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Registration of lease contracts Thursday, 16 September 2010 04:12
Chapter 4
Registration of lease contracts (Articles 20-26)
Article 20
Registration of rental contracts (20-26)
Article 20
1- The Ministry will establish an office or more under the name, ‘Real Estate Lease Registration Office’.
Officials at the office will register real estate leases covered by the provisions of this law and prepare the records necessary to do so.
2- Contracts have to include tenants’ and landlords’ names, their nationality, addresses, the name of their representatives in the duration of the lease as well as its value. The contract has to specify ways of paying the value of the monthly rent, include description of the leased properties, and contract terms, and the expiry date.
3- Registration Offices charge landlords 1 per cent of the annual value of the lease. This percentage can be amended in the light of a decision by the Minister.
4- The office will charge landlords 25 per cent of the first month rent value if they do not register their leases within 30 days of finalising the contract. This percentage will rise to 50 per cent if landlords do not register lease within 60 days, 75 per cent if they do not register leases within 90 days and 100 per cent if they do not register them within 120 days.
5- Authorities concerned with providing properties with services have to report these services to the office within 30 days.
Article 21
An affiliate commission to the Ministry will be established and called, ‘Rental Disputes Commission’. It will be supervised by a chief judge from the First-Instance Court. This judge will be appointed by the Chairman of the Supreme Judicial Council and two other members chosen by the Minister.
The Commission has to be formed. The Cabinet will decide on the financial compensation members within three months from the application of this law.
The commission will have a secretariat will be responsible for monitoring the implementation of the decisions of the office as well as providing the required staff.
Article 22
In addition to other mandates offered by this law, the commission has to rule in landlord-tenant disputes by applying the provisions of this law.
The Cabinet determines the rules to be followed in dealing with the commission, the mechanisms for implementing its resolutions, and its fees.
Article 23
The decisions of the commission have the same powers stipulated in Article No. 362 in the Civil and Commercial Procedures Code.
Article 24
The parties concerned can appeal the decisions of the commission within 15 days if these decisions are issued in their presence. If the decisions are issued in their absence, these parties concerned can appeal them the following day.
to be continued
Registration of lease contracts (Articles 20-26)
Article 20
Registration of rental contracts (20-26)
Article 20
1- The Ministry will establish an office or more under the name, ‘Real Estate Lease Registration Office’.
Officials at the office will register real estate leases covered by the provisions of this law and prepare the records necessary to do so.
2- Contracts have to include tenants’ and landlords’ names, their nationality, addresses, the name of their representatives in the duration of the lease as well as its value. The contract has to specify ways of paying the value of the monthly rent, include description of the leased properties, and contract terms, and the expiry date.
3- Registration Offices charge landlords 1 per cent of the annual value of the lease. This percentage can be amended in the light of a decision by the Minister.
4- The office will charge landlords 25 per cent of the first month rent value if they do not register their leases within 30 days of finalising the contract. This percentage will rise to 50 per cent if landlords do not register lease within 60 days, 75 per cent if they do not register leases within 90 days and 100 per cent if they do not register them within 120 days.
5- Authorities concerned with providing properties with services have to report these services to the office within 30 days.
Article 21
An affiliate commission to the Ministry will be established and called, ‘Rental Disputes Commission’. It will be supervised by a chief judge from the First-Instance Court. This judge will be appointed by the Chairman of the Supreme Judicial Council and two other members chosen by the Minister.
The Commission has to be formed. The Cabinet will decide on the financial compensation members within three months from the application of this law.
The commission will have a secretariat will be responsible for monitoring the implementation of the decisions of the office as well as providing the required staff.
Article 22
In addition to other mandates offered by this law, the commission has to rule in landlord-tenant disputes by applying the provisions of this law.
The Cabinet determines the rules to be followed in dealing with the commission, the mechanisms for implementing its resolutions, and its fees.
Article 23
The decisions of the commission have the same powers stipulated in Article No. 362 in the Civil and Commercial Procedures Code.
Article 24
The parties concerned can appeal the decisions of the commission within 15 days if these decisions are issued in their presence. If the decisions are issued in their absence, these parties concerned can appeal them the following day.
to be continued