Post by account_disabled on Feb 20, 2024 9:26:36 GMT -2
The president of Argentina, Javier Milei , has signed a Decree of Necessity and Urgency (DNU) to repeal the Rental Law and deregulate important sectors of the economy. The measure, which came into force in the country on December 29 , repealed dozens of laws and some sectors consider it unconstitutional. The decree indicates that the country's economic situation is an emergency , which justifies its issuance, since the Constitution only allows its use in exceptional circumstances in which ordinary procedures cannot be followed.
Upon approval, the contracts that are signed will be carried out according to the regulations of the Civil and Commercial Code, but with modifications.
Firstly, the rental contracts will have a term Chinese Student Phone Number List agreed upon by the parties previously, but if an agreement is not reached this will be two years. This is the first time since 1921 that Argentina does not have a minimum term for a rental.
The new rule also gives the parties freedom to agree on the adjustment of the rental value, without having to use the Rental Contract Index or the Own Home Index. Thus, both must agree on how often to update the contract, for which they can use any index, whether public or private.
The currency chosen for the contracts will not have to be the peso, but can be any legal tender or foreign currency. Once the currency is agreed upon in the contract, the tenant may not demand to pay in a different currency. It was already common in the country for many rents to be paid in dollars illegally, partly due to inflation.
In addition, judges will not be able to modify the chosen payment method or currency, since they lose the ability to modify the stipulations of the contracts. Despite this, they will have the possibility of controlling abusive clauses.
There is also the possibility of agreeing between the parties on the bond or security deposit delivered, in addition to the way in which these would be returned. The frequency of payment will also be agreed upon by the parties, although it may not be less than monthly in any case.
The sixth rule that is modified is the date on which the contract can be terminated. The tenant has the possibility of terminating it at any time, upon payment of the equivalent of 10% of the balance of the future rental fee, which will be calculated on the date of the termination notice and until the end of the contract.
Upon approval, the contracts that are signed will be carried out according to the regulations of the Civil and Commercial Code, but with modifications.
Firstly, the rental contracts will have a term Chinese Student Phone Number List agreed upon by the parties previously, but if an agreement is not reached this will be two years. This is the first time since 1921 that Argentina does not have a minimum term for a rental.
The new rule also gives the parties freedom to agree on the adjustment of the rental value, without having to use the Rental Contract Index or the Own Home Index. Thus, both must agree on how often to update the contract, for which they can use any index, whether public or private.
The currency chosen for the contracts will not have to be the peso, but can be any legal tender or foreign currency. Once the currency is agreed upon in the contract, the tenant may not demand to pay in a different currency. It was already common in the country for many rents to be paid in dollars illegally, partly due to inflation.
In addition, judges will not be able to modify the chosen payment method or currency, since they lose the ability to modify the stipulations of the contracts. Despite this, they will have the possibility of controlling abusive clauses.
There is also the possibility of agreeing between the parties on the bond or security deposit delivered, in addition to the way in which these would be returned. The frequency of payment will also be agreed upon by the parties, although it may not be less than monthly in any case.
The sixth rule that is modified is the date on which the contract can be terminated. The tenant has the possibility of terminating it at any time, upon payment of the equivalent of 10% of the balance of the future rental fee, which will be calculated on the date of the termination notice and until the end of the contract.