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What is Leasing?
Definition of a Lease
We define lease in order to understand the leasing contract. The lease is a contract whereby one party, the lessor, grants the right to use a particular good for a period of time to the other party, the lessee (or tenant), which will pay for the transfer of the right to use a fixed amount regularly .
Definition of a Leasing Contract
In this contract the landlord transfers the right to use the property in exchange for payment of rents for a specified period after which the tenant can do three things: buying a good value (and low), return the property or extend the leasing period.
Obligations of lessor
Obligations of lessee
- Make payments
- Make choice of whether to acqure ownership of asset at expiration of contract.
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