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The leased good may be movable or real-estate. Law No. 6361
enables, for the first time, reproduced copies of computer software to
be leased under a financial leasing agreement. Any good which indi-
vidually constitutes an asset may be leased under this agreement.
Contrary to the Abrogated Law, financial leasing agreements are
not required to establish a minimum period in which it may not be ter-
minated.
It is no longer required for the agreement to be executed by a pub-
lic notary. The financial leasing agreement may be executed in writing.
Real estate and movable goods leased under financial leasing agree-
ments shall be annotated or registered to the land registry, to the spe-
cial registries for movable goods, if any, and be notified to the
Association of Financial Leasing, Factoring and Financing Companies
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(“Association”). Movable goods not registered to a special registry
shall be registered to the special registry to be kept by the Association.
The registry to be kept by the Association shall be accessible to
the public; and therefore persons not party to the financial leasing
agreement may not allege that a lease annotation was unbeknownst
to them.
Rights and Obligations of the Parties
The lessor and the lessee undertake reciprocal obligations by
entering into a financial leasing agreement. The lessor undertakes to
transfer the possession of the good, and the lessee undertakes to pay
the leasing price. Law No. 6361 also regulates other obligations and
certain rights of the parties.
Under this section, the provisions of Law No. 6361 governing the
rights and obligations of the parties shall be analyzed.
The Rights and Obligations of the Lessee
The lessee is obliged to pay the leasing price. The financial leas-
ing price and the terms of payment shall be regulated under the agree-
ment. The provision under the Abrogated Law requiring the annual
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NEWSLETTER 2012
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Pursuant to the Law numbered 6361, the Association shall be established within six months as
of the entry into force of the law.