Leasing Agreement Lawyer
Leasing plays a vital role in economic development, as it helps enterprises and individuals, having a small amount of financial resources, to obtain equipment and transport for use with the right to purchase. Still, farms, companies, manufacturing enterprises, and individual entrepreneurs have risks as leasing companies often try to mislead them. Law practice shows that the number of clients who request help in the legal analysis of a lease agreement before its conclusion, as well as the number of those who need help after the conclusion of the deal and making an advance payment has grown lately. Let’s define how a leasing agreement lawyer nearby can assist you in avoiding problems and striking a deal successfully.
Why You Need Leasing Agreement Lawyer’s Help
A lessee who does not have the necessary knowledge in contract law, and especially in legal relations in the field of rent, will not be able to:
- fully assess, first of all, the legality of this treaty and the reliability of the company;
- provide a legal analysis of the risks, the liability of the parties, pricing, termination of the contract and other conditions.
Before signing the contract, we recommend using the services of a competent leasing agreement lawyer who can analyze and give a proper assessment of the lease deal, which, in the future, can enable you to avoid all kinds of adverse legal consequences.
Most Common Cases
The most common causes of disputes in judicial practice in Dubai are:
- Collection of lease payments;
- Requirements for early arranging of paying;
- Deterioration and loss of the leased asset;
- Failure to fulfil the sales contract of the leased item;
- Termination of the bargain;
- Challenging fines, high penalties and other types of liability.
What Features In Treaty To Consider
Despite its obvious advantages, lease also has disadvantages. The lessee assumes significant financial risks to receive the property, and the rental should be paid at least 30% of its value. As a result, the final cost of the property acquired at the end of the term in case of redemption is much higher than the market value. Also, a significant drawback of this type of relationship is the legal complexity of the transaction.
A professional leasing agreement lawyer in UAE usually adds the following points to the contract:
- transferred property, its delivery and acceptance procedure;
- amount and schedule of payments;
- on whose balance sheet the property will be accounted for;
- the possibility of property transfer to the ownership of the lessee after the end of the bargain;
- the redemption price and the method of its payment (in case of redemption);
- term of the lease treaty;
- maintenance of the leased asset;
- the possibility of early termination of the transaction and its reasons;
- penalties on non-fulfilment of obligations under the treaty;
- insurance, etc.
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Appeal To Expert Leasing Agreement Lawyer In Dubai
The most common problem in rental relations is the lessee’s possibility of losing both the property transferred under the lease deal and the money paid for it. To protect yourself from illegal actions, it is better to conduct all transactions under the supervision of a competent leasing agreement lawyer near you.