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A land lease.
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∙ 14y ago
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Where are operating leases recorded in financial statements?
Operating lease is that kind of lease which is not done for entire useful life of assets and only lease rental are paid and expensed through income statement.
Are eighteen month leases legal?
You can create a lease for as long or as little as you want; it is only valid if both parties agree and then sign it.
Is capital leases an intangible asset?
No, Capital lease is for tangible assets only so it is tangible assets. Capital lease is to acquire any assets for use in business so that asset is a visible thing so not intangible asset.
Contract to lease land indicated that part of the land might be sold Is the lease still valid if the person who purchased the land doesn't want to lease it?
Only the lease contract would disclose the anwer to this question. If you need legal assistance in deciphering or understanding it, you must retain an attorney to assist you.
What is the legal age to sign a lease agreement in Illinois?
Only adults can legally bind a contract which includes leases. The United States legally considers a person an adult at the age of 18.
How many days do you have to terminate a lease?
As many days as your lease contract specifies you have, or as many days as the law specifies (if any.) There are leases which do not have termination clauses (although, objectively, an argument could be made that every lease should have them.) In short, it's not impossible that a particular lease does not contain the ability to be terminated. Your only remedy might be to break the lease, or you might have other ways to nullify the lease (such as demonstrable evidence that there was no meeting of the minds.) Any such remedy, though, should be undertaken only after speaking with competent legal counsel.
What kinds of oil and gas leases are there?
The BLM issues two types of leases for oil and gas exploration and development on lands owned or controlled by the Federal Government - competitive and noncompetitive. Congress passed the Federal Onshore Oil and Gas Leasing Reform Act of 1987 requiring that all public lands available for oil and gas leasing be offered first by competitive leasing. The BLM may issue noncompetitive leases only after the agency has offered the lands competitively at an oral auction and not received a bid. The maximum competitive lease size is 2,560 acres in the lower 48 States and 5,760 acres in Alaska. The maximum noncompetitive lease size in all States is 10,240 acres. The BLM issues both competitive and noncompetitive leases for a 10-year period. Any lease will automatically continue after that so long as - (1) There is a well on the lease capable of producing in paying quantities on it; or (2) The lease can receive an allocation of production from an off-lease well capable of producing in paying quantities.
Can you trade in your car to get a lease car?
Yes. If it is paid for, it will have a value, though a car lot will probably only give you a percentage. But, leases usually require some cash down, so yes, you can.
What is the Difference between sales type lease and capital lease?
Capital lease is that lease in which assets are acquired for substantial useful life of asset for use in business. Sale type lease is that in which discounted cash flow for miminum lease payment is higher than value of leased asset and only relevant to lessor.
How does failure on a business car lease agreement affect personal credit?
Failure on a business or car lease agreement will still be attached to your name and social security number. It will lower your total credit score unless these leases were only attached to the business or someone else's number.
Obtaining a Lease Extension?
Thousands of people take out leases for vehicles each year. Of course, a lease can be taken out on other things, but vehicles are the most commonly leased item. A person gets to drive the vehicle for the amount of time set forth by the contract and must follow the other restrictions in the lease.What do most leases look like for vehicles?For the most part, leases for vehicles are set at terms of either 12 or 24 months. That means a person will be able to drive the vehicle for one to two years, but some leases can be much longer. Of course, the person who takes out the lease has to follow the guidelines set out by the leasing company. A driver might be restricted to driving 12,000 miles per year or less. Also, he or she might need to take the vehicle in for scheduled maintenance or face penalties. Most leases have provisions that set forth steep penalties for drivers that don't follow the lease completely. Fortunately, most drivers won't have any troubles following the terms of the contract.How does a person get a lease extension?Extending a lease isn't always possible, but some drivers will be able to get an extension with a little bit of persistence. Most companies don't want to extend leases because they want the vehicle to get sold after the lease is finished. For apartments and houses though, leases are regularly granted. Still, a person must file the proper paperwork when it comes to vehicles. That usually involves talking to the lease company. A fee might be required to increase the terms of the lease. Typically, the only thing that will change will be the duration because everything else will stay the same.Should a person extend their lease?In most cases, a person shouldn't extend their lease because it simply costs more money than buying the vehicle in the long run. Obtaining a vehicle lease extension isn't that easiest thing in the world and may not even be possible in some cases. It's always worth a try if a person wants to get a lease extension though.
Can a landlord require a lease?
He probably could. If you have no prior agreement, than it's his land, and he can decide he'll only rent if you agree to his terms, which could be a lease.
