Sharing the Responsibilities

The responsibilities of the Ministry of Finance:

  • to develop and assist in the development of the legislation regulating the State-owned immovable property renewal process;
  • to examine and discuss the issues on the State-owned immovable property renewal;
  • to submit the draft List of State-owned Immovable Property under Renewal, developed by State enterprise Turto bankas, to the Government for its approval;
  • to supervise the activities of Turto bankas related to the administration and coordination of the State-owned immovable property renewal process.

The responsibilities of the State enterprise Turto bankas:

  • to develop the draft List of State-owned Immovable Property under Renewal and present it to the Ministry of Finance;
  • to enter into agreements on the State-owned immovable property renewal with the State-owned property managers and the State budget appropriation managers (in case the State-owned property manager is not the State budget appropriation manager);
  • to manage, use and hold disposition of the renewable State-owned immovable property transferred to the Turto bankas in accordance with the agreements entered into with the State-owned property managers and the Sate budget appropriation managers (in case the State-owned property manager is not the State budget appropriation manager);
  • to auction off the State-owned immovable property, which fails to meet the State-owned property managers’ requirements in performing the State functions appointed and the piece of land assigned thereto, unless the existing laws provide otherwise;
  • to purchase new immovable property;
  • to perform customer’s (contracting authority’s) functions, when the State-owned immovable property is reconstructed or newly constructed;
  • to borrow the funds necessary for the State-owned immovable property renewal, if there is a lack of the funds collected from selling of the State-owned immovable property, which failed to meet the State-owned property managers’ requirements in performing the State functions appointed;
  • for the performance of the aforementioned procedures the Turto bankas is granted the remuneration.

Other informacion: State enterprise Turto bankas

Last updated: 20-08-2015