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LAW OF OBLIGATIONS
269
The Usufruct Lease under the Provisions of Turkish Code of
Obligations No. 6098
10
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Att. Ceyda Buyukoral
The “Usufruct Lease” is regulated under the Turkish Code of
Obligations (“TCO”) No. 6098 between Articles 357 and 378.
The usufruct lease is a contract whereby the lessor undertakes to
grant the lessee the right of use of a productive object and the benefit of
its fruits or proceeds in exchange for rent.
Unless there is a special provision, general provisions on lease
contracts shall be applicable to the usufruct lease.
If a usufruct lease contract includes equipment, animals, the objects
transferred or the goods stocked, the parties are obliged to assess the
values of such items together, record them and provide a copy of the
signed inventory to the other party.
Articles 360 and 361 of the TCO regulate the obligations of the lessor.
Pursuant to these articles, the lessor is required to deliver the leased object
including the leased movable property, if there is any, to the lessee in a
condition fit for its designated use and operation and to maintain it in
that condition throughout the period of the contract. Moreover, the lessor
is obliged to carry out major repairs as required on the object during the
lease term at his own expense and as soon as the lessee has informed him
of the need for such repairs.
As per Article 362 of the TCO, the tenant or lessee must pay the
rent and the accessory charges at the end of each month and at the latest
upon expiry of the lease, unless otherwise stipulated under the contract or
required by local custom. In the event of non-payment of the rent that has
become due upon delivery of the leased or in the event of non-payment
of the accessory charges, the lessor may set a written time limit of at least
60 days for payment and notify the lessee that in the event of nonpayment
he will terminate the lease upon expiry of that time limit.
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Article of June 2013