It is an activity that includes the provision of fixed assets their provision to individuals or legal entities under pre-defined conditions:.
According to Article 677, Part 1 of the RA Civil Code, according to the Financial Leasing (Leasing) Agreement, the lessor is obliged to acquire the property mentioned by the lessee from the seller determined by the lessee, to transfer it to the temporary possession of the lessee for a fee. In this case, the landlord is not responsible for choosing the seller the subject of the lease.
It should be noted that the financial lease agreement may stipulate that the seller selects the property to be purchased. In addition, the financial lease agreement may stipulate that the leased property becomes the property of the lessee after or after the end of the lease term, provided that the lessee pays the price stipulated in the agreement.
The specifics of certain types of financial leasing agreements are defined by the law on financial leasing. It should be noted that according to Article 678, Part 1 of the RA Civil Code, the financial lease agreement is concluded in writing by drawing up one document signed by the parties.
Note that the financial lease agreement of the real estate is subject to notarization. It should be noted that the subject of a financial lease agreement can be any non-consumable property.
The subject of the financial lease agreement is handed over by the seller directly to the lessee at the latter's location, unless otherwise provided by the financial lease agreement.
In case the subject of the financial lease agreement has not been handed over to the lessee within the term specified in the contract, and if the term is not specified in the contract within a reasonable period, the lessee has the right to demand termination of the contract compensation for damages :
The risk of accidental loss or accidental damage to the leased property passes to the lessee from the moment of transferring the leased property to him, unless otherwise provided by the financial lease agreement.