| Summary: | The significance of the contract of rent (maintenance/support contract) in Lithuanian society is still rather low. That does not imply that there are no legal relationships arising from the limited use of the contract type. Several cases on the grounds of the contract of rent reached even Supreme Court of Lithuania. The contract of rent cannot boast of popularity first of all due to a low comprehension among common people. Therefore it is so important to research these types of contract, publicize and introduce it to the society. The contract of rent according to article 6.439 of Lithuanian civil code involves an obligation of the payer of rent (debtor) gratuitously or in exchange for the capital transferred to his ownership to perform periodical payments to the other party – the recipient of the rent – of a monetary amount determined in the contract (rent) or to grant maintenance to the recipient of rent in any other form. This contract differs from any other contract established in Lithuanian civil code such as purchase sale or donation contracts. Contract law theory characterizes three types of the contract of rent: rent in perpetuity (permanent rent), rent for life and life annuity. Each kind of the contract of rent has a very different object, subjects, terms and its purpose. The object of the contract of rent is capital transferred to the ownership of the payer of rent. Only life annuity differs with its special object – a dwelling house, apartment, land plot or other... [to full text]
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