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When To Begin Payments In A Lease
The bank leases land for the purpose of building a branch office.

The improvements on the land and the construction of the branch office require two years before it can be opened for business.

When is the bank required to begin lease payments on the land; from the time of possession or from the time the branch office is opened?
Payments are required from the lessee from the time of taking possession of the item leased from the lessor. In the case mentioned, payments will be due as soon as possession of the land is assumed by the lessee.

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