A legal basis is being created for the exchange of state-owned property (including state lands) with privately owned property, including land plots, based on mutual agreement.
elchi reports that this is reflected in the draft law “On amendments to the Land Code of the Republic of Azerbaijan, the Civil Code of the Republic of Azerbaijan, and the Law of the Republic of Azerbaijan ‘On Valuation Activity’,” which was discussed at today’s meeting of the Agrarian Policy Committee of the Milli Majlis.
State property (state lands) prohibited from privatization, as well as land plots that are under the exclusive ownership of the state or intended for state needs, cannot be the subject of an exchange. The valuation of the exchanged properties, including land plots, will be carried out by an appraiser in accordance with the Law “On Valuation Activity,” taking into account the market price formed during the sale and purchase of properties (land plots). Also, with the proposed amendment to the Law “On Valuation Activity,” state bodies (institutions) and municipalities will also acquire the status of a client for valuation activities.
It was noted that after the law is adopted, the procedure for exchanging state-owned property, including land plots, with privately owned property or land plots will be approved. The amendments will serve to ensure more efficient use of property and land plots, activate turnover in the land market, increase economic activity, create opportunities for more flexible property exchange between the state and citizens based on mutual agreement, and ensure the state’s participation in civil turnover on equal terms with other civil law subjects.