Leasing contract

Actualizado28 de August de 2023

PorVicente Esteve

What is a lease contract?

A lease contract is a document that creates a special legal relationship that allows the owner of a property (landlord) and another person (lessee) to agree to a lease with an option to buy. The lessee has the right to purchase the good at end of the lease.

For example, you want to use a car, but you don’t have money to buy it. A company offers you to finance the purchase of the car and lets you use it for a while in exchange for paying monthly installments. At the end of the time, you can choose between keeping the car paying a little more, return it or continue using it paying other fees.

When to use this contract?

The leasing contract is used in various situations when you want to acquire the use and benefit of an asset for a certain period of time without the need to make a full initial investment or acquire it permanently.

At LexDoka we have similar contracts that may be better suited to what you are looking for:

If you want to regulate the direct sale of a good, trade contract.
If it is a financial lease without purchase option (renting), movable property lease contract.
In the event that it is only desired to grant a right of purchase option on an asset, an option contract.

Essential content

Identification of the parties.
Object
Duration
Price of the leasing and the good.
Purchase option clause.

Optional content

Deposit clause
Maintenance clause
Insurance clause
Sublease clause
Extension clause

Necessary information

It is important to note that leasing has a number of advantages and disadvantages:

Advantages: simple procedures, debt-free capacity, offer of tax benefits, increased productivity without indebtedness, financing of the total value of the investment, flexibility in terms, quantities and access to services.
Disadvantages: you can only be the owner of the property until the end of the contract; the good cannot be delivered or returned until it is finished; higher financial cost; you don’t get the benefits and powers that ownership of property brings.

Applicable law

The leasing contract is not specifically regulated in Spanish law, which implies that it will be subject to the autonomy of the will as established in article 1255 of the Spanish Civil Code. However, this agreement must comply with the general contract legislation contained in the Civil Code, especially with regard to the validity of contracts (articles 1261 to 1277).

It is important to note that this contract takes into account the jurisprudence established by the Supreme Court in relation to this type of contract.