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Special vehicles such as diplomatic cars have a colored bar in the upper section of the license plate without the flag. License plates for private vehicle owners are blue with a white background. In 2010, Bahrain switched to the version which is in use today. [1] The international vehicle registration code for Bahrain is BRN.
A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract.
A lease buyout title transfer is vital to your ownership of your leased vehicle. While your lease contract is still in effect, the vehicle belongs to your leasing company or the bank or financial ...
If the owner defaults on the payments, the finance company has the legal right to repossess the vehicle. At the end of the agreement, the customer either pays the balloon payment and takes full ownership of the vehicle, or the vehicle is returned to the finance company without any further liability. [1] A personal contract purchase is a ...
English: 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.
A lease is a contractual agreement between a person who owns the property (lessor) and a person who gets to use it during the term of the lease (lessee). Usually, car leases allow the lessee to drive the car for a certain number of miles for a certain number of years. The lessee pays a fixed monthly payment for the privilege of driving the ...
A rental agreement or lease may include a "rent review" clause which makes provision for the rental amount to be increased, the process for the landlord to provide notice of a rent increase and the options available to the tenant regarding acceptance or rejection of the proposed increase.
Commonly, "lease" may imply a non-cancelable lease, whereas "rental agreement" may connote a cancelable lease. Influenced by land registration, commonly tenancies initially granted for more than a year are referred to more simply as leases. [6] The lease will either provide specific provisions regarding the responsibilities and rights of the ...