This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
Virginia Contract for the Lease of Personal Property
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How to fill out Contract For The Lease Of Personal Property?
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FAQ
According to Virginia landlord-tenant law, tenants have the right to live in a habitable unit that complies with proper housing regulations. Additionally, tenants have the legal right to request required repairs if the unit has any kind of damage that exceeds normal wear and tear.
A Virginia rent-to-own contract must adequately describe who will make repairs to and maintain the property during a lease. These responsibilities must be clearly outlined. If the consumer chooses to exercise a rent-to-own option instead of leasing, the consumer is responsible for repairs and maintenance.
Contents of a lease agreementAmount of rent and due dates, grace period, late charges. Mode of rent payment. Methods to terminate the agreement prior to the expiration date and charges if any. Amount of security deposit and the account where it is held.
No, standard residential lease agreements do not need to be notarized in Virginia. As long as the lease is signed by at least one party and meets the requirements to be legally binding, it is enforceable.
A Virginia rent-to-own contract must adequately describe who will make repairs to and maintain the property during a lease. These responsibilities must be clearly outlined. If the consumer chooses to exercise a rent-to-own option instead of leasing, the consumer is responsible for repairs and maintenance.
A notary can play an important role in making sure that a contract is legally enforceable, even if notarization isn't necessary. Just like wills, there is generally no requirement that a contract be notarized in order to be legally binding.
Lease automatically may renew on a month-to-month basis unless landlord or tenant gives written notice of non-renewal before the end of the set term.
What Is a Land Lease Option? A land lease option is a clause in a real estate contract that grants the renter or lessee the right, but not the obligation, to extend his or her use of a property beyond the term specified in the contract.
A lease option allows the landlord to retain the legal title of the lease option property, without the mundane management responsibilities. Lease options are also an ideal way of securing long term tenants. Most lease-options are for an average term of between 7 and 10 years.
Like some other states, Virginia only requires the signature of one party to be binding. If the landlord doesn't sign a lease that has been signed by the tenant, accepting rent has the same effect as signing the lease.