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What is a conditional sale lease?
CONDITIONAL SALES LEASE. A lease where the lessee gets the title, the payments cover a short period of time, a percentage of payments goes to interest, and the lessee can buy the equipment for a fee after the lease period is over.
What is a conditional sale contract?
A sale in which the purchaser receives possession of and the right to use certain goods, but title remains with the seller until the performance of a condition is met by the buyer. Usually, this condition is the buyer's full payment of the purchase price. An installment contract is typically a conditional sale.
Who is a conditional sale available to?
Conditional sale. Conditional sale is similar to hire-purchase. The agreement usually includes the condition that the goods don't belong to you until you've paid the final installment and the lender may be able to repossess (take back) the goods if you fall behind with payments.
What is conditional credit sale?
Arrangement where a buyer takes possession of an item, but its title and right of repossession remains with the seller until the buyer pays the full purchase price (usually in installments stretched over months or years). ... Also called conditional sale contract.
What is a conditional purchase?
A conditional sales agreement is a financing arrangement where a buyer takes possession of an asset, but its title and right of repossession remain with the seller until the purchase price is paid in full.
What is a conditional bill of sale?
Conditional Bill of Sale. With a conditional bill of sale, ownership depends on meeting certain conditions. For example, if you borrowed money from a lender for the purchase of an item, the item remains in your possession as long as you make regular payments and honor the terms of your agreement.
What is the difference between hire-purchase and conditional sale?
The key difference between Hire Purchase and Conditional Sale is that the customer is obliged to buy the vehicle outright at the end of the agreement. There is no Option to Purchase Fee to be paid, as there is with Hire Purchase.
What is the difference between contract to sell and deed of conditional sale?
In a contract of sale, the title to the property passes to the buyer upon the delivery of the thing sold. In a contract to sell, on the other hand, the ownership is, by agreement, retained by the seller and is not to pass to the Vendée until full payment of the purchase price.
Is contract to sell same as deed of sale?
Q: What is a Contract to Sell? A: To be clear, there is no transfer of ownership that takes place here. What is being agreed upon is that the seller commits to sell real property to the buyer who, in turn, affirms to buy it. Once the Contract to Sell is signed, the obligations of the parties begin.
What is a conditional sales contract in real estate?
A sale in which the purchaser receives possession of and the right to use certain goods, but title remains with the seller until the performance of a condition is met by the buyer. Usually, this condition is the buyer's full payment of the purchase price. An installment contract is typically a conditional sale.
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