Leasing and Its Intricacies

Leasing is when two contracting parties mutually oblige: one, to grant the use or temporary enjoyment of a thing and two, to pay a certain price for that use or enjoyment. 

A lease must always be in writing. All assets that can be used without being consumed are susceptible to leasing, with the exception of those prohibited by law. 

Those who enter a lease must have the legal capacity to do so. Among the main requirements that a leasing agreement must have are: names of the contracting parties, start and termination date of the lease, rental fee, place and date of payment, amount of security deposit, the parties’ responsibilities, causes for termination, addresses of both parties, and signature of both parties.

If you have questions or require information related to this matter, please contact us at info@integrolegal.com.