Lease Assumption Agreement
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1Lease Assumption Agreement
(between original lessee and the new lessee)
New Lessee
Name: ______________________________Address: ___________________________________
City: ____________________ Province: __________________ Postal Code: _______ - ________
H #: ____ - _______________ B #: ____ - _______________ C #: ____ - _______________
Email: ______________________________
Original Lessee
Name: ______________________________Address: ___________________________________
City: ____________________ Province: __________________ Postal Code: _______ - ________
H #: ____ - _______________ B #: ____ - _______________ C #: ( ) ____ - _______________
Email: ______________________________
Vehicle Information
Year: ___________ Make: _________________ Model: __________________
Colour: _______________ Odometer Reading: ______________ kms
V.I.N.: ___________________________________________ (17 digits)
Warranty starting date: ____________________________
Leasing Company
Company name: ______________________________________________
Original Selling Dealership: __________________________ Contact: _____________________
Lease Account #: _________________ Expiry Date: _____________________
I, _____________________________ (new lessee), acknowledge having been provided with a copy of the vehicle lease (described above) and hereby
agree to assume all terms and conditions as stated.
I, ____________________________ (original lessee), hereby agree to accept $ ________________ as a deposit from the new lessee to hold my
vehicle until the leasing company has approved the lease assumption and to allow a total of __________ days, following the approval to complete the
transaction.
I, __________________________ (original lessee) declare that the lease agreement described herein is in full force and effect and that all payments
due, are current.
Lease assumption requirements and financial obligations associated with Original and or New Lessee:
Original Lessee
New Lessee
Responsibility
Responsibility
Vehicle Inspection (check one)
Down Payment/Cash Incentive (if applicable)
$
$
Security Deposit (if applicable)
$
$
Lease Transfer Fee
$
$
License Plate Transfer Fee (if applicable)
$
$
Shipping/Transportation Fee (if applicable)
$
$
Other
$
$
Totals
$
$
By signing this Offer-To-Lease both parties acknowledge their financial obligations and commitment to assume the lease described. If the new
lessee’s credit is not approved; this agreement becomes null and void. This agreement is valid for 15 days from the signature date of this
agreement; should the transaction not closed prior to the expiry date, this agreement becomes null and void unless it extended by mutual consent of
the 2 parties.
This offer was signed in ____________________, this _______ day of ________________ 200_____.
The parties specifically declare that they have requested that this agreement be drawn in the English language. Les parties déclarent qu’elles ont
demandé que la présente entente soit rédigée en anglais.
x ___________________________________
x __________________________________
New Lessee
Original Lessee
Stop A Lease Inc does not stock or sell any of the vehicles included on its database and is not a vendor or an authorized dealer.
This form is provided only as a convenience to the parties of this transaction, and through use of this document, the parties unconditionally and
irrevocably discharge Stop A Lease, its officers, directors and shareholders from any responsibility for damages related to its use and/or
transaction.
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Parent category: Business