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Surface Lease Agreement For Production Equipment and Facilities

Equipment Lease Agreement With Option To Purchase

Name: Equipment Lease Agreement With Option To Purchase
Brand: US Legal Forms
Rating: 4.79 (311 reviews)

Category:

Oil Gas and Minerals - Agreements

State:

Multi-State

Control #:

US-OG-154

Format:

Instant download

Description

This form of agreement allows for a lessee to make use of the surface in consideration for an annual payment to the lessee.

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FAQ

What is equipment leasing? Equipment leasing is a type of financing in which you rent equipment rather than purchase it outright. You can lease expensive equipment for your business, such as machinery, vehicles or computers.

With an equipment lease, the equipment isn't yours to keep once the leasing term is over. As with a business loan, you pay interest and fees when leasing equipment and they're usually added into the monthly payment. There may be extra fees for insurance, maintenance and repairs.

This means you must pay all future projected finance charges and principal payments even if you pay the lease off early. Prepayment penalties can amount to 20-30% of what you originally borrow.

What is a lease-option-to-buy? A lease-option is a contract in which a landlord and tenant agree that, at the end of a specified period, the renter can buy the property. The tenant pays an up-front option fee and an additional amount each month that goes toward the eventual down payment.

The equipment account is debited by the present value of the minimum lease payments and the lease liability account is the difference between the value of the equipment and cash paid at the beginning of the year. Depreciation expense must be recorded for the equipment that is leased.

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"Purchase Price" means the amount set forth in the Payment Schedule that Lessee may, at its option, pay to Lessor to purchase the Equipment. EQUIPMENT LEASE AGREEMENT, made and entered into this day of.Real estate, plant and equipment lease agreements are classified as either lease purchase agreements or lease rental agreements.

Equipment Lease Agreement With Option To Purchase

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How to fill out Equipment Lease Agreement With Option To Purchase?

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FAQ

What is a lease purchase for equipment?

Do you pay interest on equipment lease?

Can you prepay an equipment lease?

How does an option to buy lease work?

How do you account for equipment lease?

Interesting Questions

What is an equipment lease agreement with an option to purchase?

Can I terminate the lease before the option to purchase period?

What are the advantages of an equipment lease agreement with an option to purchase?

Are there any tax benefits associated with this type of agreement?

Is it possible to negotiate the purchase price at the end of the lease term?

Can I finance the purchase of the equipment through a lease agreement?

What happens if the leased equipment gets damaged during the lease term?

Are there any restrictions on where I can use the leased equipment?

What happens if I decide not to purchase the equipment at the end of the lease term?

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