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ships and boats, in which case rental is known as chartering, and the rent is known as hire or freight (depending on the type of charter) aircraft, in which case rental is known as chartering, or leasing if the rental is longer term; specialized tools, such as a chainsaw, laptop, IT equipment or something more substantial, such as a forklift.
Combines elements of a traditional rental agreement with an exclusive right of first refusal option for later purchase on the home. It is a shortened name for Lease with Option to Purchase Contract. The lease purchase agreement expounds upon what responsibilities the tenant/buyer and landlord/seller undertake during the course of the lease.
The term rental agreement can refer to two kinds of leases: A lease in which the asset is tangible property . [ 3 ] Here, the user rents the asset (e.g. land or goods) let out or rented out by the owner (the verb to lease is less precise because it can refer to either of these actions). [ 4 ]
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A certificate of occupancy is a document issued by a local government agency or building department certifying a building's compliance with applicable building codes and other laws, and indicating it to be in a condition suitable for occupancy.
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