The lease issues are regulated by Civil and Commercial Codes of Ukraine both effective as of 1 January, 2002, and corresponding legal acts.
Under a contract of lease the lessor undertakes to provide the lessee some property for temporary possession and use or for temporary use. The right to transfer property on lease shall be vested with the owner of property or with the person to whom property rights belong. A person authorized to conclude a lease agreement may also be a lessee.
A lessee shall be charged for the use of property; the amount of charge shall be specified by a lease agreement. A lease agreement shall be concluded for the period specified by the very agreement. If a lease period is not specified, a lease agreement shall be considered concluded for an indefinite period. A lease agreement for the building or any other capital structure or a part thereof concluded for the period of three years or more shall be subject to notarization and state registration. Lease agreements of real estate concluded for less then three years must be executed in writing.
Together with the right to lease a building of any other capital structure of a part thereof shall be granted the right to use a land plot underneath this structure and the right to use the area adjacent to the building of structure in the size needed to reach the purpose of lease.
The above is intended to provide a brief guide only. It is essential that appropriate professional advice is obtained. Our company will be glad to assist you in this respect.
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