A lease purchase example is one which outlines the manner in which a lease purchase document is to be written and presented. A lease purchase document is one which provides the details of a lease purchase, an act of legally buying out of a lease by purchasing the item leased for a sum of money. This is done by the lessee with the express consent of the lessor and most contracts of this sort have the option of lease purchase as a contractual clause. A lease purchase example must be well framed so that it can be followed by people without any concerns.
Sample Lease Purchase Example:
Lease purchase contract number: 364756465
Name of lessor: Mr. Samuel Keener
Address of lessor: 45 Blackburn Lane, New York
Name of lessee: Mr. Jacob Kramer
Address of the lessee: 45 Damson Lane, New York
Item leased: Automobile, Model: Ford Ikon 73445, License Plate number: NY346756
Date of commencement of lease contract: 3rd June 2010
Date of termination of lease contract: 2nd June 2013.
Lease purchase clause number: 56[ii], Section 3 of the original lease document.
- The monthly rental paid by the lessee to the lessor is 500USD. This shall be deducted from the total market price of the car at the end of the duration of the lease contract.
- All terms and conditions of the lease purchase contract must be carefully scrutinized by both lessor and the lessee.
- All disputes regarding this case shall be referred to the Court of New York.
Signature of lessor: _____________________________
Signature of lessee: _____________________________