• US Legal Forms

Virgin Islands Equipment Lease with Security Agreement and Purchase Option

Category:
State:
Multi-State
Control #:
US-0816BG
Format:
Word; 
Rich Text
Instant download

Description

An equipment lease agreement is an agreement where a lessor, the owner of the equipment, permits a lessee to use the equipment in exchange for periodic lease payments. The equipment leased can be machinery, vehicles or any other equipment. The lessee is conferred with right to possession and use of equipment for a certain period in return for periodic payments, when the equipment is leased. However, the lessor remains actual owner of the equipment.
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Virgin Islands Equipment Lease with Security Agreement and Purchase Option