A 10-year prescription period for monetary obligations of individuals was introduced by the Parliamentary Legal Affairs Committee. With the addition of a renewed art. 112 in the Law on Obligations and Contracts, an absolute prescription, unknown till now in Bulgarian private law, is established. The provision reads  as follows:

1. Nature of the lease agreement
The lease contract for real estate is regulated by the Law on Obligations and Contracts . Pursuant to art. 228 of the Law on Obligations and Contracts, with the lease contract, the lessor is obliged to provide the lessee with an movable or immovable property for temporary use and the lessee is obliged to pay a certain price.