Resource information
This Law establishes terms and conditions for ownership, use and disposal of state property and property of local self-government and, in particular, land, inland waters, parks and subsoil. The Act consists of 4 Sections divided into 24 articles: (1) general provisions; (2) purchase of state property and property of local self-government; (3) ownership, use and disposal of state property and property of local self-government; and (4) concession and writing off of state property and property of local self-government unfit for use. Ownership, use and disposal of state property and property of local self-government can be carried out by: (a) Bank of Lithuania, state bodies, institutions and organizations in accordance with laws and other legislative acts; (b) state enterprises; (c) local self-government in cases envisaged by the Article 10 of this Law; and (d) in cases envisaged by the Article 9 of this Law by other legal persons in accordance with trust management contracts.
