| A Lease means an assignment of the right to | | | | as well as the expected remuneration. When the |
| ownership and use of merchandise for a period of | | | | two mutually agree on payment, the contract is |
| time in return for some mutually agreed on | | | | carefully drafted by the leasing lawyer or agent |
| remuneration or recompense. A sale, whether it is | | | | and signed by both parties. The period of time |
| a sale on agreement, or a sale or return, or | | | | the recompense must be made is also stipulated |
| retention or creation of a collateral interest, is not | | | | in the contract. In case of breach of contract by |
| labeled as a 'lease.' Whether it is a real estate | | | | the leaseholder through non payment of |
| property that is to be leased or an automobile or | | | | remuneration or repeated, the contract also |
| any other kind of property, it must be done | | | | mentions the penalty incurred therein. Similarly, |
| within the terms of a legal and binding contract to | | | | there is penalty for the individual leasing the |
| avoid misunderstanding, loss and breach of trust. | | | | property when there is compromise on promised |
| A lease contract is an officially authorized | | | | quality, as well as unnecessary inconvenience |
| document or record that certifies a lease | | | | caused to the leaseholder. However, it must be |
| transaction between the individual renting the | | | | noted that lease contract are more in the interest |
| property and the leaseholder. | | | | of the leaseholder. |
| A leaseholder can enter into a lease contract with | | | | Sometimes, a lease contract is combined with an |
| the individual leasing property by approaching a | | | | option-to-purchase contract, where at the end of |
| lawyer and stating his assets and choices of | | | | the lease term, the leaseholder can buy the |
| remuneration. The individual leasing the property | | | | property under mutually agreed terms. |
| then states his conditions for leasing the property, | | | | |