Lease of Real Estate: Special Alert - Lease of Future Real Estate and Other Court Clarifications on Lease Matters. Recent Trends and Market Practice

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On 25 January 2013 the Plenary Session of the Supreme Commercial Court of the Russian Federation (the “Court”) approved Resolution No. 13 on the application of the Russian Civil Code provisions on lease agreements (the “Resolution”) which was made available to the public in March 2013.

The Resolution provides long-awaited clarifications on a number of lease matters such as lease of a part of a real estate property, lease of future real estate (including lease before a commissioning permit is obtained), absence of state registration of a long term lease agreement, rent adjustments and other important matters...

Please see full alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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