Skip to content
BOL Conferences Top Gun 23
Thread Options
#27938 - 08/14/02 09:12 PM lease agreement
lakesider Offline
Member
Joined: Mar 2001
Posts: 73
bixby, OK
We are taking a lease from a company that sells school buses. Along with the assignment of lease I say we should get an assignment of the lein entry. Correct????

Return to Top
Lending Compliance
#27939 - 08/15/02 06:31 PM Re: lease agreement
JulieB Offline
Junior Member
JulieB
Joined: Apr 2002
Posts: 38
SC
Here is how we document such an arrangement. Bank lends money to Company A to purchase a commercial vehicle to lease to Company B. The commercial vehicle is titled to Company A until the lease expires and the loan is repaid. The Security Agreement is signed by Company A. An Assignment of the lease is signed by Company A and acknowledged by Company B.

Different state laws may vary this procedures.

Return to Top

Moderator:  Andy_Z