A transfer auto lease puts forth the terms and conditions that come into play when an individual decides to walk out of a lease term and wants to hand it over to some other person, either an acquaintance or anybody else, and enters into a legal contract with due permission from the leasing company. Such a document should outline rules to suit the best interests of all the parties involved.
Sample Transfer Auto Lease:
This transfer auto lease is to confirm that I, Dorothy Williams, the lessor till date, have decided to terminate this contract of the Toyota lease [lease number: 745294, license number on plate: 234D67], which had been legally taken from the leaser, Mike Roger, owner of Autocomfort and signed on the 4th day of May, 2011 and is to remain valid till the 31st day of December, 2011. The deed has been decided to be transferred to Mr. Tom Garrison on the 15th of August, 2011. The details of this contract are as follows:
- The lease had initially been signed on 4th May, 2011 and is now being transferred on 15th August, 2011. The date of closure of the lease remains unchanged, that is, 31st December, 2011.
- Payment for the initial slot has been cleared by Dorothy Williams [$ 35000] and has now been decided for transfer without any penalty clauses. The remaining payment [$ 23000] will, however, have to be done by Tom Garrison, on closure of the lease.
- Residential and identity proof documents and driver’s license of Tom Garrison has been submitted.
- Tom Garrison will, from this date, be liable for any breach of contract, and will also be penalized for the same.
___________________________________________ [Dorothy Williams]
___________________________________________ [Tom Garrison]
___________________________________________ [Mike Roger]