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Penalties On Late Rental Payments
If the lessee is late in paying rentals, the lessor may not gain any benefit from a penalty, because the money becomes a debt, and any receipt in...
If the lessee is late in paying rentals, the lessor may not gain any benefit from a penalty, because the money becomes a debt, and any receipt in...
The lessor has the right to charge late payment fees. This charge may consist of an administrative charge and a late-payment penalty where...
The Lessor’s Obligation To Pay For Insurance
The lessor is obligated to pay any legally required insurance on the leased property; any payout by the insurer should go to the lessor and the net...
The lessor is obligated to pay any legally required insurance on the leased property; any payout by the insurer should go to the lessor and the net...
The property (or service) may only be used for its intended purpose, or as agreed upon with the lessor.
Selling Leased Property
The lessor may sell all or part of the leased property to a third party during the lease. The property may only be sold if ownership is also...
The lessor may sell all or part of the leased property to a third party during the lease. The property may only be sold if ownership is also...
Defect In Leased Asset
A defect is defined as a compromise or diminishment of the usufruct. In such a case, the lessee has the option to rescind the contract. The lessee...
A defect is defined as a compromise or diminishment of the usufruct. In such a case, the lessee has the option to rescind the contract. The lessee...
Leased Asset Being Used For Unlawful Purposes
If the lessor becomes aware of a lessee’s intention to utilize a leased asset in unlawful ways, he should rescind the contract. Any rental payments...
If the lessor becomes aware of a lessee’s intention to utilize a leased asset in unlawful ways, he should rescind the contract. Any rental payments...
Maintenance Of Leased Asset
The leased asset is in the ownership of the lessor and is rented to the lessee as a trust in return for its usufruct. Therefore, the maintenance of...
The leased asset is in the ownership of the lessor and is rented to the lessee as a trust in return for its usufruct. Therefore, the maintenance of...
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