Publication date: 19.05.2024
I constantly strive to develop and acquire new knowledge, my experience and additional education confirm this.
How to conclude a lifetime maintenance contract
A maintenance contract is an agreement between two parties, usually between a real estate owner and a person who provides care or maintenance services, in which one party agrees to transfer the property to the other party for ownership or use, and the other party agrees to provide certain maintenance services , care or maintenance throughout the life of the person who transferred the real estate.
Lifetime maintenance contract (lifetime care contract) in Ukraine is concluded with the purpose of ensuring the maintenance and care of a person (alienator) until the end of his life in exchange for ownership of real estate. The conclusion of such an agreement has several important stages and requirements.
The main steps of concluding a lifetime maintenance contract in Ukraine
Preparation for the conclusion of the contract:
1. Selection of parties: the alienator (the person who needs care) and the acquirer (the person who provides care) agree on the main terms of the contract.
2. Appraisal of real estate: it is recommended to conduct an appraisal of the property that will be transferred under the contract.
Legal advice:
Consultation with a lawyer: it is worth contacting a lawyer to make sure that all the terms of the contract are clear and in accordance with the current legislation of Ukraine.
Drafting of the contract:
1. Basic provisions of the contract: complete data on the parties to the contract.
2. Description of the transferred real estate.
3. Obligations of the acquirer regarding maintenance and care of the alienator.
4. Duration of care (usually until the alienator's death).
5.Other terms agreed to by the parties (for example, additional services or payments).
Notarial certificate of the contract:
1. Notary public: the lifetime maintenance contract must be certified by a notary public. This is a legal requirement to ensure the legal force of the document.
2. Necessary documents for the notary: passports and identification codes of the parties.
3. Title documents for real estate.
4. Property valuation (if necessary).
5. Documents confirming the absence of arrears on utility payments or other obligations related to the property.
Registration of the contract:
State registration: After certification by a notary public, the lifetime maintenance contract is subject to state registration in the State Register of Real Property Rights. This is a mandatory procedure that confirms the transfer of ownership.
Fulfillment of the terms of the contract:
1. Provision of care: the acquirer is obliged to fulfill all the terms of the contract regarding the maintenance and care of the alienator.
2. Control and reporting: it is important to ensure that contractual obligations are properly fulfilled. The alienator or his representatives can control the performance of the contract.
Termination of the contract
1. The contract is automatically terminated from the moment of the alienator's death.
2. The contract can be terminated by mutual consent of the parties, which must be notarized.
3. Judicial termination: In case of non-fulfillment of obligations by the buyer, the alienator has the right to apply to the court to terminate the contract and return the property. Important aspects
Tax consequences: the buyer must consider the tax consequences of acquiring the property and fulfilling the terms of the contract.
Legal risks: It is important to consider all possible legal risks and carefully prepare the contract by involving an experienced lawyer.
The conclusion of a life maintenance contract in Ukraine is an important and responsible step that requires a careful approach, compliance with legal requirements and legal support.
