LEASING

Leasing

Leasing

Introduction

Lease or lease (for hire-purchase) is a contract whereby the landlord transfers the right to use a good exchange for the payment of rents for a specified period after which the tenant has the option to purchase the leased property by paying a certain price, return or renew the contract.

Indeed, once the term of the lease, the lessee has the right to acquire the asset at a price determined which is called residual, since its calculation is given by the difference between the price originally paid by the landlord (plus interest and costs) and the amount paid by the tenant to the landlord? If the tenant does not exercise the option to acquire the property should return it to the landlord, unless the contract is extended.

Discussion and Analysis

Is any lease of movable or immovable property where the lessor (leasing company) acquires an asset to give up their use and enjoyment, for a contractually specified time period (usually coincides with the life of the asset) to a third, called the lessee or user?

The lessee is bound to change as consideration to pay a periodic amount (constant or rising, and sufficient to amortize the purchase price of the good and the charges applicable). Leasing is an option for companies that do not have the investment capital necessary to acquire an asset that represents a significant investment of money used as a mechanism of alternative and innovative financing against a simple bank loan as this is embedded the advantage of the transfer of use. At the end of the lease, the tenant has two options;

Exercise the option of either the residual value (difference between the initial purchase price was the lessor's interest and costs, and amounts paid by the lessee). Not to exercise the purchase option and therefore return the property to the lessor.

Respect of this contract we can make some important remarks:

As stated above, the end of the lease, the lessor is obliged to offer to its customer (lessee) the ability to acquire the asset.

Renting this note is not shared with the contract of lease, although it may have characteristics similar to leasing.

According to the doctors Uría (now deceased), Menendez, Sánchez Calero and others, cannot qualify as a lease or a variety of leasing, since the function of the commercial contract of leasing is less grant the use of a good (movable or immovable), the fund's ability to exploit or enjoy it as an alternative to borrowing money or other financing agreements.

During the life of the contract, the leasing entity (lessor) maintains ownership of the leased asset, although not responsible for any defects that may afflict the good, is the lessee (the user), who bears the damage and loss of the said fine.

As a general rule, the contract carries a clause by which the customer is required to support the inspection on the good wishes to the owner (lessor leasing entity), and equally, the customer is obligated to pay at their expense insurance which obliges the leasing ...