FINACE LEASE / LEASE-TO-OWN AGREEMENTS

AgustinaCPA · 1 FINACE LEASE / LEASE-TO-OWN AGREEMENTS Fri Apr 22, 2016 8:55 am

AgustinaCPA

Arresto Menor

Posts : 10
Join date : 19/03/2016
Age : 33

My boss entered into a ‘lease-to-own’ (finance term) agreement with BDO Leasing. However, the lease agreements states that the property leased shall revert back to the lessor upon expiration of term. I called the agent and clarified that particular clause. He told me that that won’t be the case. That at the end of the lease term they will execute a deed of absolute sale in favor of us. My question is, shall I take his word for it or shall I push them to amend the wording of the lease agreement. Thank You!

HrDude · 2 Re: FINACE LEASE / LEASE-TO-OWN AGREEMENTS Fri Apr 22, 2016 11:18 am

HrDude

Reclusion Perpetua

Posts : 971
Join date : 26/10/2015

Of course NOT. To protect your interest, if the agreement is this but the contract states otherwise, you cannot take anyone's word for it, more so from an agent only. Inform your boss about the discrepancy and tell him to execute another contract and rescind the previous one. Have your counsel scrutinize the new contract prior to signing.

FINACE LEASE / LEASE-TO-OWN AGREEMENTS

1 FINACE LEASE / LEASE-TO-OWN AGREEMENTS Fri Apr 22, 2016 8:55 am

AgustinaCPA

2 Re: FINACE LEASE / LEASE-TO-OWN AGREEMENTS Fri Apr 22, 2016 11:18 am

HrDude