Georgian law gives property owners and tenants full freedom to negotiate and agree on the initial rent amount. The parties may also freely negotiate higher rents and increased rent costs. items for sale
The landlord has a technical advantage. Should the landlord refuse to increase rental in line with prevalent market trends and conditions, the landlord is considered to have a 'legitimate reason' to terminate the tenancy agreement prematurely. In reality, however, the current Georgian market situation (that is, the supply of residential property exceeding demand) may well translate into an overall loss for the landlord, unless the increase is reasonable and justifiable.
In Georgia, there are no special rent/tenancy courts. Consequently, the common courts of Georgia exercise jurisdiction over tenancy relations. Private arbitration is also available and may be contractually selected as a form for dispute resolution, but arbitration is not very common at this time.
A tenancy agreement that is "manifestly detrimental" to the tenant can be formally declared invalid, but that right of tenants is rarely used in practice.
Deposits
The law does not require a deposit as a precedent for the efficiency of the tenancy. This can also be agreed by the parties on a contractual basis.
However, if a tenant is required to file a security deposit by the respective tenancy agreement, the amount of such a deposit may not exceed three times the month's rent.
Interest at the rate prescribed by law must be paid in advance on the security deposit. The deposit is returned to the tenant together with the accrued interest (or departs from the relevant rental/utility payments) upon expiration/termination of the tenancy agreement. The law also determines that any agreement otherwise entered into at the expense of the tenant is void.
In practice, landlords tend to expect a two-month rental security deposit. Although mandated, the accrual requirement of interest in practice is almost never fulfilled. How effective is the legal system in Georgia?
Tenancy regulations are enforced by the Courts of Georgia as part of civil law unless the parties agree to proceed arbitrally. Court proceedings are generally long, and the reasonable period for the final settlement of tenancy disputes cannot be determined in advance. It could take 3 months to 2 years to resolve the matter, depending on the complexity of the merits of the tenancy case.
Legislation
Tenancy relations are governed in particular by Articles 531-575 of the Civil Code of Georgia for 1997.
Short history
In November 1997 when Georgia's Civil Code was adopted, Georgian tenancy legislation underwent major reform. Since 1997, no changes have been made to the relevant Civil Code chapter. Previously, the old Soviet regulations governed relations between tenant and landlord and all issues arising from such relationships.
Finnish Heritage Tax and Heritage Law in Finland.
The Global Property Guide examines heritage from two angles: taxation, and what inheritance legislation applies to foreigners leaving property in Finland: what restrictions exist and whether it is appropriate to make an agreement.
TAX INHERITANCE
How high are Finland's inheritance taxes?
The deceased's beneficiaries are liable to pay the legacy tax on their part of the estate. The net assets are valued at the time of death based on the fair market value of all assets. The tax is levied on the share of the property of the beneficiary.
All gifts received from a deceased beneficiary three years before the date of death are added to the taxable heritage of the beneficiary. Gift taxes paid for such gifts may nevertheless be credited to the legacy tax due.
The heritage tax and gift tax rates vary depending on the beneficiary's share in the estate and the relationship between the deceased and the beneficiary.
Beneficiaries are divided by their relationship to the deceased in two categories.
Categories I – close relatives of deceased donors such as a spouse (including a cohabiting partner if the partners have a common child or are already married), any linear descendant or ascendant (including adoptive child relations).
Category II - all other recipients
The spouse may deduct €60,000 as a personal allowance from his legacy. Any linear descendant under 18 may deduct €40,000 if he or she is the deceased's nearest beneficiary.
LAW INHERITANCE
What are the laws on heritage in Finland?
Finnish legislation on heritage applies to all real estate in Finland.
The law applicable to property under Finnish law is the law of the country in which the property is situated.
Finnish law also applies to the mobile possession of any person who has been permanently living or belonging to persons of Finnish nationality in Finland at the time of his death.
For mobile property, Finnish law applies where the property in Finland is implemented and distributed. However, when the deceased dies, his permanent residence can rule out the law applicable and the Code of Inheritance prohibits the return of jurisdiction to Finland in principle. Different laws can therefore be applied to two spouses of different nationalities. In some cases the applicable law may also be determined in advance if the same formalities as with Wills are met.