Law No. 516-IG on mortgage. Country/Territory Azerbaijan Document type Legislation Date 1998 Source FAO, FAOLEX Subject Land & soil Keyword Public land Agricultural land Ownership Land valuation Contract/agreement Geographical area Asia, CIS (Commonwealth of Independent States), Landlocked Developing Nations, Western Asia Entry into force notes The Law enters into force from the date of its official publication. Abstract Section 4 regards specific nature of mortgage (hypothecation) of land sites. It specifies that According to agreement on hypothecation, land sites in ownership may be given to mortgage. Hypothecation of land sites in collective ownership in residential areas, including those in towns, where in accordance with regulations on urban development it is prohibited to erect buildings and structures at specially protected territories and in zones, land sites intended for special use, belonging to state Full text English Website www.gateway.az