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November 15, 2023

Lease Agreements Under New Civil Transaction Law

Introduction Lease Agreements are very common and cover not only movable and immovable properties but also benefits and rights that can be used, utilized and exploited.  A properly drafted and well-executed lease agreement protects the rights of all parties. Rent Similar to provisions related to determination of price for purchase and sale, the Law enables parties to decide on rental amount based on certain sound criteria. The rent could also be based on a lump sum amount plus a specific percentage of the proceeds or profits.  Besides, the parties may agree on the mode and period of payments[1]. In case, only aggregate rent is indicated in the agreement covering several units without mentioning rent for each unit; the rent will

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