Leasing Companies are those which lease assets to business houses. Insurance companies often purchase building and lease them back to the users, as do many individual investor. It is an important means of obtaining finance which is most commonly used by individual and business in Western Countries and in U.S.A. People rent houses and furniture and business firms rent stores, offices , factory , building and warehouses. A lease is an agreement between the property owner and he uses the property for a specific period. It is a contractual agreement between property owners known as lessor and the user of the said part of the property known as Lessee. In conveys the right to the lessee to use said part or portion of the property for this use for a specific period of time. An essential element of lease deed is that the lesser conveys less that the total interest in the property.
No comments:
Post a Comment