Real estate law services

8 October 2023by info@acon.az

Legal Essentials for Property Buyers and Sellers

Our property lawyers in Azerbaijan offer comprehensive consultancy services for real estate law services. We specialize in ensuring the smooth registration of company and property rights and resolving property and land disputes.

The Azerbaijani real estate market is highly dynamic, and characterized by numerous regulatory changes. This necessitates a professional and expert approach to all money transactions. In today’s environment, both businesses and individuals are keen on meticulous documentation to mitigate ownership risks and financial losses.

Purchasing Property in Azerbaijan

Our seasoned property lawyers excel in representing clients throughout the entire property acquisition process, particularly when foreigners are buying real estate or land in Azerbaijan. Relying solely on the recommendations of real estate agencies can be a risky decision due to their limited expertise, lack of legal knowledge, and potential conflicts of interest.

Based in Baku, our real estate lawyers stand ready to assist clients with the initial property inspections, document verification, ownership status assessment, and consultancy during the transfer of property rights. We ensure clients receive the necessary title documents for their acquired properties.

Purchasing Land in Azerbaijan

It’s important to note that Azerbaijani law prohibits land purchases by foreigners. However, practical business situations often require foreign clients to own and control land, either directly or indirectly. Any unintentional land ownership by a foreign citizen, such as through inheritance or gift, must be rectified within one year. Our property lawyers are highly experienced in providing alternative solutions tailored to the client’s needs and business interests, ensuring compliance with Azerbaijani law.

With our lawyers’ guidance and expertise, acquiring land in Azerbaijan becomes possible, with clients benefiting from legal, optimized, and flexible solutions that also consider potential future land sales.

Our Real Estate Lawyer Services in Baku

Azerbaijan’s real estate market, particularly in Baku, has attracted significant interest from foreigners seeking residence, rental income, or immigration based on property purchases. At our firm, we specialize in advising clients on all legal aspects of buying, selling, renting, and leasing properties. Our services encompass property rights protection, documentation, and registration, ensuring compliance with all legal requirements.

Our comprehensive legal and consultancy support for property purchases in Azerbaijan includes:

  • Preparation, review, and negotiation of all legal documents related to real estate interests.
  • Expert guidance for foreigners on real estate transactions.
  • Assistance with rental and lease contracts, including built-to-suit transactions.
  • Handling real estate documentation and registration.
  • Managing assets for corporate mergers and acquisitions.
  • Providing foreclosure and lien consultation for businesses.
  • Handling bankruptcy and liquidation involving asset management.
  • Facilitating land acquisition and registration, as well as other real property transactions.
  • Expertise in real estate taxation and property management agreements.

A common question we encounter is whether foreigners can purchase property in Azerbaijan and whether the type of visa matters. The answer is yes, foreigners can buy property in Azerbaijan, irrespective of their visa type. However, there are restrictions on land purchases that should be considered.

Steps and Recommendations for Property Purchase in Baku, Azerbaijan

When navigating real estate transactions and land acquisitions in Baku, we recommend the following steps:
  • Verify the documentation status of the property and ensure the seller’s property rights are properly registered.
  • Calculate the real estate transaction tax (income tax of the seller) in advance and factor it into the negotiation of the property’s price.
  • Before signing the purchase agreement, conduct a thorough technical inspection of the property to assess its condition
  • Confirm that there are no third-party rights, claims, charges, mortgages, or liens on the property before proceeding with the purchase.
  • Remove any registered individuals associated with the property before or during the registration process, with a specific payment arrangement in place until this obligation is fulfilled.
  • After notary-approved sales transactions, complete the ownership rights registration through an online notary process.

Conclusion

With our expert legal guidance and support, your real estate transactions in Azerbaijan will be smooth, secure, and compliant with all legal requirements. Trust our experienced team of property lawyers to safeguard your interests and investments in this dynamic market. Please contact us for any questions or consultancy.

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AZ1025, Azure Business Center, Office 165B, Baku, Azerbaijan
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ACONOffice
Reach out or visit our office to access ACON's exceptional services for your needs.
AZ1025, Azure Business Center, Office 165B, Baku, Azerbaijan
OUR LOCATIONSWhere to find us?
Law firm in Azerbaijan Footer Map
GET IN TOUCHACON Social links
Follow us on social media to stay updated and connected with ACON!
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