Property lease contract and unilateral termination of property lease contract

1. What is a property lease contract?

According to Article 472 of the 2015 Civil Code Specific provisions on property lease contracts are as follows:

Property lease contract

An asset lease contract is an agreement between the parties, whereby the lessor delivers the asset to the lessee for use for a period of time, and the lessee must pay rent.

Housing lease contracts and house lease contracts for other purposes are implemented in accordance with the provisions of this Code, the Housing Law and other relevant laws.

Thus, a property lease contract is a common civil contract in which the lessor delivers the property to the lessee for the lessee to use within a certain period of time, and the lessee must pay rent.

2. In what cases can a property lease contract be unilaterally terminated?

Pursuant to Article 428 of the 2015 Civil Code Specific provisions on unilateral termination of contract performance are as follows:

Unilateral termination of contract performance

1. One party has the right to unilaterally terminate the performance of the contract and does not have to compensate for damage when the other party seriously violates its obligations in the contract or as agreed upon by the parties or prescribed by law.

2. The party that unilaterally terminates the performance of the contract must immediately notify the other party of the contract termination. If failure to notify causes damage, compensation must be made.

3. When a contract is unilaterally terminated, the contract terminates from the moment the other party receives notice of termination. The parties do not have to continue performing their obligations, except for agreements on penalties for violations, compensation for damages and agreements on dispute resolution. The party that has performed the obligation has the right to request the other party to pay for the performed obligation.

4. The party that suffers damage due to the other party's failure to properly perform its contractual obligations shall receive compensation.

5. In case the unilateral termination of contract performance does not have the basis specified in Clause 1 of this Article, the party that unilaterally terminates the performance of the contract is determined to be the party violating its obligations and must fulfill its civil liability. according to the provisions of this Code and other relevant laws due to failure to properly perform contractual obligations.

Thus, one of the parties to a property lease contract can unilaterally terminate the performance of the property lease contract when the other party seriously violates the obligations in the contract or the parties have an agreement or the law has provisions. different determination.