Oregon Lease or Rental Agreement of Personal Property of any Type with Option to Purchase and Own Personal Property - Lease or Rent to Own

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Description

The following lease agreement form is meant to be used by one individual dealing with another individual or a commercial transaction between non-consumers. It therefore does not contain disclosures required by the Federal Consumer Leasing Act.


The Federal Consumer Leasing Act, which is part of the Truth in Lending Act, applies to any lease of consumer goods for more than four months in which the total contractual obligation does not exceed $25,000. (It does not apply to leases of real estate.) This law requires the lessor (the owner of the auto you lease, for example) to disclose information before you sign the lease. Among the most important items are


" the capitalized cost -- that is, the cost of the goods being leased (the capitalized cost is negotiable to the same extent that the price of goods is negotiable if you were buying them instead of leasing them);

" the total amount of any initial payment you are required to pay;

" the number and amounts of monthly payments;

" the total amount for fees, such as license fees and taxes;

" any penalty for default or late payments;

" the annual mileage allowance and the extra charges involved if you exceed that allowance;

" whether you can end the lease early, and the method of computing the charge if you do so;

" whether you can purchase the auto at the end of the lease and for what price;

" any liability that you may have for the difference between the estimated value of the auto and its market value at the time you end the lease; and

" any extra payment that you must make at the end of the lease.


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  • Preview Lease or Rental Agreement of Personal Property of any Type with Option to Purchase and Own Personal Property - Lease or Rent to Own
  • Preview Lease or Rental Agreement of Personal Property of any Type with Option to Purchase and Own Personal Property - Lease or Rent to Own
  • Preview Lease or Rental Agreement of Personal Property of any Type with Option to Purchase and Own Personal Property - Lease or Rent to Own
  • Preview Lease or Rental Agreement of Personal Property of any Type with Option to Purchase and Own Personal Property - Lease or Rent to Own
  • Preview Lease or Rental Agreement of Personal Property of any Type with Option to Purchase and Own Personal Property - Lease or Rent to Own
  • Preview Lease or Rental Agreement of Personal Property of any Type with Option to Purchase and Own Personal Property - Lease or Rent to Own

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FAQ

Advantages of Lease Purchases for Sellers ExplainedIncreased return on investment: The upfront option payment can increase the return on investment, and it stays with the owner even if the tenant does not purchase the property.Locked-in sale price: The owner can lock in a reasonable price for the home in advance.More items...?

A lease is a legal, binding contract outlining the terms under which one party agrees to rent property owned by another party. It guarantees the tenant or lessee use of the property and guarantees the property owner or landlord regular payments for a specified period in exchange.

Sellers agreeing to lease option deals arguably have more to lose than buyers. If house prices rise they're likely to regret agreeing a price at the time the option was taken out. If prices fall there's a risk the buyer or investor will not exercise their option to buy, and they'll still be stuck with the property.

Lease Purchase is a form of Hire Purchase or Conditional Sale agreement - requiring you to take ownership of the vehicle after all payments have been made - but the regular payments are structured like a lease/rental agreement.

If you take out a lease purchase agreement on a new car, you agree from the outset that at the end of the contract, you will purchase the vehicle. It enables you to eventually buy a new car, without having to find the entire amount up front. Where lease purchase differs is that it is a pure finance agreement.

Here are some of the most important items to cover in your lease or rental agreement.Names of all tenants.Limits on occupancy.Term of the tenancy.Rent.Deposits and fees.Repairs and maintenance.Entry to rental property.Restrictions on tenant illegal activity.More items...?

They give the tenant the ability, prior to the conclusion of the lease term, to continue leasing the premises. An option to renew or extend the lease means that upon the tenant's exercise of the option (choice), the provisions of the agreed-upon option are adopted for another defined term.

optiontobuy arrangement can be a solution for some potential homebuyers, but it's not right for everyone. If you're not certain that you're going to be able to purchase the rental home at the end of the lease period, you might be better served with a standard rental agreement.

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Oregon Lease or Rental Agreement of Personal Property of any Type with Option to Purchase and Own Personal Property - Lease or Rent to Own