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Leasing contract with irrevocable clause to sell

The High Court of Cassation and Justice has ruled that, in accordance with Art. 27 of O.U.G. No. 88/1997 regarding the privatization of companies, companies that have ongoing tenancy management, rent or joint venture may sell or lease  real estate with an irrevocable contract clause to sell through direct negotiation with tenants or tenant associations when  they have invested in the assets they use . The High Court pointed out that this provision is a special law against G.O. No. 51/1997 on leases and leasing companies. Therefore, the High Court held that  the court order is lawful in noting an occurred asset sale and purchase that was subject to a leasing contract with irrevocable clause for sale, concluded between the parties under the provisions of O.U.G. No. 88/1997, appellant can not be accepted, meaning that the judgment under appeal would substitute his consent to the sale, because, under the special law, transfer of property operates only at the end of the lease, consent of the parties being only required at the time of the conclusion of the lease. (Decision no. 3606 of October 29, 2013 passed in Appeal Civil Division II of the High Court of Cassation and Justice covering court decision that replaces the act of sale)

:: The source: JURIDICE.ro

Dan Alexandru NEGRU

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