Law No. 497-V On lease.

This Law establishes the legal framework governing lease relations in the country, defining key concepts such as lease, lessor, lessee, lease object, lease payment, sublease, and transfer of lease rights. The Law applies to movable and immovable property that may be leased, while excluding objects withdrawn from circulation or restricted by law. Both individuals and legal entities, including state bodies where authorized, may act as participants in lease relations.
The Law sets out detailed rules on lease agreements, including their formation, content, duration, amendment, and termination. A lease agreement must define the parties, the lease object and its intended use, the lease term, payment amount and procedure, and the rights and obligations of each party. Lessees are generally granted operational independence in using leased property and may, under certain conditions, sublease the property or transfer lease rights. The Law regulates lease payments, allowing them to be set in monetary or in-kind form, and outlines principles for their calculation, modification, and timing. It also clarifies ownership during the lease, confirming that lease does not transfer ownership unless otherwise provided by law or contract.
Separate chapters address the specific features of leasing different types of property, including equipment, vehicles, buildings, structures, land plots, residential premises, and state property. Special rules apply to state-owned property, with authorized bodies acting as lessors under procedures approved by the Cabinet of Ministers. The Law further regulates taxation of lease participants, liability for breach of obligations, and dispute resolution through negotiation or courts.