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Law No. 497-V “On lease.”

Country/Territory
Turkmenistan
Document type
Legislation
Date
2017 (2018)
Source
FAO, FAOLEX
Subject
Forestry, Land & soil
Keyword
Forest management/forest conservation Public forest Lease Contract/agreement Ownership
Geographical area
Asia, Caspian Sea, Central Asia, CIS (Commonwealth of Independent States), Europe and Central Asia, Landlocked Developing Nations, North Asia
Entry into force notes
This Law enters into force on the date of its official publication.
Abstract

This Law regulates the economic, legal and organizational bases of lease relations and is aimed at developing the lease services market in Turkmenistan. Lease shall be intended transfer by the owner of property (including land and some other natural resources) or a person authorized thereby to natural person and (or) legal entity of a certain property or part of it for paid temporary use for autonomous performance of economic or other activities on the basis of a lease agreement. The subjects of the lease relationship are the lessor and the lessee. Property relations arising from lease agreements are governed by this Law. The object of lease can be any movable and immovable property and (or) thing, property rights that have a value, belonging to the owner, including land and other natural resources, with the exception of the property. Lessees have the right to voluntarily form associations, unions, consortia, concerns and other associations, finance their activities and freely leave them in accordance with the accepted statutes (regulations). These associations can include any collectives and citizens, regardless of forms of ownership acting on their production sites. For their part, lessees have the right to join any associations, if the latter agree to such entry. Depending on the type of property being leased, the purposes and conditions of the lease, the lease agreement may be concluded for a period of up to one year, up to five years, for five or more years. Lease of land plots, including part of the forest fund, is for long-term, with the exception of the lease of land plots provided for a period of up to five years for the placement of temporary structures. This Law contains IV Chapter divided into 20 Articles. Chapter I lays down general provisions. Chapter II regulates lease relations. Chapter III establishes the particulars of lease of some types of property. Chapter IV lays down conclusive provisions.

Full text
Russian
Website
minjust.gov.tm