Starting from January 1, 2020 each of approx. two million owners of apartments, houses and/or summerhouses in Azerbaijan may be penalized for non-payment of insurance policy on compulsory real estate insurance. It ought to be noticed that the Law on Compulsory Real Estate Insurance was adopted in Azerbaijan on July 24, 2011, came into effect in a month; however, it will be enforced in 2020 unless President annuls the Law or extends its moratorium...

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