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    Contract of Lease of Motor Vehicle: Witnesseth: That

    Uploaded by

    Apol Maipid-Espiritu
    This document is a contract of lease for a motor vehicle between a lessor and lessee. It details the terms of the lease, including a description of the vehicle, monthly rental payments of an unspecified amount, an initial 5 year term that is automatically renewed, an option for the lessee to purchase the vehicle after 18 months of payments, and responsibilities of the lessee for expenses, maintenance, and liability. The contract is signed and acknowledged by both parties and witnesses before a notary public.

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    © All Rights Reserved
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    Contract of Lease of Motor Vehicle: Witnesseth: That

    Uploaded by

    Apol Maipid-Espiritu
    335 views3 pages
    This document is a contract of lease for a motor vehicle between a lessor and lessee. It details the terms of the lease, including a description of the vehicle, monthly rental payments of an unspecified amount, an initial 5 year term that is automatically renewed, an option for the lessee to purchase the vehicle after 18 months of payments, and responsibilities of the lessee for expenses, maintenance, and liability. The contract is signed and acknowledged by both parties and witnesses before a notary public.

    Original Description:

    Template for Rent to Own agreement

    Original Title

    Rent to Own Agreement

    Copyright

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    This document is a contract of lease for a motor vehicle between a lessor and lessee. It details the terms of the lease, including a description of the vehicle, monthly rental payments of an unspecified amount, an initial 5 year term that is automatically renewed, an option for the lessee to purchase the vehicle after 18 months of payments, and responsibilities of the lessee for expenses, maintenance, and liability. The contract is signed and acknowledged by both parties and witnesses before a notary public.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    335 views3 pages

    Contract of Lease of Motor Vehicle: Witnesseth: That

    Uploaded by

    Apol Maipid-Espiritu
    This document is a contract of lease for a motor vehicle between a lessor and lessee. It details the terms of the lease, including a description of the vehicle, monthly rental payments of an unspecified amount, an initial 5 year term that is automatically renewed, an option for the lessee to purchase the vehicle after 18 months of payments, and responsibilities of the lessee for expenses, maintenance, and liability. The contract is signed and acknowledged by both parties and witnesses before a notary public.

    Copyright:

    © All Rights Reserved
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    You are on page 1of 3

    CONTRACT OF LEASE OF MOTOR VEHICLE

    KNOW ALL MEN BY THESE PRESENTS:

    This Agreement executed this __th day of _______, 20__ at


    _______________________________ by and between:

    [NAME], Filipino, of legal age, single and a resident of [address]


    (hereinafter referred to as “LESSOR”).

    -and-

    [NAME], Filipino, of legal age, single with address at [ADDRESS]


    (hereinafter referred to as “LESSEE”).

    WITNESSETH: That -

    1. That the LESSOR hereby lets and leases unto the LESSEE his motor vehicle
    described as follows:
    MODEL/MAKE :
    COLOR :
    BODY :
    MOTOR NO. :
    SERIAL/CHASSIS NO. :
    PLATE NO. :

    2. That the monthly rental shall be in the amount of PHP _____________ per
    month, payable at the end of each and every month;

    3. That the term of this contract shall be five (5) years commencing on
    [MONTH/DAY/YEAR] and ending on [MONTH/DAY/YEAR] and
    automatically renewed from year to year unless sooner terminated by a notice
    of at least thirty (30) days before such termination;

    4. OPTION TO PURCHASE: For good & valuable consideration, the receipt


    whereof is hereby acknowledge from the LESSEE/BUYER. The
    LESSOR/SELLER hereby extends an option to the LESSEE/BUYER to purchase
    for the amount of PESOS:

    ___________________________________ [P __________________] of
    Lease on the 18thmonth or the period from 1st to _____ of __________,
    _______. The LESSEE/BUYER, at his/her/its exclusive option, conditioned on
    faithful compliance with all payments and undertakings contained herein, may
    convey his/her/its decision to avail of option to purchase in writing to the
    LESSOR/SELLER who thereafter shall credit all rental payments up to the
    __________ (___) month and the initial deposit to down payment, if any.

    4. That all the expenses for the registration, insurance, tire, battery, fuel, care
    and maintenance of the leased unit, as well as any and all damages and
    liabilities caused to third parties or the public by reason of any accident
    whatsoever, shall be for the sole account of the LESSEE;

    5. That the LESSEE may sublease the unit to any other person but the right of
    LESSOR as herein stipulated shall not be affected whatsoever.

    IN WITNESS WHEREOF, we have hereunto set our hands this __th day
    of _________, 20__ in _____________________, Philippines.

    [NAME] [NAME]
    Lessor Lessee

    SIGNED IN THE PRESENCE OF:

    [NAME]
    Lessor [NAME]
    Lessee

    ACKNOWLEDGMENT

    Republic of the Philippines)


    City of Makati ) S.S.

    BEFORE ME, a Notary Public, for and in the City of Makati, this 25th
    day of June 2013 personally appeared:

    Name Identification Card Issued On/At


    JUAN DELA CRUZ SSS I.D. No. 123 1-1-11/Makati
    PEDRO DELOS SANTOS SSS I.D. No. 222 2-1-11/Makati
    MARIA DELA CRUZ SSS I.D. No. 333 3-1-11/Makati
    MARIA MAKILING SSS I.D. No. 444 4-1-11/Makati
    JUAN TAMAD SSS I.D. No. 555 5-1-11/Makati

    all known to me to be the same persons who executed the foregoing


    instrument and hereby acknowledged to me that the same is their free and
    voluntary act and deed.

    This instrument consisting of two (2) pages, including this page on which
    this acknowledgment is written refers to a CONTRACT OF LEASE OF MOTOR
    VEHICLE and has been signed by the parties and their witnesses and sealed
    with my notarial seal.

    WITNESS MY HAND AND NOTARIAL SEAL.

    Doc. No. ____


    Page No. ____
    Book No. ____
    Series of 2013.

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