;

* establishment of upper limit of the parcel of land which the private owner, taking into account local conditions on administrative and territorial units can acquire;

* other tasks determined by the land and civil legislation of the Azerbaijan Republic.

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