The Milli Majlis (National Assembly) of Azerbaijan has approved, in the first reading, a draft law introducing amendments to the Land Code, the Civil Code, and the Law on Valuation Activity. The legislative package aims to streamline the management of state assets and optimize land use across the country.
According to the Operative Information Center-OMM, the new legislation establishes a legal framework for the exchange of state-owned property, including land plots, with privately owned assets based on mutual agreement. This mechanism is designed to facilitate more flexible property transactions between the state and private entities.
However, the law explicitly excludes certain categories from this process. State property that is prohibited from privatization, assets under exclusive state ownership, and land designated for state needs cannot be subject to such exchanges.
The valuation of the properties involved will be conducted by professional appraisers in accordance with the Law on Valuation Activity, taking into account current market prices. The amendments also grant state bodies and municipalities the status of clients for valuation services. Once the law is fully enacted, specific procedures for these exchanges will be formally approved.
These legislative changes are expected to enhance the efficiency of property and land management, stimulate activity in the land market, and increase overall economic engagement. By allowing the state to participate in civil circulation on equal terms with other legal entities, the government aims to create a more dynamic and transparent environment for property transactions, benefiting both the state and citizens.
The Milli Majlis, as the supreme legislative body of Azerbaijan, plays a critical role in shaping the country's economic and legal landscape. These amendments reflect ongoing efforts by the government to modernize administrative procedures and improve the investment climate within the Republic of Azerbaijan.
