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Contract law. Types of annuity agreement (the most important)

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40. TYPES OF RENT CONTRACT

Constant annuity.

Both citizens and non-commercial organizations can be recipients of permanent rent, if this does not contradict the law and corresponds to the goals of their activities.

The obligation to pay this annuity is not limited to any specific period.

As a result, the law provides for the possibility of transferring the rights of a rent recipient to other citizens or non-profit organizations as a result of a transaction (assignment of a claim) or inheritance or succession in the reorganization of legal entities, unless otherwise provided by law or contract.

Payment of a permanent annuity made in cash in the amount determined by the contract. However, the contract may also provide for its payment by providing things, performing work or providing services that correspond in value to the monetary amount of the rent. The frequency of payment of a permanent annuity is determined by the contract, in the absence of such a condition in it, the annuity must be paid at the end of each calendar quarter.

The permanent annuity agreement may be terminated if the payer refuses to further pay the annuity by buying it out, as well as in the case of a demand for such a ransom by the recipient of the rent. The payer has the right to refuse to pay rent by buying it out no earlier than 3 months from the date of a written application to the recipient about the refusal, unless a longer period is provided for by the contract.

Life annuity.

Unlike a permanent annuity, only citizens can be recipients of a lifetime annuity. It is established for the period of life of a citizen who transfers property against the payment of rent, or another citizen indicated by him.

In the event of the death of the recipient of the annuity, the obligation to pay it is terminated. Unlike a permanent annuity, the right to receive a life annuity is not inherited and cannot be transferred by assignment of the right to claim.

Life annuity may be established in favor of several citizens, whose shares in the right to receive it are recognized as equal, unless otherwise established by the agreement. Such an obligation terminates in the event of the death of its last recipient.

Life support with a dependent - a kind of life annuity - an agreement by virtue of which the recipient of the rent - a citizen transfers his residential house, apartment, land or other real estate to the ownership of the rent payer, who undertakes to provide life maintenance with the dependence of the citizen and (or) the third person or persons indicated by him .

Author: Rezepova V.E.

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