Archive for October 12, 2006

Lease Contracts

A Lease means an assignment of the right to ownership and use of merchandise for a period of time in return for some mutually agreed on remuneration or recompense. A sale, whether it is a sale on agreement, or a sale or return, or retention or creation of a collateral interest, is not labeled as a ‘lease.’ Whether it is a real estate property that is to be leased or an automobile or any other kind of property, it must be done within the terms of a legal and binding contract to avoid misunderstanding, loss and breach of trust. A lease contract is an officially authorized document or record that certifies a lease transaction between the individual renting the property and the leaseholder.

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