Block Out Comment Lease For Free

A lease of immoveable property is a transfer of a right to enjoy such property, made for a certain time, express or implied, or in perpetuity, in consideration of a price paid or promised, or of money, a share of crops, service or any other thing of value, to be rendered periodically or on specified occasions to the ...

"107. A lease of immovable property from year to year, or for term exceeding one year, or reserving a yearly rent, can be made only by a registered instrument. All other leases of immovable property may be made either by a registered instrument or by lessee agreement accompanied by delivery of possession.

The two most common types of leases are operating leases and financing leases (also called capital leases). In order to differentiate between the two, one must consider how fully the risks and rewards associated with ownership of the asset have been transferred to the lessee from the lessor.

What are the types of the direct lease? There are two distinct contract types for direct leasing: bipartite leasing and tripartite leasing. In the first, a bipartite arrangement, the lessor already owns the property (equipment), and the lessor leases it to the lessee directly.

There are various types of lease, for example, absolute, lease in perpetuity, periodic lease, lease for a fixed term and derivative. Section 106 of the Transfer of Property Act, 1882 provides for the duration of a lease, which is an essential element of every lease.

While leasing and renting share many similarities, there are some subtle distinctions between the two. The main difference is the length of tenancy. A rental agreement is usually short term or month-to-month, while a lease is typically for a longer period of time, usually six months or more.

A lease is classified as a finance lease if it transfers the ownership of assets to the lessee. The example of finance lease may be the car lease in which lessee makes periodic payments to the lessor and after a specific period of time say after five years, the possession of car is transferred to the lessee.