Contract for lease in agriculture. Termination of the lease agreement.
Contract for lease in agriculture. Termination of the lease agreement.
With the lease agreement, the lessor undertakes to provide the lessee with the object of the agreement for temporary use, and the lessee - to make a certain rent payment. The productions from the leased objects become the property of the lessee from the moment of their separation.
The contract is bilateral, remunerative and consensual. This means that it creates rights and obligations for the parties from the moment of reaching an agreement. For a contract to be valid, it must be concluded in writing with notarization of the signatures of the parties executed simultaneously.
Lease contracts, as well as agreements for their amendment or termination, concluded in writing with notarization of the signatures of the parties, are entered in the registry office and registered in the relevant municipal agricultural office.
A lease contract can be concluded with an owner, co-owner of agricultural land, whose ownership is more than 50 percent of common shares of jointly owned property, or with a person authorized by the owner or co-owners who jointly own more than 50 percent of common shares with him from the joint property
This contract has no material effect. The subject of the lease agreement is the agricultural land and/or real and movable property for agricultural production.
The lessor must hand over the object of the contract to the lessee in a condition that corresponds to its use under the contract, and maintain it in this condition for the duration of the lease. The handover is carried out with a protocol - inventory.
Maintenance required due to the ordinary use of the object of the contract, including residential and farm buildings, roads, ditches, irrigation and drainage systems and other service objects of the contract facilities and fences, is at the expense of the lessee.
The minimum term of the lease agreement is five business years.
Termination of the lease agreement
The rental agreement is terminated:
- upon expiry of the term for which it was concluded,
- in case of default - according to the general rules,
- by mutual agreement of the parties, expressed in writing with notarization of signatures,
-with unilateral notice
- with the death or placement of the lessee under prohibition, respectively with the termination of the legal entity-lessee, as far as the contract does not provide otherwise,
- in case of forced expropriation of leased land for state and municipal needs.
The termination of the land lease contract is entered in the registry office and registered in the relevant municipal agricultural office.
Attorney at law Iuila Danova
#3, Dobrotica Str., Varna, Bulgaria
Mob: +359 895 64 59 40
WWW: advokatvarna.com
Email: iulia.danova@abv.bg