See Land Contract. Consideration - Anything of value given to induce another party to enter into a contract.
A transaction that is recognized by law as providing the seller (or contract holder) with full proprietary rights in the underlying asset until the buyer (debtor) has satisfied all the terms and conditions of the contract, at which time title to the asset passes automatically from the seller to the buyer.
An agreement for the purchase of an asset in which the lessee is treated as the owner of the asset for federal income tax purposes. This entitles the lessee to the tax benefits of ownership, such as depreciation , but the lessee does not become the free and clear owner of the asset until all terms and conditions of the agreement have been satisfied.
A contract for the sale of property where the buyer has possession and use, but the seller retains title until the conditions of the contract have been fulfilled. Also known as a land contract.
A contract for the sale of property stating that delivery is to be made to the buyer, but the title remains vested in the seller until the condition of the contract has been fulfilled.
An agreement for the purchase of an asset in which the lessee is treated as the owner of the asset for federal income tax purposes (and is entitled to the tax benefits of ownership such as depreciation). The lessee does not become the legal owner of the asset until all terms and conditions of the agreement have been satisfied. The conditional sales contract contemplates that at some time the title to the property shall pass and that the purchase price will be paid.
An agreement for the purchase of an asset in which the lessee is treated as the owner of the asset for federal income tax purposes (and is entitled to the tax benefits of ownership, such as depreciation). The lessee does not become the legal owner of the asset until all terms and conditions of the agreement have been satisfied. CORPORATE RESOLUTION A document signed by a registered corporate officer, designating company representatives who may sign leases. CREDIT ENHANCEMENT A technique to reduce historical loss risk and concentration risk of a lease portfolio in order to achieve a better credit rating and lower borrowing costs. EPRECIATION A means for a firm to recover the cost of a purchased asset, over time, through periodic deductions or offsets to income. Depreciation is used in both a financial reporting and tax context, and is considered a tax benefit because the depreciation deductions cause a reduction in taxable income, thereby lowering a firm's tax liability. IRECT FINANCING LEASE (Direct Lease) A non-leveraged lease by a lessor (not a manufacturer or dealer) in which the lease meets any of the definitional criteria of a capital lease, plus certain additional criteria.
A contract for the sale of goods under which possession is delivered to the buyer but title retained by the seller, dependent upon due performance of conditions or repayment under terms of sale (terms and conditions governing conditional sales are statutory and the statutes of each state should be carefully reviewed before a conditional sale is made). In many areas, conditional sales contracts have been replaced by Security Agreements under the Commercial Code, having substantially the same definition..
The Seller sells the asset and transfers possession to the Purchaser, but retains title to the asset until the Purchaser has fully paid for it. In other words, a contract for a sale where the customer pays for his purchase in installment payments rather than all at once.
A contract in which owner retains title until buyer has met all terms and conditions; a familiar device in land sales; also called land contract or installment contract. Buyer acquires equitable title until final payment; after delivery of deed, buyer has legal title.
a contract for the sale of property stating that the seller retains title until the conditions of the contract have been fulfilled. -- View Real Estate Listings
A sale in which the title to property or goods remains with the seller until the purchaser has fulfilled the terms of the contract, usually payment in full.
An agreement for the purchase or sale of real property.
A contract for the sale of a property in which transfer of title to the buyer is contingent on fulfillment of certain conditions/contingencies.