Konstitusiya Məhkəməsi

Konstitusiya Məhkəməsi

Following the demise of a debtor, a lawsuit is set to be filed against certain heirs, as announced by the plenum of the Constitutional Court on May 23. According to the court's decision, "heirs who have accepted the inheritance subsequent to the debtor's death will be jointly responsible for the debts owed to the inheritor's creditors, in proportion to the share of the inheritance received, starting from the date of the inheritance opening."

The Association of Insurers of Azerbaijan (ASA) has clarified to Turan that this ruling does not apply to mortgage loans issued by authorized banks, which are financed by the Mortgage and Credit Guarantee Fund. ASA stated that such loans are insured by life insurance companies for the amount of the mortgage loan taken by the borrower.

MP Vugar Bayramov further explained that even in the majority of domestic mortgage loans, life insurance is a primary requirement. He stated, "From this perspective, if there is insurance not only for mortgage loans and mortgages provided by the Guarantee Fund but also for domestic loans, then there are no liabilities left for the heir."

Lawyer Akram Hasanov expressed concern about the very aspect of insurance. He told RadioAzadlig:  "Firstly, the vast majority of loans in Azerbaijan do not include borrower life insurance. Even in mortgage cases, life insurance is only applicable when a loan is obtained through the Mortgage and Loan Guarantee Fund. However, there are banks that offer mortgage loans independently, and in such cases, the borrower may or may not desire life insurance. Additionally, even if there is life insurance within the Mortgage and Loan Guarantee Fund, it does not automatically guarantee that the insurance company will cover the debt."

The lawyer pointed out that it is plausible that the insurance company might have ceased operations or become bankrupt by the time of the individual's passing. In such circumstances, the company could once again pursue the deceased's heir for the debt. Moreover, when an insurance company provides life insurance, it typically requires the individual to complete a questionnaire about their existing medical conditions. If the insured person dies from an undisclosed ailment, and the insurance company can prove that the person had the illness at the time of filling out the questionnaire, but chose not to mention it, the insurance company may refuse to pay the debt.

 

Lawyer Akram Hasanov expressed concern about the very aspect of insurance. He told RadioAzadlig: 

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