What You Need to Know About Property Lease Agreements: Rights, Obligations, and Leasing with ALMUDA

Lease Agreement: Key Things You Should Know

A lease agreement is a contract under which the lessor transfers property to the lessee for temporary possession and use in exchange for payment.

What can be leased?

Lease objects may include:

• land plots;
• buildings and structures;
• equipment;
• vehicles;
• other non-consumable property.

Contract form and registration

• If the lease term exceeds one year, the agreement must be in written form.
• If one party is a legal entity, written form is mandatory regardless of duration.
• Lease agreements for real estate must be state-registered.

If the lease term is not specified

The agreement is considered open-ended.Either party may terminate it by written notice:

• 1 month in advance, or
• 3 months for real estate, unless otherwise agreed.

Transfer of property

The lessor must transfer the property:

• in proper condition;
• with required documents (technical passport, certificates, etc.).Transfer is confirmed by a handover act.

How is rent determined?

Rent may be set as:

• a fixed amount;
• a share of income;
• services;
• or another agreed form.

⚖️ How ALMUDA can help

ALMUDA provides legal support for lease agreements:

• drafting and review of contracts;
• registration and compliance consulting;
• real estate transaction support;
• legal assistance for businesses and entrepreneurs.All services are available digitally via the ALMUDA platform.