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????

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.