The Supreme Court, chaired by the Chairman of the Civil Board Sanan Hajiyev, ruled that the Civil and Commercial Boards should ensure the uniformity of judicial practice on the application of the law to the disputed legal issue of determining the initial sale price of the mortgage.
Gadin.Net reports with reference to publika.az that the Supreme Court has different legal powers in relation to the determination of the initial sale price of the mortgage in civil cases on the transfer of deductions under the loan agreement to the subject of the mortgage and the sale of mortgaged property at public auction. approaches have been identified.
Taking into account the analysis of the legislation, the court decided that according to Article 39.3.3 of the Law on Mortgage, the initial sale price specified in the court decision should be determined by the liquid price of the mortgaged property.
The ruling shall enter into force on the day of its publication.