According to the lifetime maintenance contract (sample) one party (the alienator) transfers to the other party (the acquirer) the right of ownership of a residential building, apartment or part thereof, other immovable or movable property of significant value in exchange for the fact that the acquirer promises to provide maintenance and/or care for the alienator.
In the transfer of ownership of property, the primary purpose is to provide support, care and services, which includes both financial support and care.
The lifetime maintenance (care) contract is concluded in writing and notarized.
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Clients who contacted us, do not collect documents, this is done by specialists of the notary office.
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Maybe, but only after the alienator's death. During the life of the alienator, the acquirer cannot sell, exchange, gift or transfer the property to another person. During the life of the alienator, the property transferred to the acquirer under the contract cannot be levied on the acquirer's obligations.
The parties to a lifetime maintenance contract have the right to choose the amount, volume and frequency of providing material assistance, the types of assistance provided, and the frequency of its provision.
Yes, it can. A legal entity acquires civil rights and obligations and exercises these rights and obligations through its institutions, which act in accordance with the founding documents of the legal entity. If the acquirer is a legal entity, the notary checks whether the notarial act performed by him corresponds to the civil legal capacity of the legal entity and whether the representative of the legal entity has sufficient powers.
If the alienator is a co-owner of shared property, he can enter into a lifetime maintenance contract after determining his ownership share in the property or developing the procedure for using the property.
The monetary value of the aid is determined by the parties to the contract. In the lifetime maintenance contract, it is mandatory to specify that the property buyer is responsible for providing lifetime monetary maintenance, as well as all types of care and custody, which are determined by the parties to the contract.
In the case of the buyer's obligation to provide the alienator or a third person with housing in the house (apartment) transferred to them under the contract of lifetime maintenance, the text of the contract specifies the part of the housing in which the alienator must live.
The lifetime maintenance contract is terminated in the event of the alienator's death, with the exception of the obligation to bury the alienator.
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