Life maintenance contract: a special form of agreement
Ukrainian legislation makes it possible to conclude sometimes really unique contracts! Such an agreement can be identified as an agreement on the maintenance of a person for life. In the contractual sphere, they are not widely popular, however, the institution of life maintenance is considered to be sufficiently studied and detailed in the legislation.
A life maintenance agreement is an agreement between two parties, in which one party undertakes to transfer real estate or movable property of significant value to the other, and the recipient of such property undertakes to maintain and (or) care for the alienator for life.
In recent years, the trend towards concluding life maintenance contracts has increased significantly, so the demand for concluding such contracts has increased proportionally. With this in mind, our lawyers decided to answer frequently asked questions, outline the main conditions, etc.
If it is necessary to draw up an individual agreement on life maintenance, we recommend using the legal services of the Consultant to order a turnkey document.
Basic rights and obligations of the parties to a life maintenance agreement
Most of the obligations under the life maintenance agreement are assigned to the acquirer. This is motivated by the proportionality of obligations, because as a result, the acquirer receives ownership of real estate or valuable movable property.
Such contracts, in the best possible way, fix the most detailed conditions for the care of the alienator. This may include:
Type, quantity and frequency of nutrition;
Ensuring medical examination, proper examinations;
Providing housing to the alienator (including indications of the specific parameters of such housing);
The nature and types of material support of the alienator;
Any other kind of care for the alienator.
Obligatory daily walks in the fresh air, provision and leisure for the alienator, etc., may also be additionally indicated. But these are nuances that are rarely used in practice.
Usually, the question of the content of the alienator concerns precisely the provision of basic needs and the maintenance of conditions for the full-fledged normal existence of an individual.
The alienator, in turn, undertakes to transfer real estate or movable property of significant value to the ownership of the acquirer, subject to the terms of the contract.
In fact, the ownership of the property passes to the acquirer at the time of state registration of such an agreement. That is why such contracts are mandatory for notarization.
What to pay attention to when concluding a life maintenance contract?
The life maintenance contract is subject to state registration, therefore there are no certain significant points that require special attention.
However, our lawyers advise paying attention to the specificity and detail of such an agreement. Please note that the more detailed the contract, the rights, obligations and responsibilities of the parties, the less the risk of disputes.
In particular, it is necessary to pay attention to the obligations of the acquirer. Since the alienator is theoretically more interested in detailing his needs and, accordingly, the obligations of the acquirer, such a list of obligations can be submitted for additional study and agreement between the parties.
If it is necessary to analyze the contract for life maintenance or develop an individual document, we suggest using our legal services "Consultant". Our experts will be able to provide the best assistance in preparing the document, and, if necessary, create a completely new one in accordance with your situation.
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