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Dec 20, 2020

What Is A Lessor`s Agreement



4.3. The lessor has the right to terminate the lease with immediate effect in the event of bankruptcy or termination of payment (temporary) without notice. In the event of termination under these conditions, all remaining rent payments are due immediately. The sections covered in point 4.1 apply in this situation. The lease agreement is a contract between the lessor and the taker for the use of the asset or property. It defines the terms of the contract and defines the legal obligations related to the use of the asset. Both parties are signatories to the agreement and are committed to respecting its rules. If one of the parties violates the terms of the lease, the contract may be terminated. For example, if the tenant performs illegal activities on the landlord`s premises, the landlord has the right to terminate the contract and evict the tenant from the property. Some leases include the possibility for the taker to purchase the leased property or property at the end of the rental period. An owner can be either a natural person or a legal person.

The lease he or she enters into with another party is binding on both the lessor and the taker and defines the rights and obligations of both parties. In addition to the use of the property, the lessor may grant special rights to the taker, for example. B an early termination of the lease or an extension on unchanged terms, at its sole discretion. Subletting can also be considered another type of car rental for vehicles. In the context of a vehicle sublease, a car taker or owner may give a lease to a third party and contract on certain dates. Although this arrangement is not popular, it is a growing trend in the travel industry as a cheaper alternative for travelers and locals. 3.4. The tenant is liable to the landlord for any damage to the rented property, unless the tenant can prove that he, his employee or any person for whom he is responsible to the landlord is exempt from his debt.