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  • Hey all, just changed over the backend after 15 years I figured time to give it a bit of an update, its probably gonna be a bit weird for most of you and i am sure there is a few bugs to work out but it should kinda work the same as before... hopefully :)

Lease-to-own agreements

D

Derth Adams

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I’ve seen posts here about Red owners selling their cameras through a lease-to-own agreement rather than an outright sale in order to give their buyers/lessees the benefit of the original warranty.

Does anyone have an example of such an agreement that they'd be willing to send me? I'm curious about the structure of the contract, as the only readymade lease-to-own agreements I seem to be able to find are written mostly for real estate.

Does the lessee typically pay the lease for the whole term upfront, with a $1 option to buy at the end, or is it necessary to have monthly payments to fulfill some legal requirement?
 
Derth,
The agreement I'm looking at is -to pay the whole amount and take posession
with a dollar payment at the end of term.
it's not mine to share at the moment.
- Peter
 
Does anyone have an example of a lease-to-own contract/agreement, as in full payment upfront and $1 at the end - in view of selling the R1 once the Epic is delivered.

Would love to get one (martin (.) weiss (@) abitofmagic (.) no) [remove all brackets...]

Thanks!
 
Guys,

the utilized Lease to own agreement with One Dollar Buy out, is a binding contract as to let Red regulations be obeyed, and not voiding any Trade Path, so that any purchase even so will give the buyer full out right owner ship at the time purchased, it can not and will not be registered at Red as the legal Owner till the attached Epic-X camera has been delivered, time on which the One Dollar Buy out will give the now officially new owner of record the right to change the registration at Red, by paying the fees imposed by Red.


As you know I have Brokered and assisted several dozens of such deals, the agreement it is not a "PUBLIC" item and NO one should post in any forum.

We have our attorney draft such legal agreement, however this is not to be distributed, as it is a legal agreement and must be done by professionals as to insure the legality of such agreement and avoid any issues and or loosing your right to the Epic X upgrade path.
 
Derth,

Also keep in mind that the "option-to-purchase" is a second viable option in keeping with Jim's constraints. Materially, this is a different structure than a "lease" agreement.

Both options offer advantages, depending on the needs of both the owner and future acquirer of the equipment.

Fundamentally, the Option-to-purchase center's around a "right-to-use" structure (for a fee of course). In some jurisdictions, I have been told, and understand from personal experience, the $1 "purchase" clause in a lease agreement can trigger a tax event (consult your adviser).

Feel free to PM me if you have any questions.
 
If anyone has a copy of the lease to own / $1 buyout template, I'd be very grateful if you could email it to me at calebheymann@yahoo.com. Holding thumbs...
 
With April 18th approaching ... anyone know any good tax loopholes?
 
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